Retirement plan

LOVN KARE CARPET, INC. 401(K) PROFIT SHARING PLAN AND TRUST

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

LOVN KARE CARPET, INC.EIN 27-2942428Plan #001PY 2024

VICTORY BRIDGE PLAZA - SOUTH AMBOY, NJ 08879732-721-1582

Prospect flagsLow returnsLow fidelity bond

How to read this page

Total assets (EOY)

$21K

+28.4% from 2023

Total participants

-33.3% from 2023

Average account balance

$10,405

+28.4% from 2023

Annual return

6.56%

-6.60 pp from 2023

Benchmarks

See 19,460 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants<25

Cohort19,460 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$21K

Not enough data

1 years with asset history on file

Average account balance

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

$10K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+6.56%

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

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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 codes2E2F2G2J2T3D

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.
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 returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

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

$10,405

$99,921-89.6%

$85,009-87.8%

$145,959-92.9%

Participation rate

100.0%

74.1%+25.9pp

67.5%+32.5pp

80.3%+19.7pp

Annual return

6.56%

83.89%-77.3pp

66.47%-59.9pp

561.95%-555.4pp

Employer contribution / active EE

$3,233-100.0%

$2,728-100.0%

$4,661-100.0%

Participant deferral / active EE

$1,771

$5,293-66.5%

$4,522-60.8%

$6,689-73.5%

Admin fee / account holder

$7,252-100.0%

$6,153-100.0%

$13,398-100.0%

LOVN KARE CARPET, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

LOVN KARE CARPET, INC. 401(K) PROFIT SHARING PLAN AND TRUST

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