Retirement plan

COVERT MANUFACTURING, INC. EMPLOYEES 401K PROFIT SHARING PLAN AND TRUST

Name: COVERT MANUFACTURING, INC. - COVERT MANUFACTURING, INC. EMPLOYEES 401K PROFIT SHARING PLAN AND TRUST (2016) Form 5500
Creator: COVERT MANUFACTURING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, COVERT MANUFACTURING, INC. EMPLOYEES 401K PROFIT SHARING PLAN AND TRUST, COVERT MANUFACTURING, INC.

COVERT MANUFACTURING, INC.EIN 34-1059703Plan #002PY 2016

P.O. BOX 608 - GALION, OH 44833419-468-1761covertmfg.comLinkedIn51-200 employeesautomotive

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$9.1M

+5.4% from 2015

Total participants

231

-16.9% from 2015

Average account balance

$43,235

+31.0% from 2015

Annual return

7.07%

+7.31 pp from 2015

Benchmarks

See 4,221 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,221 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.08M

Not enough data

1 years with asset history on file

Average account balance

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

$55K

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.

148

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.

48.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$515K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+11.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$202

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
NATIONWIDE2+ years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$28,952
MOSKAL GROSS ORCHOSKY2+ years Filed as: MOSKAL GROSS ORCHOSKY INC Service code 15 24400 CHAGRIN BLVD · BEACHWOOD, OH 44122	Recordkeeping	$16,203
MGO INVESTMENT ADVISORS2+ years Service code 26 24400 CHAGRIN BLVD · BEACHWOOD, OH 44122	Advisory (Participants)	$15,217
MOSKAL GROSS ORCHOSKY2+ years Service code 26	Advisory (Participants)	$13,251

Plan features & details

Pension benefit codes2E2F2G2J2T

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.

Opportunity flags

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$34K

$168 / participant

Investment mgmt$19K55.2%
Contract admin$15K44.8%

% of EOY assets

0.374%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: RIESTER LUMP & BURTON CPAS INC.
Auditor EIN: 341323620
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$43,235

$60,165-28.1%

$74,184-41.7%

$55,167-21.6%

Participation rate

89.6%

74.2%+15.5pp

76.6%+13.0pp

69.0%+20.6pp

Annual return

7.07%

10.00%-2.9pp

17.74%-10.7pp

169.23%-162.2pp

Employer contribution / active EE

$708

$1,600-55.8%

$2,370-70.1%

$1,963-63.9%

Participant deferral / active EE

$2,098

$2,973-29.4%

$3,550-40.9%

$3,054-31.3%

Admin fee / account holder

$162

$419-61.4%

$5,586-97.1%

$504-67.9%

Provider

Service type

Compensation

NATIONWIDE2+ years

Service code 15

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$28,952

MOSKAL GROSS ORCHOSKY2+ years

Filed as: MOSKAL GROSS ORCHOSKY INC

Service code 15

24400 CHAGRIN BLVD · BEACHWOOD, OH 44122

Recordkeeping

$16,203

MGO INVESTMENT ADVISORS2+ years

Service code 26

24400 CHAGRIN BLVD · BEACHWOOD, OH 44122

Advisory (Participants)

$15,217

MOSKAL GROSS ORCHOSKY2+ years

Service code 26

Advisory (Participants)

$13,251

COVERT MANUFACTURING, INC. EMPLOYEES 401K PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

COVERT MANUFACTURING, INC. EMPLOYEES 401K PROFIT SHARING PLAN AND 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