Retirement plan

CHARMS EMPLOYEES RETIREMENT AND SAVINGS PLAN

Name: CHARMS LLC - CHARMS EMPLOYEES RETIREMENT AND SAVINGS PLAN (2023) Form 5500
Creator: CHARMS LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHARMS EMPLOYEES RETIREMENT AND SAVINGS PLAN, CHARMS LLC

CHARMS LLCEIN 36-4119865Plan #005PY 2023

7401 S. CICERO AVENUE - CHICAGO, IL 60629773-838-3470LinkedIn1-10 employees

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$34M

+12.0% from 2022

Total participants

534

+11.3% from 2022

Average account balance

$66,335

-2.0% from 2022

Annual return

10.69%

+18.66 pp from 2022

Benchmarks

See 755 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort755 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$35.62M

Not enough data

1 years with asset history on file

Average account balance

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

$71K

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.

503

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.

99.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.86M

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

+10.40%

Not enough data

1 years with return on file

Admin fee / account holder

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

$35

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 2 by compensation

Provider	Service type	Compensation
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANAGEMENT Service code 26 · EIN 36-4317381	Advisory (Participants)	$5,071
VOYA RETIREMENT INSURANCE & ANNUITY9+ years Service code 26 · EIN 71-0294708	Advisory (Participants)	$1,568

Plan features & details

Pension benefit codes2E2F2G2J3D

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.

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

$7K

$14 / participant

Investment mgmt$6K91.7%
Other / not subdivided$5508.3%

% of EOY assets

0.020%

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: SASSETTI LLC
Auditor EIN: 362239746
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$66,335

$69,823-5.0%

$76,872-13.7%

$74,460-10.9%

Participation rate

95.2%

70.0%+25.2pp

69.6%+25.6pp

70.7%+24.5pp

Annual return

10.69%

19.99%-9.3pp

37.90%-27.2pp

34.38%-23.7pp

Employer contribution / active EE

$3,045

$2,148+41.8%

$2,533+20.2%

$2,638+15.4%

Participant deferral / active EE

$2,948

$3,558-17.1%

$3,832-23.1%

$4,530-34.9%

Admin fee / account holder

$13

$398-96.7%

$5,476-99.8%

$348-96.3%

Provider

Service type

Compensation

MORNINGSTAR1 year

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT

Service code 26 · EIN 36-4317381

Advisory (Participants)

$5,071

VOYA RETIREMENT INSURANCE & ANNUITY9+ years

Service code 26 · EIN 71-0294708

Advisory (Participants)

$1,568

CHARMS EMPLOYEES RETIREMENT AND SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHARMS EMPLOYEES RETIREMENT AND SAVINGS 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