Retirement plan

DRIVEWISE AUTO 401(K) PLAN

Name: DRIVEWISE AUTO INC. - DRIVEWISE AUTO 401(K) PLAN (2022) Form 5500
Creator: DRIVEWISE AUTO INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DRIVEWISE AUTO 401(K) PLAN, DRIVEWISE AUTO INC.

DRIVEWISE AUTO INC.EIN 20-8786188Plan #001PY 2022

6862 HAYVENHURST AVE UNIT D - VAN NUYS, CA 91406818-345-5555adamslobin.comLinkedIn1-10 employeesautomotive

Prospect flagsLow assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$66K

No prior year

Total participants

No prior year

Average account balance

$9,405

No prior year

Annual return

0.00%

No prior year

Benchmarks

See 18,479 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants<25

Cohort18,479 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$360K

Not enough data

1 years with asset history on file

Average account balance

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

$51K

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.

70.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$125K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+17.36%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1585

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 codes2F2G2H2J2T3D

Plan features

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.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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 assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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

$45

$6 / participant

Other / not subdivided$45100.0%

% of EOY assets

0.068%

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

$9,405

$190,879-95.1%

$160,009-94.1%

$134,532-93.0%

Participation rate

87.5%

82.0%+5.5pp

78.0%+9.5pp

81.2%+6.3pp

Annual return

0.00%

552.63%-552.6pp

408.85%-408.8pp

418.27%-418.3pp

Employer contribution / active EE

$1,054

$4,995-78.9%

$4,225-75.1%

$4,741-77.8%

Participant deferral / active EE

$6,992

$6,924+1.0%

$6,183+13.1%

$6,401+9.2%

Admin fee / account holder

$10,495-99.9%

$8,715-99.9%

$11,429-99.9%

DRIVEWISE AUTO 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DRIVEWISE AUTO 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