Retirement plan

COLVIN CLEANERS, INC. 401(K) PROFIT SHARING PLAN

Name: COLVIN CLEANERS, INC. - COLVIN CLEANERS, INC. 401(K) PROFIT SHARING PLAN (2019) Form 5500
Creator: COLVIN CLEANERS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, COLVIN CLEANERS, INC. 401(K) PROFIT SHARING PLAN, COLVIN CLEANERS, INC.

COLVIN CLEANERS, INC.EIN 16-0921350Plan #002PY 2019

2375 ELMWOOD AVENUE - KENMORE, NY 14217716-603-7902colvincleaners.comLinkedIn51-200 employeesconsumer services

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.5M

-31.1% from 2018

Total participants

+11.1% from 2018

Average account balance

$31,956

-34.0% from 2018

Annual return

14.94%

+21.51 pp from 2018

Benchmarks

See 9,366 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants25-99

Cohort9,366 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.39M

Not enough data

1 years with asset history on file

Average account balance

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

$56K

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.

107.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$288K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+13.87%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5308

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

3 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.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$1.2M

$25863 / participant

Other / not subdivided$1M100.0%

% of EOY assets

79.212%

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

$31,956

$58,493-45.4%

$84,023-62.0%

$72,976-56.2%

Participation rate

93.5%

61.2%+32.2pp

69.0%+24.5pp

69.5%+24.0pp

Annual return

14.94%

28.93%-14.0pp

71.32%-56.4pp

81.02%-66.1pp

Employer contribution / active EE

$1,127

$1,163-3.1%

$1,984-43.2%

$2,440-53.8%

Participant deferral / active EE

$2,937

$2,394+22.7%

$3,239-9.3%

$3,608-18.6%

Admin fee / account holder

$25,313

$4,569+454.0%

$6,102+314.8%

$5,124+394.0%

COLVIN CLEANERS, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

COLVIN CLEANERS, INC. 401(K) PROFIT SHARING 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