Retirement plan

THE FAVRET COMPANY 401(K) PROFIT SHARING PLAN & TRUST

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

THE FAVRET COMPANYEIN 31-4343310Plan #002PY 2020

1296 DUBLIN ROAD - COLUMBUS, OH 43215614-488-5211favret-law.comLinkedIn1-10 employees

Other plans on this EIN

1 filing

#001Retirement-$2.1M assets

Prospect flagsHigh feesLow assets / participant

How to read this page

Total assets (EOY)

$341K

+21.2% from 2019

Total participants

-5.7% from 2019

Average account balance

$6,963

+28.6% from 2019

Annual return

12.49%

-10.00 pp from 2019

Benchmarks

See 8,767 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort8,767 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$839K

Not enough data

1 years with asset history on file

Average account balance

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

$18K

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.

156.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$128K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+15.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$366

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

$39K

$1245 / participant

Other / not subdivided$39K100.0%

% of EOY assets

11.307%

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

$6,963

$60,139-88.4%

$90,461-92.3%

$79,856-91.3%

Participation rate

96.8%

65.0%+31.8pp

72.7%+24.1pp

69.6%+27.1pp

Annual return

12.49%

71.96%-59.5pp

1294.76%-1282.3pp

31.71%-19.2pp

Employer contribution / active EE

$616

$2,069-70.2%

$3,264-81.1%

$2,471-75.1%

Participant deferral / active EE

$1,322

$2,939-55.0%

$3,964-66.6%

$3,741-64.6%

Admin fee / account holder

$787

$3,978-80.2%

$5,617-86.0%

$5,306-85.2%

THE FAVRET COMPANY 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE FAVRET COMPANY 401(K) PROFIT SHARING PLAN & 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