Retirement plan

CAROLINA DEALERSHIPS, INC. 401(K) PLAN

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

CAROLINA DEALERSHIPS, INC.EIN 20-0465434Plan #001PY 2019

PO BOX 5657 - WINSTON SALEM, NC 27113336-724-5921

Prospect flagsLow returnsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$66.5M

+19.5% from 2018

Total participants

2,186

-0.4% from 2018

Average account balance

$38,878

+21.1% from 2018

Annual return

18.88%

+23.03 pp from 2018

Benchmarks

See 355 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants1,000-4,999

Cohort355 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$112.24M

Not enough data

1 years with asset history on file

Average account balance

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

$39K

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.

2,866

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.

82.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$13.28M

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

+13.27%

Not enough data

1 years with return on file

Admin fee / account holder

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

$269

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 8 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS1 year Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN Service code 15 · EIN 36-6071399	Recordkeeping	$138,557
NOVA 401(K) ASSOCIATES1 year Service code 15 · EIN 20-1181458	Recordkeeping	$96,386
MERRILL LYNCH PIERCE FENNER & SMITH1 year Filed as: MERRILL LYNCH LIFE AGENCY, INC. Service code 27 · EIN 13-2808480	Advisory (Plan)	$66,319
ADMINISTRATIVE FIDUCIARY SERVICES1 year Service code 31 · EIN 46-2919997	Named fiduciary	$62,872
BKD, LLP1 year Filed as: DIXON HUGHES GOODMAN Service code 10 · EIN 56-0747981	Accounting	$20,109
MASSACHUSETTS MUTUAL LIFE INS. CO.1 year Filed as: MASS MUTUAL RETIREMENT SERVICES LLC Service code 15	Recordkeeping	$10,839
NOVA 401(K) ASSOCIATES1 year Filed as: NOVA 401(K) ASSOCIATES, LP Service code 15	Recordkeeping	$7,903
MASSACHUSETTS MUTUAL LIFE INS. CO.5+ years Filed as: MASSMUTUAL RETIREMENT SERVICES, LLC Service code 15 · EIN 26-1589907	Recordkeeping	$780

Plan features & details

Pension benefit codes2E2F2J2G2K2T3D3H

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.
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

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).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$397K

$224 / participant

Contract admin$397K100.0%

% of EOY assets

0.597%

all-in expense ratio

Categories reported

1 / 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: DIXON HUGHES GOODMAN LLP
Auditor EIN: 560747981
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$38,878

$40,113-3.1%

$84,023-53.7%

$77,775-50.0%

Participation rate

73.1%

62.8%+10.3pp

69.0%+4.1pp

73.2%-0.1pp

Annual return

18.88%

23.27%-4.4pp

71.32%-52.4pp

32.58%-13.7pp

Employer contribution / active EE

$804

$847-5.1%

$1,984-59.5%

$2,504-67.9%

Participant deferral / active EE

$2,566

$2,030+26.4%

$3,239-20.8%

$3,966-35.3%

Admin fee / account holder

$232

$92+153.2%

$6,102-96.2%

$100+131.8%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS1 year

Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN

Service code 15 · EIN 36-6071399

Recordkeeping

$138,557

NOVA 401(K) ASSOCIATES1 year

Service code 15 · EIN 20-1181458

Recordkeeping

$96,386

MERRILL LYNCH PIERCE FENNER & SMITH1 year

Filed as: MERRILL LYNCH LIFE AGENCY, INC.

Service code 27 · EIN 13-2808480

Advisory (Plan)

$66,319

ADMINISTRATIVE FIDUCIARY SERVICES1 year

Service code 31 · EIN 46-2919997

Named fiduciary

$62,872

BKD, LLP1 year

Filed as: DIXON HUGHES GOODMAN

Service code 10 · EIN 56-0747981

Accounting

$20,109

MASSACHUSETTS MUTUAL LIFE INS. CO.1 year

Filed as: MASS MUTUAL RETIREMENT SERVICES LLC

Service code 15

Recordkeeping

$10,839

NOVA 401(K) ASSOCIATES1 year

Filed as: NOVA 401(K) ASSOCIATES, LP

Service code 15

Recordkeeping

$7,903

MASSACHUSETTS MUTUAL LIFE INS. CO.5+ years

Filed as: MASSMUTUAL RETIREMENT SERVICES, LLC

Service code 15 · EIN 26-1589907

Recordkeeping

$780

CAROLINA DEALERSHIPS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CAROLINA DEALERSHIPS, 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