Retirement plan

CARAVAN FACILITIES MANAGEMENT UNION 401(K) PLAN

Name: CARAVAN FACILITIES MANAGEMENT L.L.C - CARAVAN FACILITIES MANAGEMENT UNION 401(K) PLAN (2023) Form 5500
Creator: CARAVAN FACILITIES MANAGEMENT L.L.C
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CARAVAN FACILITIES MANAGEMENT UNION 401(K) PLAN, CARAVAN FACILITIES MANAGEMENT L.L.C

CARAVAN FACILITIES MANAGEMENT L.L.CEIN 38-3376680Plan #002PY 2023

1400 WEISS STREET - SAGINAW, MI 48602989-399-0000caravanfm.comLinkedIn1001-5000 employeesfacilities services

Other plans on this EIN

1 filing

#001Retirement-$4.1M assets

Prospect flagsLow returnsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$5.5M

+9.6% from 2022

Total participants

721

-10.2% from 2022

Average account balance

$14,432

+29.8% from 2022

Annual return

14.28%

+29.04 pp from 2022

Benchmarks

See 822 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants250-999

Cohort822 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$6.15M

Not enough data

1 years with asset history on file

Average account balance

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

$17K

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.

372

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.

38.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$834K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+11.08%

Not enough data

1 years with return on file

Admin fee / account holder

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

$131

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
GREAT LAKES ADVISORS, LLC8 years Filed as: GREAT LAKES PENSION ASSOCIATE, INC. Service code 37 · EIN 38-2438760 37923 W. TWELVE MILE ROAD · FARMINGTON HILLS, MI 48331	Loan Processing	$26,228
AMERICAN FUNDS5 years Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI Service code 64 P.O. BOX 6040 · INDIANAPOLIS, IN 462066040	Recordkeeping Fees	$14,261
AMERICAN FUNDS5 years Filed as: CAPITAL BANK AND TRUST COMPANY Service code 21 6455 IRVINE CENTER DRIVE · IRVINE, CA 926184518	Bank Trustee	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$40K

$73 / participant

Recordkeeping$14K35.2%
Contract admin$26K64.8%

% of EOY assets

0.742%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: REHMAN ROBSON, LLC
Auditor EIN: 383635706
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$14,432

$40,385-64.3%

$80,569-82.1%

$74,419-80.6%

Participation rate

37.9%

47.4%-9.6pp

67.0%-29.1pp

70.7%-32.9pp

Annual return

14.28%

164.85%-150.6pp

935.43%-921.1pp

34.38%-20.1pp

Employer contribution / active EE

$319

$1,496-78.7%

$2,723-88.3%

$2,637-87.9%

Participant deferral / active EE

$864

$2,674-67.7%

$4,447-80.6%

$4,528-80.9%

Admin fee / account holder

$107

$720-85.1%

$5,377-98.0%

$348-69.2%

Provider

Service type

Compensation

GREAT LAKES ADVISORS, LLC8 years

Filed as: GREAT LAKES PENSION ASSOCIATE, INC.

Service code 37 · EIN 38-2438760

37923 W. TWELVE MILE ROAD · FARMINGTON HILLS, MI 48331

Loan Processing

$26,228

AMERICAN FUNDS5 years

Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI

Service code 64

P.O. BOX 6040 · INDIANAPOLIS, IN 462066040

Recordkeeping Fees

$14,261

AMERICAN FUNDS5 years

Filed as: CAPITAL BANK AND TRUST COMPANY

Service code 21

6455 IRVINE CENTER DRIVE · IRVINE, CA 926184518

Bank Trustee

CARAVAN FACILITIES MANAGEMENT UNION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CARAVAN FACILITIES MANAGEMENT UNION 401(K) 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