Retirement plan

CHAPIN INTERNATIONAL INC 401(K) PROFIT SHARING PLAN & TRUST

Name: CHAPIN INTERNATIONAL INC - CHAPIN INTERNATIONAL INC 401(K) PROFIT SHARING PLAN & TRUST (2020) Form 5500
Creator: CHAPIN INTERNATIONAL INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHAPIN INTERNATIONAL INC 401(K) PROFIT SHARING PLAN & TRUST, CHAPIN INTERNATIONAL INC

CHAPIN INTERNATIONAL INCEIN 16-1560376Plan #001PY 2020

700 ELLICOTT ST - BATAVIA, NY 14020585-343-3140chapinmfg.comLinkedIn201-500 employeesconsumer goods

Other plans on this EIN

1 filing

#002Retirement-$5.1M assets

Prospect flagsLow returnsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$14.7M

No prior year

Total participants

406

No prior year

Average account balance

$41,321

No prior year

Annual return

-16.66%

No prior year

Benchmarks

See 2,819 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort2,819 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$20.88M

Not enough data

1 years with asset history on file

Average account balance

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

$58K

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.

361

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.

94.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.60M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+18.82%

Not enough data

1 years with return on file

Admin fee / account holder

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

$147

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
PAYCHEX, INC.1+ years Service code 13 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625	Contract Administrator	$96,790
TOMPKINS TRUST COMPANY1+ years Service code 13 118 E. SENECA STREET · ITHACA, NY 14851	Contract Administrator	$6,583
ERISA FIDUCIARY SERVICES, INC.1+ years Filed as: ERISA FIDUCIARY SERVICES INC. Service code 13 · EIN 47-1637791 1800 WALT WHITMAN ROAD · MELVILLE, NY 117473237	Contract Administrator	$6,300

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3H

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$123K

$490 / participant

Investment mgmt$11K8.7%
Contract admin$112K91.3%

% of EOY assets

0.836%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CHIAMPOU TRAVIS BESAW KERSHNER LLP
Auditor EIN: 161468002
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$41,321

$100,801-59.0%

$149,715-72.4%

$73,412-43.7%

Participation rate

80.1%

77.7%+2.4pp

82.5%-2.4pp

72.2%+7.9pp

Annual return

-16.66%

265.34%-282.0pp

276.66%-293.3pp

59.30%-76.0pp

Employer contribution / active EE

$3,012

$3,312-9.1%

$4,645-35.2%

$2,234+34.8%

Participant deferral / active EE

$4,453

$6,404-30.5%

$6,842-34.9%

$3,806+17.0%

Admin fee / account holder

$345

$181+91.0%

$9,310-96.3%

$158+118.7%

Provider

Service type

Compensation

PAYCHEX, INC.1+ years

Service code 13 · EIN 16-1124166

911 PANORAMA TRAIL S · ROCHESTER, NY 14625

Contract Administrator

$96,790

TOMPKINS TRUST COMPANY1+ years

Service code 13

118 E. SENECA STREET · ITHACA, NY 14851

Contract Administrator

$6,583

ERISA FIDUCIARY SERVICES, INC.1+ years

Filed as: ERISA FIDUCIARY SERVICES INC.

Service code 13 · EIN 47-1637791

1800 WALT WHITMAN ROAD · MELVILLE, NY 117473237

Contract Administrator

$6,300

CHAPIN INTERNATIONAL INC 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHAPIN INTERNATIONAL INC 401(K) PROFIT SHARING PLAN & 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