Retirement plan

COSTA FARMS, LLC 401(K) PLAN

Name: COSTA FARMS, LLC - COSTA FARMS, LLC 401(K) PLAN (2024) Form 5500
Creator: COSTA FARMS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, COSTA FARMS, LLC 401(K) PLAN, COSTA FARMS, LLC

COSTA FARMS, LLCEIN 27-1453116Plan #001PY 2024

21800 SW 162 AVENUE - MIAMI, FL 33170305-247-3248costafarms.comLinkedIn5001-10000 employeesfarming

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$41.2M

+33.4% from 2023

Total participants

4,459

-0.8% from 2023

Average account balance

$30,072

+15.2% from 2023

Annual return

25.65%

+8.65 pp from 2023

Benchmarks

See 79 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants1,000-4,999

Cohort79 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$41.17M

Not enough data

1 years with asset history on file

Average account balance

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

$30K

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.

1,369

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.

20.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.53M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+25.65%

Not enough data

1 years with return on file

Admin fee / account holder

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

$81

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 5 by compensation

Provider	Service type	Compensation
PROACCOUNT1 year Service code 72 10 W. NATIONWIDE BLVD. · COLUMBUS, OH 43215	Other investment fees and expenses	$30,048
RAYMOND JAMES FINANCIAL SERVICES5 years Filed as: RAYMOND JAMES FIN SERV ADVISORS Service code 26 880 CARILLON PKWY. · SAINT PETERSBURG, FL 337334527	Advisory (Participants)	$23,762
NATIONWIDE8 years Service code 64 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping Fees	$5,619
PENSION SERVICES, INC.10+ years Service code 13 3150 SW 38 AVENUE · MIAMI, FL 33146	Contract Administrator	$5,100
JOHN HANCOCK LIFE INSURANCE COMPANY1 year Filed as: JOHN HANCOCK LIFE INS. CO. (USA) Service code 64 · EIN 01-0233346	Recordkeeping Fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2K3D3H

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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$111K

$29 / participant

Contract admin$111K99.9%
Other / not subdivided$1400.1%

% of EOY assets

0.271%

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: FORVIS MAZARS LLP
Auditor EIN: 440160260
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$30,072

$55,347-45.7%

$120,574-75.1%

$199,960-85.0%

Participation rate

20.8%

52.9%-32.1pp

71.9%-51.2pp

72.0%-51.2pp

Annual return

25.65%

15.37%+10.3pp

107.42%-81.8pp

34.28%-8.6pp

Employer contribution / active EE

$519

$1,296-60.0%

$3,471-85.1%

$3,036-82.9%

Participant deferral / active EE

$898

$2,350-61.8%

$4,996-82.0%

$5,087-82.3%

Admin fee / account holder

$81

$134-39.3%

$9,445-99.1%

$269-69.8%

Provider

Service type

Compensation

PROACCOUNT1 year

Service code 72

10 W. NATIONWIDE BLVD. · COLUMBUS, OH 43215

Other investment fees and expenses

$30,048

RAYMOND JAMES FINANCIAL SERVICES5 years

Filed as: RAYMOND JAMES FIN SERV ADVISORS

Service code 26

880 CARILLON PKWY. · SAINT PETERSBURG, FL 337334527

Advisory (Participants)

$23,762

NATIONWIDE8 years

Service code 64

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping Fees

$5,619

PENSION SERVICES, INC.10+ years

Service code 13

3150 SW 38 AVENUE · MIAMI, FL 33146

Contract Administrator

$5,100

JOHN HANCOCK LIFE INSURANCE COMPANY1 year

Filed as: JOHN HANCOCK LIFE INS. CO. (USA)

Service code 64 · EIN 01-0233346

Recordkeeping Fees

COSTA FARMS, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

COSTA FARMS, LLC 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