Retirement plan

AREA STORAGE & TRANSFER INC. PREVAILING WAGE PLAN

Name: AREA STORAGE & TRANSFER INC. - AREA STORAGE & TRANSFER INC. PREVAILING WAGE PLAN (2023) Form 5500
Creator: AREA STORAGE & TRANSFER INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AREA STORAGE & TRANSFER INC. PREVAILING WAGE PLAN, AREA STORAGE & TRANSFER INC.

AREA STORAGE & TRANSFER INC.EIN 22-2981560Plan #002PY 2023

P.O. BOX 60370 - HARRISBURG, PA 17106717-599-7655wearearea.comLinkedIn201-500 employeestransportation/trucking/railroad

Other plans on this EIN

1 filing

#001Retirement-$2.3M assets

Prospect flagsLow returnsLow assets / participant

How to read this page

Total assets (EOY)

$6.8M

+6.0% from 2022

Total participants

805

+91.2% from 2022

Average account balance

$8,718

-44.6% from 2022

Annual return

14.16%

+29.76 pp from 2022

Benchmarks

See 665 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants250-999

Cohort665 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.58M

Not enough data

1 years with asset history on file

Average account balance

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

$45K

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.

169

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.

30.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$934K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+10.56%

Not enough data

1 years with return on file

Admin fee / account holder

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

$285

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 1 by compensation

Provider	Service type	Compensation
CEP CONSULTANTS, INC1 year Filed as: CEP CONSULTANTS, INC. Service code 64 1373 VETERANS HIGHWAY STE 10 · HAUPPAUGE, NY 11788	Recordkeeping Fees	$0

Plan features & details

Pension benefit codes2A2F2G2T3C

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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.
3C
Plan not intended to be qualified
A plan not intended to be qualified under Code sections 401 403 or 408.

Opportunity flags

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$57K

$120 / participant

Contract admin$57K100.0%

% of EOY assets

0.829%

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: MIKE AVERSANO CPA, P.C.
Auditor EIN: 475684521
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$8,718

$49,693-82.5%

$70,544-87.6%

$74,460-88.3%

Participation rate

95.3%

64.7%+30.7pp

68.4%+27.0pp

70.7%+24.6pp

Annual return

14.16%

21.22%-7.1pp

32.79%-18.6pp

34.38%-20.2pp

Employer contribution / active EE

$1,997

$1,773+12.6%

$2,976-32.9%

$2,638-24.3%

Participant deferral / active EE

$3,376-100.0%

$4,568-100.0%

$4,530-100.0%

Admin fee / account holder

$72

$316-77.1%

$6,427-98.9%

$348-79.2%

Provider

Service type

Compensation

CEP CONSULTANTS, INC1 year

Filed as: CEP CONSULTANTS, INC.

Service code 64

1373 VETERANS HIGHWAY STE 10 · HAUPPAUGE, NY 11788

Recordkeeping Fees

AREA STORAGE & TRANSFER INC. PREVAILING WAGE PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AREA STORAGE & TRANSFER INC. PREVAILING WAGE 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