Retirement plan

JARAS FINANCIAL SERVICES, INC. 401(K) RETIREMENT PLAN

Name: JARAS FINANCIAL SERVICES, INC. - JARAS FINANCIAL SERVICES, INC. 401(K) RETIREMENT PLAN (2022) Form 5500
Creator: JARAS FINANCIAL SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, JARAS FINANCIAL SERVICES, INC. 401(K) RETIREMENT PLAN, JARAS FINANCIAL SERVICES, INC.

JARAS FINANCIAL SERVICES, INC.EIN 34-1699018Plan #001PY 2022

2859 BOSTON MILLS RD. - BRECKSVILLE, OH 44141330-659-3773jarasfinancial.comLinkedIn1-10 employeesfinancial services

Prospect flagsHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$2.8M

-2.6% from 2021

Total participants

0.0% from 2021

Average account balance

$916,852

-2.6% from 2021

Annual return

-5.09%

-14.25 pp from 2021

Benchmarks

See 133,872 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort133,872 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.94M

Not enough data

1 years with asset history on file

Average account balance

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

$1.3M

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$78K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$26K

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

+22.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2E2J3B3D3H2F2T

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).
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

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

$916,852

$138,102+563.9%

$125,381+631.3%

$134,532+581.5%

Participation rate

100.0%

84.5%+15.5pp

82.4%+17.6pp

81.2%+18.8pp

Annual return

-5.09%

750.73%-755.8pp

572.31%-577.4pp

418.27%-423.4pp

Employer contribution / active EE

$5,076

$5,245-3.2%

$4,815+5.4%

$4,741+7.1%

Participant deferral / active EE

$18,529

$7,801+137.5%

$7,448+148.8%

$6,401+189.5%

Admin fee / account holder

$11,568-100.0%

$10,007-100.0%

$11,429-100.0%

JARAS FINANCIAL SERVICES, INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

JARAS FINANCIAL SERVICES, INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion