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 (2017) 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 2017

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

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$9.8M

+8.1% from 2016

Total participants

218

-5.6% from 2016

Average account balance

$51,382

+18.8% from 2016

Annual return

11.69%

+4.62 pp from 2016

Benchmarks

See 4,147 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,147 peers

Snapshot2017

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
NATIONWIDE3+ years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$29,633
MGO INVESTMENT ADVISORS3+ years Service code 26 24400 CHAGRIN BLVD · BEACHWOOD, OH 44122	Advisory (Participants)	$18,057
MOSKAL GROSS ORCHOSKY3+ years Service code 26	Advisory (Participants)	$14,647
MOSKAL GROSS ORCHOSKY3+ years Filed as: MOSKAL GROSS ORCHOSKY INC Service code 15 24400 CHAGRIN BLVD · BEACHWOOD, OH 44122	Recordkeeping	$12,198

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

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$32K

$168 / participant

Investment mgmt$18K56.2%
Contract admin$14K43.8%

% of EOY assets

0.327%

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

$51,382

$64,909-20.8%

$82,312-37.6%

$62,293-17.5%

Participation rate

85.9%

74.9%+11.0pp

76.9%+9.0pp

69.5%+16.3pp

Annual return

11.69%

21.18%-9.5pp

25.88%-14.2pp

28.90%-17.2pp

Employer contribution / active EE

$807

$1,676-51.8%

$2,428-66.8%

$2,042-60.5%

Participant deferral / active EE

$2,241

$3,103-27.8%

$3,706-39.5%

$3,169-29.3%

Admin fee / account holder

$168

$440-61.7%

$5,608-97.0%

$479-64.9%

Provider

Service type

Compensation

NATIONWIDE3+ years

Service code 15

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$29,633

MGO INVESTMENT ADVISORS3+ years

Service code 26

24400 CHAGRIN BLVD · BEACHWOOD, OH 44122

Advisory (Participants)

$18,057

MOSKAL GROSS ORCHOSKY3+ years

Service code 26

Advisory (Participants)

$14,647

MOSKAL GROSS ORCHOSKY3+ years

Filed as: MOSKAL GROSS ORCHOSKY INC

Service code 15

24400 CHAGRIN BLVD · BEACHWOOD, OH 44122

Recordkeeping

$12,198

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