Retirement plan

RAINBOW MOTOR SALES, LLC 401(K) PLAN AND TRUST

Name: RAINBOW MOTOR SALES, LLC - RAINBOW MOTOR SALES, LLC 401(K) PLAN AND TRUST (2023) Form 5500
Creator: RAINBOW MOTOR SALES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RAINBOW MOTOR SALES, LLC 401(K) PLAN AND TRUST, RAINBOW MOTOR SALES, LLC

RAINBOW MOTOR SALES, LLCEIN 38-3582035Plan #004PY 2023

395 N. FREMONT RD - COLDWATER, MI 49036517-279-7616rainbowmotorsales.comLinkedIn1-10 employeesautomotive

Other plans on this EIN

2 filings

#002Retirement-$725K assets #003Retirement-$258K assets

Prospect flagsHigh feesLow assets / participant

How to read this page

Total assets (EOY)

$43K

+192.6% from 2022

Total participants

+11.1% from 2022

Average account balance

$5,345

+229.2% from 2022

Annual return

24.51%

+24.51 pp from 2022

Benchmarks

See 22,163 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort22,163 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$312K

Not enough data

1 years with asset history on file

Average account balance

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

$31K

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.

142.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$23K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+657.84%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3605

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 codes2E2G2J3D2F

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$5K

$497 / participant

Other / not subdivided$5K100.0%

% of EOY assets

11.624%

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

$5,345

$102,663-94.8%

$86,216-93.8%

$139,466-96.2%

Participation rate

80.0%

74.5%+5.5pp

69.0%+11.0pp

80.3%-0.3pp

Annual return

24.51%

1924.52%-1900.0pp

1169.42%-1144.9pp

373.66%-349.2pp

Employer contribution / active EE

$3,035-100.0%

$2,382-100.0%

$4,754-100.0%

Participant deferral / active EE

$2,872

$4,677-38.6%

$3,986-28.0%

$6,712-57.2%

Admin fee / account holder

$621

$8,663-92.8%

$6,853-90.9%

$11,409-94.6%

RAINBOW MOTOR SALES, LLC 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RAINBOW MOTOR SALES, LLC 401(K) PLAN AND 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