Retirement plan

BREDEMANN CHEVROLET, INC. AND BREDEMANN TOYOTA, INC. 401(K) RETIREMENT PLAN

Name: FIRST FAMILY, INC. DBA BREDEMANN CHEVROLET, INC - BREDEMANN CHEVROLET, INC. AND BREDEMANN TOYOTA, INC. 401(K) RETIREMENT PLAN (2022) Form 5500
Creator: FIRST FAMILY, INC. DBA BREDEMANN CHEVROLET, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BREDEMANN CHEVROLET, INC. AND BREDEMANN TOYOTA, INC. 401(K) RETIREMENT PLAN, FIRST FAMILY, INC. DBA BREDEMANN CHEVROLET, INC

FIRST FAMILY, INC. DBA BREDEMANN CHEVROLET, INCEIN 36-0859750Plan #003PY 2022

1401 DEMPSTER STREET - PARKRIDGE, IL 60068847-998-4000

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$8M

-21.5% from 2021

Total participants

104

-10.3% from 2021

Average account balance

$88,022

-15.5% from 2021

Annual return

-17.73%

-33.19 pp from 2021

Benchmarks

See 9,445 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants25-99

Cohort9,445 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.01M

Not enough data

1 years with asset history on file

Average account balance

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

$121K

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.

108.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$546K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+16.12%

Not enough data

1 years with return on file

Admin fee / account holder

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

$9107

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

Top 4 by compensation

Provider	Service type	Compensation
NATIONWIDE8+ years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$42,156
IRON-CO-FID-COMPREHENSIVE8+ years Filed as: IRON ADMINISTRATION, LLC Service code 17 660 DUNDEE ROAD · NORTHBROOK, IL 60062	Pension Consulting	$6,179
EQUITY SERVICES INC1 year Filed as: EQUITY SERVICES, INC. Service code 99 ONE NATIONAL LIFE DRIVE · MONTPELIER, VT 05604	Other Fees	$0
ESI3 years Filed as: ESI FINANCIAL ADVISORS Service code 49 ONE NATIONAL LIFE DRIVE · MONTPELIER, VT 05604	Other Services	$0

Plan features & details

Pension benefit codes2E2F2G2J2K3D3H

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.
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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$52K

$664 / participant

Contract admin$52K100.0%

% of EOY assets

0.655%

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: SMITH & HOWARD, PC
Auditor EIN: 581250486
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$88,022

$59,813+47.2%

$79,580+10.6%

$68,486+28.5%

Participation rate

83.5%

61.1%+22.5pp

69.5%+14.1pp

67.9%+15.7pp

Annual return

-17.73%

-12.30%-5.4pp

0.15%-17.9pp

-7.85%-9.9pp

Employer contribution / active EE

$685

$1,505-54.5%

$2,413-71.6%

$2,597-73.6%

Participant deferral / active EE

$5,275

$3,024+74.4%

$3,985+32.4%

$4,028+31.0%

Admin fee / account holder

$576

$4,835-88.1%

$6,835-91.6%

$5,404-89.3%

Provider

Service type

Compensation

NATIONWIDE8+ years

Service code 15

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$42,156

IRON-CO-FID-COMPREHENSIVE8+ years

Filed as: IRON ADMINISTRATION, LLC

Service code 17

660 DUNDEE ROAD · NORTHBROOK, IL 60062

Pension Consulting

$6,179

EQUITY SERVICES INC1 year

Filed as: EQUITY SERVICES, INC.

Service code 99

ONE NATIONAL LIFE DRIVE · MONTPELIER, VT 05604

Other Fees

ESI3 years

Filed as: ESI FINANCIAL ADVISORS

Service code 49

ONE NATIONAL LIFE DRIVE · MONTPELIER, VT 05604

Other Services

BREDEMANN CHEVROLET, INC. AND BREDEMANN TOYOTA, INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BREDEMANN CHEVROLET, INC. AND BREDEMANN TOYOTA, INC. 401(K) RETIREMENT 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