Retirement plan

BMW OF MANHATTAN, INC. 401(K) PLAN

Name: BMW OF MANHATTAN, INC. - BMW OF MANHATTAN, INC. 401(K) PLAN (2024) Form 5500
Creator: BMW OF MANHATTAN, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BMW OF MANHATTAN, INC. 401(K) PLAN, BMW OF MANHATTAN, INC.

BMW OF MANHATTAN, INC.EIN 22-3116303Plan #001PY 2024

THE BMW BUILDING, 555 WEST 57TH STREET - NEW YORK, NY 10019212-586-2269bmwnyc.comLinkedIn501-1000 employeesautomotive

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$15.7M

+17.2% from 2023

Total participants

130

-1.5% from 2023

Average account balance

$122,291

-7.5% from 2023

Annual return

12.83%

-1.73 pp from 2023

Benchmarks

See 65 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Cohort65 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.65M

Not enough data

1 years with asset history on file

Average account balance

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

$122K

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.

128

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.

98.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.02M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+12.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$469

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 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY8 years Service code 13 · EIN 42-0127290	Contract Administrator	$58,053
PARK AVENUE SECURITIES LLC8 years Service code 49 · EIN 13-4023176	Other Services	$27,989
ASSOCIATED PENSION CONSULTANTS8 years Filed as: ASSOCIATED PENSION CONSULTANTS, INC Service code 13 · EIN 11-3271022 401 BROADHOLLOW ROAD · MELVILLE, NY 11747	Contract Administrator	$7,613
WILSHIRE ASSOCIATES INCORPORATED1 year Filed as: WILSHIRE ADVISORS LLC Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2G2J2K3D2F2S

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$60K

$607 / participant

Other / not subdivided$60K100.0%

% of EOY assets

0.384%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WITHUMSMITH AND BROWN
Auditor EIN: 222027092
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$122,291

$51,821+136.0%

$93,696+30.5%

Participation rate

98.0%

67.7%+30.3pp

68.7%+29.3pp

Annual return

12.83%

11.30%+1.5pp

133.74%-120.9pp

Employer contribution / active EE

$2,088

$1,278+63.4%

$2,422-13.8%

Participant deferral / active EE

$8,198

$3,260+151.5%

$4,417+85.6%

Admin fee / account holder

$469

$4,565-89.7%

$8,287-94.3%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY8 years

Service code 13 · EIN 42-0127290

Contract Administrator

$58,053

PARK AVENUE SECURITIES LLC8 years

Service code 49 · EIN 13-4023176

Other Services

$27,989

ASSOCIATED PENSION CONSULTANTS8 years

Filed as: ASSOCIATED PENSION CONSULTANTS, INC

Service code 13 · EIN 11-3271022

401 BROADHOLLOW ROAD · MELVILLE, NY 11747

Contract Administrator

$7,613

WILSHIRE ASSOCIATES INCORPORATED1 year

Filed as: WILSHIRE ADVISORS LLC

Service code 27 · EIN 95-2755361

Advisory (Plan)

BMW OF MANHATTAN, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BMW OF MANHATTAN, 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