Retirement plan

FREEMAN BOATWORKS, LLC 401(K) PLAN

Name: FREEMAN BOATWORKS, LLC - FREEMAN BOATWORKS, LLC 401(K) PLAN (2020) Form 5500
Creator: FREEMAN BOATWORKS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FREEMAN BOATWORKS, LLC 401(K) PLAN, FREEMAN BOATWORKS, LLC

FREEMAN BOATWORKS, LLCEIN 30-0893980Plan #001PY 2020

124 SPRING GROVE DR - MONCKS CORNER, SC 294616409843-708-7587freemanboatworks.comLinkedIn201-500 employeesshipbuilding

Prospect flagsHigh feesLow assets / participant

How to read this page

Total assets (EOY)

$805K

+181.2% from 2019

Total participants

-3.5% from 2019

Average account balance

$20,125

+96.8% from 2019

Annual return

90.16%

+90.16 pp from 2019

Benchmarks

See 9,301 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants25-99

Cohort9,301 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.87M

Not enough data

1 years with asset history on file

Average account balance

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

$32K

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.

122

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.

44.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$839K

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

+19.46%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3241

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 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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$41K

$782 / participant

Other / not subdivided$41K100.0%

% of EOY assets

5.052%

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

$20,125

$65,027-69.1%

$90,970-77.9%

$79,852-74.8%

Participation rate

71.2%

61.6%+9.5pp

69.0%+2.1pp

69.6%+1.5pp

Annual return

90.16%

30.45%+59.7pp

134.58%-44.4pp

31.72%+58.4pp

Employer contribution / active EE

$2,229

$1,247+78.7%

$2,122+5.0%

$2,471-9.8%

Participant deferral / active EE

$3,419

$2,512+36.1%

$3,373+1.3%

$3,740-8.6%

Admin fee / account holder

$1,017

$4,535-77.6%

$5,960-82.9%

$5,306-80.8%

FREEMAN BOATWORKS, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FREEMAN BOATWORKS, 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