Retirement plan

THE FARBER COMPANIES 401(K) PROFIT SHARING PLAN

Name: FARBER SPECIALTY VEHICLES, INC. - THE FARBER COMPANIES 401(K) PROFIT SHARING PLAN (2023) 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 2023

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

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$15.3M

+10.1% from 2022

Total participants

146

-6.4% from 2022

Average account balance

$107,013

+20.1% from 2022

Annual return

14.84%

+29.77 pp from 2022

Benchmarks

See 2,283 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,283 peers

Snapshot2023

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 2 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS1 year Filed as: TRANSAMERICA FINANCIAL LIFE INS CO Service code 15 · EIN 36-6071399	Recordkeeping	$39,867
MERRILL LYNCH PIERCE FENNER & SMITH9+ years Filed as: MERRILL LYNCH LIFE AGENCY, INC. Service code 27 · EIN 13-2808480	Advisory (Plan)	$28,908

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

$97K

$806 / participant

Recordkeeping$97K100.0%

% of EOY assets

0.632%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: DG PERRY, PLLC
Auditor EIN: 833033790
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$107,013

$54,729+95.5%

$86,235+24.1%

$71,529+49.6%

Participation rate

97.5%

60.1%+37.4pp

69.0%+28.5pp

67.9%+29.6pp

Annual return

14.84%

20.07%-5.2pp

1170.03%-1155.2pp

28.97%-14.1pp

Employer contribution / active EE

$2,895

$1,267+128.5%

$2,381+21.6%

$2,590+11.8%

Participant deferral / active EE

$3,684

$3,110+18.4%

$3,987-7.6%

$4,291-14.1%

Admin fee / account holder

$677

$1,921-64.8%

$6,856-90.1%

$1,588-57.4%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS1 year

Filed as: TRANSAMERICA FINANCIAL LIFE INS CO

Service code 15 · EIN 36-6071399

Recordkeeping

$39,867

MERRILL LYNCH PIERCE FENNER & SMITH9+ years

Filed as: MERRILL LYNCH LIFE AGENCY, INC.

Service code 27 · EIN 13-2808480

Advisory (Plan)

$28,908

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