Retirement plan

RON MARHOFER AUTO FAMILY 401(K) PLAN

Name: MARHOFER CHEVROLET INC. - RON MARHOFER AUTO FAMILY 401(K) PLAN (2024) Form 5500
Creator: MARHOFER CHEVROLET INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RON MARHOFER AUTO FAMILY 401(K) PLAN, MARHOFER CHEVROLET INC.

MARHOFER CHEVROLET INC.EIN 34-1159646Plan #001PY 2024

3423 DARROW RD - STOW, OH 44224330-923-0834firelandscdjr.comLinkedIn11-50 employeesautomotive

Prospect flagsLow assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$9.1M

+8.2% from 2023

Total participants

435

+17.9% from 2023

Average account balance

$24,047

-8.4% from 2023

Annual return

13.38%

-2.57 pp from 2023

Benchmarks

See 1,307 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,307 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.07M

Not enough data

1 years with asset history on file

Average account balance

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

$24K

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.

377

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.

80.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.07M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+13.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$299

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 1 by compensation

Provider	Service type	Compensation
ALERUS FINANCIAL, N.A.1 year Service code 15 · EIN 45-6062081	Recordkeeping	$135

Plan features & details

Pension benefit codes2E2F2G2J3D3H

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.
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

2 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$113K

$386 / participant

Investment mgmt$113K100.0%

% of EOY assets

1.244%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FORVIS MAZARS, LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$24,047

$54,213-55.6%

$93,696-74.3%

$77,736-69.1%

Participation rate

80.1%

64.0%+16.2pp

68.7%+11.4pp

70.6%+9.6pp

Annual return

13.38%

30.55%-17.2pp

133.74%-120.4pp

31.26%-17.9pp

Employer contribution / active EE

$529

$1,168-54.7%

$2,422-78.2%

$2,728-80.6%

Participant deferral / active EE

$3,139

$3,145-0.2%

$4,417-28.9%

$4,651-32.5%

Admin fee / account holder

$299

$575-48.0%

$8,287-96.4%

$433-31.0%

Provider

Service type

Compensation

ALERUS FINANCIAL, N.A.1 year

Service code 15 · EIN 45-6062081

Recordkeeping

$135

RON MARHOFER AUTO FAMILY 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RON MARHOFER AUTO FAMILY 401(K) 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