Retirement plan

CRDN 401(K) PLAN

Name: CERTIFIED RESTORATION DRYCLEANING NETWORK, LLC - CRDN 401(K) PLAN (2020) Form 5500
Creator: CERTIFIED RESTORATION DRYCLEANING NETWORK, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CRDN 401(K) PLAN, CERTIFIED RESTORATION DRYCLEANING NETWORK, LLC

CERTIFIED RESTORATION DRYCLEANING NETWORK, LLCEIN 38-3606975Plan #001PY 2020

2060 COOLIDGE HWY - BERKLEY, MI 480721546248-541-6038LinkedIn201-500 employeestelecommunications

Prospect flagsLow participationLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$3.6M

+31.4% from 2019

Total participants

202

-10.6% from 2019

Average account balance

$41,290

+25.2% from 2019

Annual return

25.68%

+4.72 pp from 2019

Benchmarks

See 1,687 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort1,687 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.67M

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.

182

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.

68.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$753K

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

+16.36%

Not enough data

1 years with return on file

Admin fee / account holder

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

$240

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
ALERUS FINANCIAL, N.A.6+ years Service code 15 · EIN 45-6062081	Recordkeeping	$11,613
AXA EQUITABLE LIFE INSURANCE CO4 years Filed as: AXA ADVISORS Service code 26 3141 FAIRVIEW PARK DR, SUITE 250 · FALLS CHURCH, VA 22042	Advisory (Participants)	$11,281

Plan features & details

Pension benefit codes2E2F2G2J2K3D3H

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.
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 employer contribution
Employer contribution per participant 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

$23K

$124 / participant

Investment mgmt$11K49.3%
Contract admin$12K50.7%

% of EOY assets

0.645%

all-in expense ratio

Categories reported

2 / 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: YEO & YEO, P.C.
Auditor EIN: 382706146
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$41,290

$66,124-37.6%

$90,461-54.4%

$73,497-43.8%

Participation rate

37.0%

69.7%-32.7pp

72.7%-35.7pp

70.7%-33.7pp

Annual return

25.68%

17.65%+8.0pp

1294.76%-1269.1pp

28.51%-2.8pp

Employer contribution / active EE

$209

$2,346-91.1%

$3,264-93.6%

$2,270-90.8%

Participant deferral / active EE

$1,776

$3,039-41.6%

$3,964-55.2%

$3,740-52.5%

Admin fee / account holder

$266

$396-32.8%

$5,617-95.3%

$513-48.1%

Provider

Service type

Compensation

ALERUS FINANCIAL, N.A.6+ years

Service code 15 · EIN 45-6062081

Recordkeeping

$11,613

AXA EQUITABLE LIFE INSURANCE CO4 years

Filed as: AXA ADVISORS

Service code 26

3141 FAIRVIEW PARK DR, SUITE 250 · FALLS CHURCH, VA 22042

Advisory (Participants)

$11,281

CRDN 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CRDN 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