Retirement plan

CLIFT, INC 401(K) PROFIT SHARING PLAN

Name: CLIFT, INC. - CLIFT, INC 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: CLIFT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CLIFT, INC 401(K) PROFIT SHARING PLAN, CLIFT, INC.

CLIFT, INC.EIN 38-2293896Plan #001PY 2020

1115 S MAIN ST - ADRIAN, MI 492214303517-265-6107

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$5M

+13.1% from 2019

Total participants

-6.0% from 2019

Average account balance

$79,900

+20.3% from 2019

Annual return

11.87%

-6.38 pp from 2019

Benchmarks

See 9,302 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants25-99

Cohort9,302 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.70M

Not enough data

1 years with asset history on file

Average account balance

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

$80K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$293K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+12.82%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1108

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

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2G2H2J

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.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$156K

$2474 / participant

Other / not subdivided$156K100.0%

% of EOY assets

3.096%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$79,900

$65,041+22.8%

$90,965-12.2%

$79,858+0.1%

Participation rate

100.0%

61.6%+38.4pp

69.0%+31.0pp

69.6%+30.4pp

Annual return

11.87%

30.45%-18.6pp

134.57%-122.7pp

31.72%-19.8pp

Employer contribution / active EE

$795

$1,247-36.2%

$2,122-62.5%

$2,471-67.8%

Participant deferral / active EE

$2,129

$2,512-15.2%

$3,373-36.9%

$3,740-43.1%

Admin fee / account holder

$2,474

$4,536-45.5%

$5,960-58.5%

$5,306-53.4%

CLIFT, INC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CLIFT, INC 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