Retirement plan

CLIENT FINANCIAL SERVICES OF MICHIGAN LLC 401(K) PROFIT SHARING PLAN

Name: CLIENT FINANCIAL SERVICES OF MICHIGAN, LLC - CLIENT FINANCIAL SERVICES OF MICHIGAN LLC 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: CLIENT FINANCIAL SERVICES OF MICHIGAN, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CLIENT FINANCIAL SERVICES OF MICHIGAN LLC 401(K) PROFIT SHARING PLAN, CLIENT FINANCIAL SERVICES OF MICHIGAN, LLC

CLIENT FINANCIAL SERVICES OF MICHIGAN, LLCEIN 37-1517313Plan #001PY 2024

209 ALLOY DRIVE - FENTON, MI 48430888-232-1000cfsmi.comLinkedIn51-200 employeesfinancial services

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$2.1M

+20.1% from 2023

Total participants

128

-7.2% from 2023

Average account balance

$20,238

+31.4% from 2023

Annual return

13.08%

-5.52 pp from 2023

Benchmarks

See 1,422 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants100-249

Cohort1,422 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.15M

Not enough data

1 years with asset history on file

Average account balance

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

$20K

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.

106

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.

81.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$210K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+13.08%

Not enough data

1 years with return on file

Admin fee / account holder

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

$19

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
THE BENEFIT ADVANTAGE, INC.10+ years Filed as: THE BENEFIT ADVANTAGE INC Service code 13 3497 AUBURN ROAD · AUBURN HILLS, MI 48326	Contract Administrator	$2,510
AMERICAN FUNDS6 years Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI Service code 64 6455 IRVINE CENTER DRIVE · IRVINE, CA 92618	Recordkeeping Fees	$1,313

Plan features & details

Pension benefit codes2E2F2G2J2K3D2T

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.
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.

Opportunity flags

0 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$2K

$17 / participant

Contract admin$2K100.0%

% of EOY assets

0.092%

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: LEWIS & KNOPF CPAS PC
Auditor EIN: 383205662
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$20,238

$45,043-55.1%

$85,063-76.2%

$74,400-72.8%

Participation rate

81.4%

49.4%+32.0pp

67.5%+13.9pp

67.2%+14.1pp

Annual return

13.08%

26.26%-13.2pp

66.54%-53.5pp

1367.51%-1354.4pp

Employer contribution / active EE

$1,458-100.0%

$2,727-100.0%

$2,624-100.0%

Participant deferral / active EE

$1,782

$2,733-34.8%

$4,523-60.6%

$4,348-59.0%

Admin fee / account holder

$19

$2,210-99.2%

$6,155-99.7%

$1,944-99.0%

Provider

Service type

Compensation

THE BENEFIT ADVANTAGE, INC.10+ years

Filed as: THE BENEFIT ADVANTAGE INC

Service code 13

3497 AUBURN ROAD · AUBURN HILLS, MI 48326

Contract Administrator

$2,510

AMERICAN FUNDS6 years

Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI

Service code 64

6455 IRVINE CENTER DRIVE · IRVINE, CA 92618

Recordkeeping Fees

$1,313

CLIENT FINANCIAL SERVICES OF MICHIGAN LLC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CLIENT FINANCIAL SERVICES OF MICHIGAN LLC 401(K) PROFIT SHARING 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