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 (2019) 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 2019

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

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$11M

+15.8% from 2018

Total participants

300

+26.1% from 2018

Average account balance

$47,935

+0.1% from 2018

Annual return

16.30%

+20.47 pp from 2018

Benchmarks

See 4,276 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,276 peers

Snapshot2019

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
NATIONWIDE5+ years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$57,419
MGO INVESTMENT ADVISORS5+ years Service code 26 24400 CHAGRIN BLVD · BEACHWOOD, OH 44122	Advisory (Participants)	$22,192
MOSKAL GROSS ORCHOSKY5+ years Filed as: MOSKAL GROSS ORCHOSKY INC Service code 15 24400 CHAGRIN BLVD · BEACHWOOD, OH 44122	Recordkeeping	$20,554
MOSKAL GROSS ORCHOSKY5+ years Service code 15	Recordkeeping	$4,161

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

$44K

$179 / participant

Other / not subdivided$44K100.0%

% of EOY assets

0.401%

all-in expense ratio

Categories reported

0 / 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: POOLER CPA GROUP, LLC
Auditor EIN: 824354021
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$47,935

$65,378-26.7%

$87,103-45.0%

$65,186-26.5%

Participation rate

71.1%

75.3%-4.2pp

76.9%-5.7pp

70.2%+0.9pp

Annual return

16.30%

31.28%-15.0pp

28.19%-11.9pp

29.39%-13.1pp

Employer contribution / active EE

$723

$1,823-60.3%

$2,521-71.3%

$2,177-66.8%

Participant deferral / active EE

$2,265

$3,389-33.2%

$4,049-44.1%

$3,514-35.6%

Admin fee / account holder

$192

$520-63.0%

$7,491-97.4%

$847-77.3%

Provider

Service type

Compensation

NATIONWIDE5+ years

Service code 15

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$57,419

MGO INVESTMENT ADVISORS5+ years

Service code 26

24400 CHAGRIN BLVD · BEACHWOOD, OH 44122

Advisory (Participants)

$22,192

MOSKAL GROSS ORCHOSKY5+ years

Filed as: MOSKAL GROSS ORCHOSKY INC

Service code 15

24400 CHAGRIN BLVD · BEACHWOOD, OH 44122

Recordkeeping

$20,554

MOSKAL GROSS ORCHOSKY5+ years

Service code 15

Recordkeeping

$4,161

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