Retirement plan

CAROLINA DEALERSHIPS INC. 401(K) PLAN

Name: CAROLINA DEALERSHIPS INC. - CAROLINA DEALERSHIPS INC. 401(K) PLAN (2021) 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 2021

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

Prospect flagsLow returnsFailed to transmit contributions

How to read this page

Total assets (EOY)

$89.9M

+12.8% from 2020

Total participants

2,442

+3.4% from 2020

Average account balance

$44,723

+3.5% from 2020

Annual return

10.61%

-9.07 pp from 2020

Benchmarks

See 360 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants1,000-4,999

Cohort360 peers

Snapshot2021

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 5 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS3 years Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN Service code 15 · EIN 36-6071399	Recordkeeping	$205,135
MERRILL LYNCH PIERCE FENNER & SMITH3 years Filed as: MERRILL LYNCH LIFE AGENCY, INC. Service code 27 · EIN 13-2808480	Advisory (Plan)	$124,494
ADMINISTRATIVE FIDUCIARY SERVICES3 years Service code 31 · EIN 46-2919997	Named fiduciary	$75,416
NOVA 401(K) ASSOCIATES3 years Service code 15 · EIN 20-1181458	Recordkeeping	$56,164
BKD, LLP3 years Filed as: DIXON HUGHES GOODMAN Service code 10 · EIN 56-0747981	Accounting	$25,558

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

2 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).

Expense breakdown

Schedule H Part II

Admin total

$485K

$241 / participant

Contract admin$485K100.0%

% of EOY assets

0.540%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FORVIS, LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$44,723

$48,166-7.1%

$96,570-53.7%

$93,010-51.9%

Participation rate

78.6%

65.1%+13.5pp

69.8%+8.8pp

73.9%+4.7pp

Annual return

10.61%

21.31%-10.7pp

37.79%-27.2pp

158.70%-148.1pp

Employer contribution / active EE

$1,103

$1,070+3.1%

$2,357-53.2%

$2,705-59.2%

Participant deferral / active EE

$3,617

$2,576+40.4%

$3,849-6.0%

$4,561-20.7%

Admin fee / account holder

$241

$110+118.9%

$6,182-96.1%

$152+59.1%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS3 years

Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN

Service code 15 · EIN 36-6071399

Recordkeeping

$205,135

MERRILL LYNCH PIERCE FENNER & SMITH3 years

Filed as: MERRILL LYNCH LIFE AGENCY, INC.

Service code 27 · EIN 13-2808480

Advisory (Plan)

$124,494

ADMINISTRATIVE FIDUCIARY SERVICES3 years

Service code 31 · EIN 46-2919997

Named fiduciary

$75,416

NOVA 401(K) ASSOCIATES3 years

Service code 15 · EIN 20-1181458

Recordkeeping

$56,164

BKD, LLP3 years

Filed as: DIXON HUGHES GOODMAN

Service code 10 · EIN 56-0747981

Accounting

$25,558

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