Retirement plan

IDEAL DEALS, LLC 401(K) PROFIT SHARING PLAN AND TRUST

Name: IDEAL DEALS, LLC - IDEAL DEALS, LLC 401(K) PROFIT SHARING PLAN AND TRUST (2024) Form 5500
Creator: IDEAL DEALS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IDEAL DEALS, LLC 401(K) PROFIT SHARING PLAN AND TRUST, IDEAL DEALS, LLC

IDEAL DEALS, LLCEIN 27-2763577Plan #001PY 2024

3200 PARKER DRIVE - ST. AUGUSTINE, FL 32084904-417-6404idealmeals.comLinkedIn1-10 employeesfood & beverages

Prospect flagsLow assets / participantLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$2M

+22.9% from 2023

Total participants

187

+12.0% from 2023

Average account balance

$11,414

+3.9% from 2023

Annual return

12.43%

-7.29 pp from 2023

Benchmarks

See 4,103 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,103 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.99M

Not enough data

1 years with asset history on file

Average account balance

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

$11K

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.

174

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.

88.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$310K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+12.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

$76

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 2 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY1 year Service code 15 · EIN 01-0233346 PO BOX 55979 · BOSTON, MA 022055979	Recordkeeping	$1,172
NFP RETIREMENT INC1 year Filed as: NFP RETIREMENT, INC Service code 26 · EIN 33-0905143 120 VANTIS DR · ALISO VIEJO, CA 92656	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2E2J2F2G3D2A2T

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.
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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match 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

$13K

$122 / participant

Recordkeeping$2K14.3%
Contract admin$11K85.7%

% of EOY assets

0.668%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CHERRY BEKAERT LLP
Auditor EIN: 560574444
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$11,414

$79,181-85.6%

$102,423-88.9%

$74,429-84.7%

Participation rate

88.1%

74.8%+13.3pp

76.5%+11.6pp

67.2%+20.9pp

Annual return

12.43%

54.97%-42.5pp

29.42%-17.0pp

1368.38%-1356.0pp

Employer contribution / active EE

$1,216

$2,362-48.5%

$3,023-59.8%

$2,625-53.7%

Participant deferral / active EE

$1,627

$4,416-63.2%

$5,054-67.8%

$4,348-62.6%

Admin fee / account holder

$76

$2,002-96.2%

$9,455-99.2%

$1,944-96.1%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY1 year

Service code 15 · EIN 01-0233346

PO BOX 55979 · BOSTON, MA 022055979

Recordkeeping

$1,172

NFP RETIREMENT INC1 year

Filed as: NFP RETIREMENT, INC

Service code 26 · EIN 33-0905143

120 VANTIS DR · ALISO VIEJO, CA 92656

Advisory (Participants)

IDEAL DEALS, LLC 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IDEAL DEALS, LLC 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