Retirement plan

EMPLOYEE BENEFIT PLAN OF DATABIT, INC.

Name: DATABIT, INC. - EMPLOYEE BENEFIT PLAN OF DATABIT, INC. (2020) Form 5500
Creator: DATABIT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EMPLOYEE BENEFIT PLAN OF DATABIT, INC., DATABIT, INC.

DATABIT, INC.EIN 22-3170678Plan #001PY 2020

200 STATE RT 17 STE 101 - MAHWAH, NJ 074301243201-529-8050databitinc.comLinkedIn11-50 employeesinformation technology and services

Prospect flagsLow employer contribution

How to read this page

Total assets (EOY)

$1M

+14.3% from 2019

Total participants

0.0% from 2019

Average account balance

$47,322

+14.3% from 2019

Annual return

8.78%

-8.46 pp from 2019

Benchmarks

See 120,779 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort120,779 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.26M

Not enough data

1 years with asset history on file

Average account balance

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

$67K

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.

146.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$48K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+8.60%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2920

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 codes2F2G2T3D

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.
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

1 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$2K

$162 / participant

Other / not subdivided$2K100.0%

% of EOY assets

0.218%

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

$47,322

$165,361-71.4%

$149,715-68.4%

$158,950-70.2%

Participation rate

100.0%

84.6%+15.4pp

82.5%+17.5pp

82.0%+18.0pp

Annual return

8.78%

348.24%-339.5pp

276.66%-267.9pp

302.91%-294.1pp

Employer contribution / active EE

$5,103-100.0%

$4,645-100.0%

$4,762-100.0%

Participant deferral / active EE

$3,751

$7,182-47.8%

$6,842-45.2%

$5,983-37.3%

Admin fee / account holder

$103

$10,808-99.0%

$9,310-98.9%

$11,248-99.1%

EMPLOYEE BENEFIT PLAN OF DATABIT, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EMPLOYEE BENEFIT PLAN OF DATABIT, INC.

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