Retirement plan

ROCCO J. TESTANI, INC. 401(K) PLAN

Name: ROCCO J. TESTANI, INC. - ROCCO J. TESTANI, INC. 401(K) PLAN (2023) Form 5500
Creator: ROCCO J. TESTANI, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ROCCO J. TESTANI, INC. 401(K) PLAN, ROCCO J. TESTANI, INC.

ROCCO J. TESTANI, INC.EIN 15-0610714Plan #002PY 2023

29 PHELPS ROAD - BINGHAMTON, NY 13902607-722-6476LinkedIn11-50 employeesfood & beverages

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$4.5M

+2.6% from 2022

Total participants

-43.8% from 2022

Average account balance

$214,254

+90.5% from 2022

Annual return

6.49%

+14.08 pp from 2022

Benchmarks

See 23,824 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,824 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.56M

Not enough data

1 years with asset history on file

Average account balance

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

$217K

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.

84.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$168K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+0.06%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6080

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 codes2E2F2G2J3D

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.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$324K

$13491 / participant

Other / not subdivided$324K100.0%

% of EOY assets

7.196%

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

$214,254

$154,159+39.0%

$130,026+64.8%

$139,456+53.6%

Participation rate

75.0%

82.0%-7.0pp

78.5%-3.5pp

80.3%-5.3pp

Annual return

6.49%

32.50%-26.0pp

-137.26%+143.8pp

373.45%-367.0pp

Employer contribution / active EE

$1,107

$5,292-79.1%

$4,321-74.4%

$4,753-76.7%

Participant deferral / active EE

$4,611

$6,710-31.3%

$5,821-20.8%

$6,711-31.3%

Admin fee / account holder

$15,418

$14,001+10.1%

$10,608+45.3%

$11,407+35.2%

ROCCO J. TESTANI, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ROCCO J. TESTANI, INC. 401(K) PLAN

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