Retirement plan

THE FARBER COMPANIES 401(K) PROFIT SHARING PLAN

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

FARBER SPECIALTY VEHICLES, INC.EIN 41-2043544Plan #001PY 2020

7052 AMERICANA PARKWAY - REYNOLDSBURG, OH 43068614-863-6470fsvcc.comLinkedIn51-200 employeesautomotive

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$13.2M

+17.4% from 2019

Total participants

146

+2.1% from 2019

Average account balance

$90,560

+14.2% from 2019

Annual return

13.61%

-9.24 pp from 2019

Benchmarks

See 2,198 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,198 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.18M

Not enough data

1 years with asset history on file

Average account balance

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

$90K

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.

169

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

$712K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+11.26%

Not enough data

1 years with return on file

Admin fee / account holder

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

$564

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 3 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS5 years Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN Service code 15 · EIN 36-6071399	Recordkeeping	$44,728
MERRILL LYNCH PIERCE FENNER & SMITH4 years Filed as: MERRILL LYNCH Service code 27 · EIN 13-2808480	Advisory (Plan)	$31,657
KM WAIWOOD LLC3 years Service code 15 · EIN 27-3314579 P O BOX 361790 · STRONGSVILLE, OH 44136	Recordkeeping	$965

Plan features & details

Pension benefit codes2E2F2G2J2K3D3F

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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

1 tripped

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

$77K

$667 / participant

Investment mgmt$76K98.6%
Other / not subdivided$1K1.4%

% of EOY assets

0.585%

all-in expense ratio

Categories reported

1 / 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: SCHNEIDER, LINK & COMPANY LLP
Auditor EIN: 311371069
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$90,560

$54,573+65.9%

$90,970-0.5%

$73,497+23.2%

Participation rate

100.0%

61.2%+38.8pp

69.0%+31.0pp

70.7%+29.3pp

Annual return

13.61%

16.69%-3.1pp

134.60%-121.0pp

28.51%-14.9pp

Employer contribution / active EE

$3,770

$991+280.2%

$2,122+77.7%

$2,270+66.1%

Participant deferral / active EE

$3,101

$2,517+23.2%

$3,373-8.1%

$3,740-17.1%

Admin fee / account holder

$530

$521+1.6%

$5,961-91.1%

$513+3.3%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS5 years

Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN

Service code 15 · EIN 36-6071399

Recordkeeping

$44,728

MERRILL LYNCH PIERCE FENNER & SMITH4 years

Filed as: MERRILL LYNCH

Service code 27 · EIN 13-2808480

Advisory (Plan)

$31,657

KM WAIWOOD LLC3 years

Service code 15 · EIN 27-3314579

P O BOX 361790 · STRONGSVILLE, OH 44136

Recordkeeping

$965

THE FARBER COMPANIES 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE FARBER COMPANIES 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