Retirement plan

CAREFREE FINANCIAL MANAGEMENT, INC. 401(K) PLAN

Name: CAREFREE FINANCIAL MANAGEMENT, INC. - CAREFREE FINANCIAL MANAGEMENT, INC. 401(K) PLAN (2020) Form 5500
Creator: CAREFREE FINANCIAL MANAGEMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CAREFREE FINANCIAL MANAGEMENT, INC. 401(K) PLAN, CAREFREE FINANCIAL MANAGEMENT, INC.

CAREFREE FINANCIAL MANAGEMENT, INC.EIN 20-8744270Plan #001PY 2020

PO BOX 774 - AUSTIN, TX 78767512-481-9506carefreefinancial.comLinkedIn1-10 employeesfinancial services

Prospect flagsLow participationHigh assets / participant

How to read this page

Total assets (EOY)

$321K

No prior year

Total participants

No prior year

Average account balance

$321,186

No prior year

Annual return

13.37%

No prior year

Benchmarks

See 120,756 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort120,756 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$494K

Not enough data

1 years with asset history on file

Average account balance

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

$247K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$44K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$22K

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

+7.40%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2E2F2G2J2T3B3D

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.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

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

$321,186

$165,381+94.2%

$149,730+114.5%

$158,966+102.0%

Participation rate

50.0%

84.6%-34.6pp

82.5%-32.5pp

82.0%-32.0pp

Annual return

13.37%

348.29%-334.9pp

276.70%-263.3pp

302.95%-289.6pp

Employer contribution / active EE

$28,000

$5,104+448.6%

$4,645+502.8%

$4,762+487.9%

Participant deferral / active EE

$2,375

$7,182-66.9%

$6,843-65.3%

$5,983-60.3%

Admin fee / account holder

$10,809-100.0%

$9,310-100.0%

$11,250-100.0%

CAREFREE FINANCIAL MANAGEMENT, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

CAREFREE FINANCIAL MANAGEMENT, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion