Retirement plan

FRED OLIVIERI CONSTRUCTION COMPANY 401(K) & PROFIT SHARING PLAN

Name: FRED OLIVIERI CONSTRUCTION COMPANY - FRED OLIVIERI CONSTRUCTION COMPANY 401(K) & PROFIT SHARING PLAN (2023) Form 5500
Creator: FRED OLIVIERI CONSTRUCTION COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FRED OLIVIERI CONSTRUCTION COMPANY 401(K) & PROFIT SHARING PLAN, FRED OLIVIERI CONSTRUCTION COMPANY

FRED OLIVIERI CONSTRUCTION COMPANYEIN 34-0936045Plan #003PY 2023

6315 PROMWAY AVE. NW - NORTH CANTON, OH 44720330-494-1007fredolivieri.comLinkedIn51-200 employeesconstruction

Prospect flagsLow returnsHigh feesLow participation

How to read this page

Total assets (EOY)

$11.2M

-14.2% from 2022

Total participants

128

+6.7% from 2022

Average account balance

$118,744

-14.2% from 2022

Annual return

12.49%

+26.06 pp from 2022

Benchmarks

See 3,251 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,251 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.76M

Not enough data

1 years with asset history on file

Average account balance

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

$159K

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.

98.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$657K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

-22.20%

Not enough data

1 years with return on file

Admin fee / account holder

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

$11100

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 codes2E2F2G2J2T3D3H

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$4.3M

$41666 / participant

Other / not subdivided$4M100.0%

% of EOY assets

38.822%

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

$118,744

$76,696+54.8%

$96,538+23.0%

$71,529+66.0%

Participation rate

67.3%

66.6%+0.7pp

74.3%-7.0pp

67.9%-0.6pp

Annual return

12.49%

48.32%-35.8pp

35.74%-23.2pp

28.97%-16.5pp

Employer contribution / active EE

$2,736

$3,032-9.7%

$3,740-26.8%

$2,590+5.6%

Participant deferral / active EE

$5,129

$3,770+36.0%

$4,880+5.1%

$4,291+19.5%

Admin fee / account holder

$46,099

$2,030+2171.0%

$6,737+584.2%

$1,588+2802.0%

FRED OLIVIERI CONSTRUCTION COMPANY 401(K) & PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FRED OLIVIERI CONSTRUCTION COMPANY 401(K) & PROFIT SHARING 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