Retirement plan

CHARITY MOTORS, INC. 401(K) PROFIT SHARING PLAN & TRUST

Name: CHARITY MOTORS, INC. - CHARITY MOTORS, INC. 401(K) PROFIT SHARING PLAN & TRUST (2018) Form 5500
Creator: CHARITY MOTORS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHARITY MOTORS, INC. 401(K) PROFIT SHARING PLAN & TRUST, CHARITY MOTORS, INC.

CHARITY MOTORS, INC.EIN 38-3251827Plan #001PY 2018

10431 GRAND RIVER AVE. - DETROIT, MI 48204313-933-4000charitymotors.orgLinkedIn11-50 employeesautomotive

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$135K

-14.8% from 2017

Total participants

+5.9% from 2017

Average account balance

$15,037

-5.3% from 2017

Annual return

-6.08%

-18.06 pp from 2017

Benchmarks

See 33,731 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort33,731 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$71K

Not enough data

1 years with asset history on file

Average account balance

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

$5K

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.

214.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$319

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

+8.75%

Not enough data

1 years with return on file

Admin fee / account holder

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

$171

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 codes2E2F2G2J2T3D

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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$29K

$1930 / participant

Other / not subdivided$29K100.0%

% of EOY assets

21.395%

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

$15,037

$90,617-83.4%

$79,476-81.1%

$135,382-88.9%

Participation rate

40.0%

76.1%-36.1pp

73.3%-33.3pp

82.6%-42.6pp

Annual return

-6.08%

977.57%-983.6pp

718.21%-724.3pp

519.77%-525.8pp

Employer contribution / active EE

$3,068-100.0%

$2,800-100.0%

$4,779-100.0%

Participant deferral / active EE

$814

$4,050-79.9%

$3,704-78.0%

$5,609-85.5%

Admin fee / account holder

$3,217

$5,907-45.5%

$5,113-37.1%

$10,829-70.3%

CHARITY MOTORS, INC. 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHARITY MOTORS, INC. 401(K) PROFIT SHARING PLAN & TRUST

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