Retirement plan

COVELLI ENTERPRISES, INC. 401(K) PROFIT SHARING PLAN & TRUST

Name: COVELLI ENTERPRISES, INC. - COVELLI ENTERPRISES, INC. 401(K) PROFIT SHARING PLAN & TRUST (2024) Form 5500
Creator: COVELLI ENTERPRISES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, COVELLI ENTERPRISES, INC. 401(K) PROFIT SHARING PLAN & TRUST, COVELLI ENTERPRISES, INC.

COVELLI ENTERPRISES, INC.EIN 34-1724212Plan #001PY 2024

3900 E MARKET ST - WARREN, OH 444844632330-856-3176covelli.comLinkedIn10001+ employeesrestaurants

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$56.4M

+13.3% from 2023

Total participants

2,448

-14.9% from 2023

Average account balance

$23,897

+13.2% from 2023

Annual return

13.56%

-4.07 pp from 2023

Benchmarks

See 308 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort308 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$56.40M

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.

2,360

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.

95.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.84M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+13.56%

Not enough data

1 years with return on file

Admin fee / account holder

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

$123

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 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290	Contract Administrator	$291,121
EQUITABLE ADVISORS LLC1 year Filed as: EQUITABLE ADVISORS, LLC. Service code 49 · EIN 13-4071393	Other Services	$18,381
EQUITABLE ADVISORS LLC5 years Filed as: EQUITABLE NETWORK LLC Service code 49 · EIN 06-1555494	Other Services	$17,119
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381	Advisory (Participants)	$0
WILSHIRE ASSOCIATES INCORPORATED3 years Filed as: WILSHIRE ADVISORS LLC Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2G2J2K2S2T3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$291K

$153 / participant

Contract admin$291K100.0%

% of EOY assets

0.516%

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: HOBE & LUCAS, CPAS, INC.
Auditor EIN: 311488076
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$23,897

$31,741-24.7%

$56,033-57.4%

$199,960-88.0%

Participation rate

95.4%

32.3%+63.0pp

52.5%+42.9pp

72.0%+23.4pp

Annual return

13.56%

14.72%-1.2pp

1711.38%-1697.8pp

34.28%-20.7pp

Employer contribution / active EE

$1,131

$508+122.7%

$1,041+8.6%

$3,036-62.8%

Participant deferral / active EE

$1,936

$1,184+63.5%

$1,954-0.9%

$5,087-61.9%

Admin fee / account holder

$123

$426-71.1%

$2,827-95.6%

$269-54.2%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY10+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$291,121

EQUITABLE ADVISORS LLC1 year

Filed as: EQUITABLE ADVISORS, LLC.

Service code 49 · EIN 13-4071393

Other Services

$18,381

EQUITABLE ADVISORS LLC5 years

Filed as: EQUITABLE NETWORK LLC

Service code 49 · EIN 06-1555494

Other Services

$17,119

MORNINGSTAR1 year

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L

Service code 26 · EIN 36-4317381

Advisory (Participants)

WILSHIRE ASSOCIATES INCORPORATED3 years

Filed as: WILSHIRE ADVISORS LLC

Service code 27 · EIN 95-2755361

Advisory (Plan)

COVELLI ENTERPRISES, INC. 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

COVELLI ENTERPRISES, INC. 401(K) PROFIT SHARING PLAN & 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