Retirement plan

COVETED FINANCIAL SERVICES LLC 401K PLAN

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

COVETED FINANCIAL SERVICES LLCEIN 32-0335713Plan #001PY 2020

1906 JEANETTE AVE - SAINT CHARLES, IL 60174630-817-7631covfinancial.comLinkedIn1-10 employeesfinancial services

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$376K

+83.2% from 2019

Total participants

+40.0% from 2019

Average account balance

$47,044

+37.4% from 2019

Annual return

43.99%

+15.93 pp from 2019

Benchmarks

See 120,756 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort120,756 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.86M

Not enough data

1 years with asset history on file

Average account balance

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

$169K

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.

68.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$94K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+11.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1647

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

1 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$2K

$135 / participant

Other / not subdivided$2K100.0%

% of EOY assets

0.502%

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

$47,044

$165,381-71.6%

$149,730-68.6%

$158,966-70.4%

Participation rate

57.1%

84.6%-27.4pp

82.5%-25.3pp

82.0%-24.8pp

Annual return

43.99%

348.29%-304.3pp

276.70%-232.7pp

302.95%-259.0pp

Employer contribution / active EE

$1,090

$5,104-78.7%

$4,645-76.5%

$4,762-77.1%

Participant deferral / active EE

$4,659

$7,182-35.1%

$6,843-31.9%

$5,983-22.1%

Admin fee / account holder

$236

$10,809-97.8%

$9,310-97.5%

$11,250-97.9%

COVETED FINANCIAL SERVICES LLC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

COVETED FINANCIAL SERVICES LLC 401K 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