Retirement plan

EAST COAST REPAIR AND FABRICATION 401(K) PROFIT SHARING PLAN

Name: EAST COAST REPAIR AND FABRICATION, LLC - EAST COAST REPAIR AND FABRICATION 401(K) PROFIT SHARING PLAN (2015) Form 5500
Creator: EAST COAST REPAIR AND FABRICATION, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EAST COAST REPAIR AND FABRICATION 401(K) PROFIT SHARING PLAN, EAST COAST REPAIR AND FABRICATION, LLC

EAST COAST REPAIR AND FABRICATION, LLCEIN 26-1653965Plan #001PY 2015

P O BOX 13687 - CHESAPEAKE, VA 23325757-455-9600

Prospect flagsLow returnsLow participationFailed to transmit contributionsFailed to provide benefitCorrective distributions

How to read this page

Total assets (EOY)

$3.5M

No prior year

Total participants

148

No prior year

Average account balance

$39,027

No prior year

Annual return

-1.88%

No prior year

Benchmarks

See 3,906 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort3,906 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$14.04M

Not enough data

1 years with asset history on file

Average account balance

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

$59K

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.

236

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.

72.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.47M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+11.21%

Not enough data

1 years with return on file

Admin fee / account holder

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

$134

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
MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 52 · EIN 04-1590850	Indirect Investment Fees	$21,178
SECURITIES AMERICA INC1+ years Filed as: BB&T SECURITIES, LLC Service code 53 · EIN 20-5817590	Insurance Commissions	$12,808
MCPHILLIPS, ROBERTS & DEANS, PLC1+ years Filed as: MCPHILLIPS, ROBERTS & DEANS, PC Service code 13	Contract Administrator	$1,662
MCPHILLIPS, ROBERTS & DEANS, PLC1+ years Filed as: MCPHILLIPS, ROBERTS & DEANS Service code 13 · EIN 54-1921942	Contract Administrator	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3B3D3H

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).
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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$21K

$160 / participant

Investment mgmt$17K80.5%
Contract admin$4K19.5%
Other / not subdivided$100.0%

% of EOY assets

0.610%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CHARLES W. SNADER, PC
Auditor EIN: 541873714
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$39,027

$54,320-28.2%

$67,652-42.3%

$52,331-25.4%

Participation rate

55.3%

73.6%-18.3pp

75.7%-20.4pp

68.1%-12.8pp

Annual return

-1.88%

6.81%-8.7pp

6625.40%-6627.3pp

4.54%-6.4pp

Employer contribution / active EE

$2,394

$1,544+55.1%

$2,266+5.7%

$1,882+27.2%

Participant deferral / active EE

$3,107

$2,950+5.3%

$3,560-12.7%

$3,022+2.8%

Admin fee / account holder

$238

$527-54.8%

$4,821-95.1%

$592-59.8%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$21,178

SECURITIES AMERICA INC1+ years

Filed as: BB&T SECURITIES, LLC

Service code 53 · EIN 20-5817590

Insurance Commissions

$12,808

MCPHILLIPS, ROBERTS & DEANS, PLC1+ years

Filed as: MCPHILLIPS, ROBERTS & DEANS, PC

Service code 13

Contract Administrator

$1,662

MCPHILLIPS, ROBERTS & DEANS, PLC1+ years

Filed as: MCPHILLIPS, ROBERTS & DEANS

Service code 13 · EIN 54-1921942

Contract Administrator

EAST COAST REPAIR AND FABRICATION 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EAST COAST REPAIR AND FABRICATION 401(K) PROFIT SHARING 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