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 (2017) 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 2017

209 ALLOY DRIVE - FENTON, MI 48430888-899-8015cfsmi.comLinkedIn51-200 employeesfinancial services

Prospect flagsLow assets / participantRecently reached 100 employeesFailed to transmit contributions

How to read this page

Total assets (EOY)

$479K

+82.0% from 2016

Total participants

147

+24.6% from 2016

Average account balance

$4,477

+36.1% from 2016

Annual return

21.61%

+8.63 pp from 2016

Benchmarks

See 945 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants100-249

Cohort945 peers

Snapshot2017

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.3+ years Filed as: THE BENEFIT ADVANTAGE INC Service code 10 3497 AUBURN ROAD · AUBURN HILLS, MI 48326	Accounting	$795
AMERICAN FUNDS3+ years Filed as: CAPITAL RESEARCH AND MANAGEMENT CO Service code 15 333 S HOPE STREET · LOS ANGELES, CA 90071	Recordkeeping	$658

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

3 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$1K

$10 / participant

Other / not subdivided$1K100.0%

% of EOY assets

0.303%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$4,477

$36,767-87.8%

$81,473-94.5%

$62,293-92.8%

Participation rate

71.4%

54.4%+17.0pp

68.0%+3.5pp

69.5%+1.9pp

Annual return

21.61%

173.80%-152.2pp

38.78%-17.2pp

28.90%-7.3pp

Employer contribution / active EE

$286

$1,128-74.7%

$2,568-88.9%

$2,042-86.0%

Participant deferral / active EE

$1,058

$2,111-49.9%

$3,537-70.1%

$3,169-66.6%

Admin fee / account holder

$14

$797-98.3%

$4,561-99.7%

$479-97.2%

Provider

Service type

Compensation

THE BENEFIT ADVANTAGE, INC.3+ years

Filed as: THE BENEFIT ADVANTAGE INC

Service code 10

3497 AUBURN ROAD · AUBURN HILLS, MI 48326

Accounting

$795

AMERICAN FUNDS3+ years

Filed as: CAPITAL RESEARCH AND MANAGEMENT CO

Service code 15

333 S HOPE STREET · LOS ANGELES, CA 90071

Recordkeeping

$658

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