Retirement plan

FERRARI AND SONS, INC. PROFIT SHARING PLAN AND TRUST

Name: FERRARI AND SONS, INC. - FERRARI AND SONS, INC. PROFIT SHARING PLAN AND TRUST (2024) Form 5500
Creator: FERRARI AND SONS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FERRARI AND SONS, INC. PROFIT SHARING PLAN AND TRUST, FERRARI AND SONS, INC.

FERRARI AND SONS, INC.EIN 14-1468630Plan #004PY 2024

220 OVEROCKER ROAD - POUGHKEEPSIE, NY 12603845-452-0387ferrariandsonsinc.comLinkedIn1-10 employeesconstruction

Prospect flagsHigh feesHigh assets / participantLow participant contributionLow fidelity bond

How to read this page

Total assets (EOY)

$2.4M

+31.3% from 2023

Total participants

+50.0% from 2023

Average account balance

$785,167

-12.5% from 2023

Annual return

28.59%

+36.87 pp from 2023

Benchmarks

See 54,805 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort54,805 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$2.64M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$881K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$58K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$19K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+9.73%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$1484

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2R2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

4 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$4K

$1252 / participant

Other / not subdivided$4K100.0%

% of EOY assets

0.159%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$785,167

$110,379+611.3%

$102,412+666.7%

$145,884+438.2%

Participation rate

100.0%

77.9%+22.1pp

74.5%+25.5pp

80.3%+19.7pp

Annual return

28.59%

24.84%+3.8pp

24.94%+3.7pp

551.85%-523.3pp

Employer contribution / active EE

$16,332

$4,216+287.4%

$3,870+322.0%

$4,662+250.3%

Participant deferral / active EE

$5,622-100.0%

$5,060-100.0%

$6,690-100.0%

Admin fee / account holder

$1,252

$9,745-87.2%

$8,388-85.1%

$13,392-90.7%

FERRARI AND SONS, INC. PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FERRARI AND SONS, INC. PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion