Retirement plan

INDEPENDENCE SPIRITS 401(K) PROFIT SHARING PLAN

Name: INDEPENDENCE SPIRITS - INDEPENDENCE SPIRITS 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: INDEPENDENCE SPIRITS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INDEPENDENCE SPIRITS 401(K) PROFIT SHARING PLAN, INDEPENDENCE SPIRITS

INDEPENDENCE SPIRITSEIN 27-2415758Plan #001PY 2020

175 SW 7TH STREET, SUITE 1210 - MIAMI, FL 33130305-856-0010independenceco.netLinkedIn1-10 employeesmanagement consulting

Prospect flagsLow returnsLow participation

How to read this page

Total assets (EOY)

$164K

+16.2% from 2019

Total participants

-20.0% from 2019

Average account balance

$54,789

+16.2% from 2019

Annual return

0.65%

-4.36 pp from 2019

Benchmarks

See 18,871 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort18,871 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$295K

Not enough data

1 years with asset history on file

Average account balance

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

$98K

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.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+3.77%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2E2F2J2T3D

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).
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.
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

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.

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

$54,789

$112,935-51.5%

$90,970-39.8%

$158,966-65.5%

Participation rate

66.7%

74.7%-8.1pp

69.0%-2.3pp

82.0%-15.3pp

Annual return

0.65%

215.79%-215.1pp

134.58%-133.9pp

302.95%-302.3pp

Employer contribution / active EE

$636

$2,895-78.0%

$2,122-70.0%

$4,762-86.6%

Participant deferral / active EE

$6,688

$4,129+62.0%

$3,373+98.3%

$5,983+11.8%

Admin fee / account holder

$8,045-100.0%

$5,960-100.0%

$11,250-100.0%

INDEPENDENCE SPIRITS 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

INDEPENDENCE SPIRITS 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion