Retirement plan

CHANNEL MEDSYSTEMS 401(K) PLAN

Name: CHANNEL MEDSYSTEMS - CHANNEL MEDSYSTEMS 401(K) PLAN (2022) Form 5500
Creator: CHANNEL MEDSYSTEMS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHANNEL MEDSYSTEMS 401(K) PLAN, CHANNEL MEDSYSTEMS

CHANNEL MEDSYSTEMSEIN 27-4697214Plan #001PY 2022

2919 7TH STREET - BERKELEY, CA 94710603-318-5084LinkedIn11-50 employeesmedical devices

Prospect flagsHigh feesLow employer contributionLow fidelity bond

How to read this page

Total assets (EOY)

$2.1M

-8.9% from 2021

Total participants

+40.7% from 2021

Average account balance

$69,554

-33.2% from 2021

Annual return

-17.41%

-38.49 pp from 2021

Benchmarks

See 9,164 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,164 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.24M

Not enough data

1 years with asset history on file

Average account balance

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

$97K

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.

104.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$331K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+11.72%

Not enough data

1 years with return on file

Admin fee / account holder

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

$46675

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 codes2E3D2G2J2F2T

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

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$225K

$6085 / participant

Other / not subdivided$225K100.0%

% of EOY assets

10.790%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

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

$69,554

$81,870-15.0%

$119,634-41.9%

$68,490+1.6%

Participation rate

78.4%

71.9%+6.5pp

79.3%-0.9pp

67.9%+10.5pp

Annual return

-17.41%

-23.82%+6.4pp

-14.98%-2.4pp

-7.85%-9.6pp

Employer contribution / active EE

$135

$2,692-95.0%

$4,232-96.8%

$2,597-94.8%

Participant deferral / active EE

$10,796

$4,148+160.3%

$5,601+92.7%

$4,028+168.0%

Admin fee / account holder

$7,505

$6,583+14.0%

$10,329-27.3%

$5,403+38.9%

CHANNEL MEDSYSTEMS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHANNEL MEDSYSTEMS 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