Retirement plan

BOYCE TECHNOLOGIES 401(K) PROFIT SHARING PLAN AND TRUST

Name: BOYCE TECHNOLOGIES, INC. - BOYCE TECHNOLOGIES 401(K) PROFIT SHARING PLAN AND TRUST (2021) Form 5500
Creator: BOYCE TECHNOLOGIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BOYCE TECHNOLOGIES 401(K) PROFIT SHARING PLAN AND TRUST, BOYCE TECHNOLOGIES, INC.

BOYCE TECHNOLOGIES, INC.EIN 26-3285276Plan #001PY 2021

47-22 PEARSON PLACE - LONG ISLAND CITY, NY 11101212-385-8585boycetechnologies.comLinkedIn51-200 employeeselectrical/electronic manufacturing

Prospect flagsRecently reached 100 employeesFailed to transmit contributions

How to read this page

Total assets (EOY)

$5.2M

+18.5% from 2020

Total participants

128

-4.5% from 2020

Average account balance

$52,161

+17.3% from 2020

Annual return

12.97%

-17.16 pp from 2020

Benchmarks

See 1,682 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort1,682 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.79M

Not enough data

1 years with asset history on file

Average account balance

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

$106K

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.

103.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$657K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+18.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3161

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

Top 2 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS2 years Filed as: TRANSAMERICA FINAN LIFE INS COMPANY Service code 15 · EIN 36-6071399	Recordkeeping	$7,982
UNITED BENEFIT PENSIONS INC.2 years Service code 10 · EIN 36-4517541	Accounting	$800

Plan features & details

Pension benefit codes2E2G2J2K2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$9K

$88 / participant

Contract admin$9K100.0%

% of EOY assets

0.168%

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: GRASSI & CO, CPAS
Auditor EIN: 113266576
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$52,161

$63,768-18.2%

$98,483-47.0%

$79,391-34.3%

Participation rate

72.0%

69.9%+2.1pp

73.3%-1.3pp

70.7%+1.3pp

Annual return

12.97%

626.18%-613.2pp

1494.38%-1481.4pp

116.88%-103.9pp

Employer contribution / active EE

$2,586

$2,558+1.1%

$2,961-12.6%

$2,428+6.5%

Participant deferral / active EE

$4,708

$3,305+42.5%

$4,276+10.1%

$4,046+16.4%

Admin fee / account holder

$88

$516-83.0%

$5,953-98.5%

$627-86.0%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS2 years

Filed as: TRANSAMERICA FINAN LIFE INS COMPANY

Service code 15 · EIN 36-6071399

Recordkeeping

$7,982

UNITED BENEFIT PENSIONS INC.2 years

Service code 10 · EIN 36-4517541

Accounting

$800

BOYCE TECHNOLOGIES 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BOYCE TECHNOLOGIES 401(K) PROFIT SHARING PLAN AND TRUST

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