Retirement plan

BITBEAN, LLC 401(K) PLAN

Name: BITBEAN, LLC - BITBEAN, LLC 401(K) PLAN (2024) Form 5500
Creator: BITBEAN, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BITBEAN, LLC 401(K) PLAN, BITBEAN, LLC

BITBEAN, LLCEIN 45-2645649Plan #001PY 2024

1776 AVENUE OF THE STATES - LAKEWOOD, NJ 08701732-806-1125bitbean.comLinkedIn51-200 employeescomputer software

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$920K

+110.5% from 2023

Total participants

-2.5% from 2023

Average account balance

$28,740

+104.0% from 2023

Annual return

41.80%

+1.44 pp from 2023

Benchmarks

See 28,877 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,877 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$920K

Not enough data

1 years with asset history on file

Average account balance

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

$29K

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.

94.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$312K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+41.80%

Not enough data

1 years with return on file

Admin fee / account holder

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

$562

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 codes2E2J2F2G3D3H

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.
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

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

$18K

$529 / participant

Other / not subdivided$18K100.0%

% of EOY assets

1.955%

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

$28,740

$102,429-71.9%

$147,096-80.5%

$80,925-64.5%

Participation rate

79.4%

75.9%+3.6pp

82.2%-2.8pp

67.7%+11.8pp

Annual return

41.80%

135.02%-93.2pp

419.75%-378.0pp

35.65%+6.1pp

Employer contribution / active EE

$3,062

$3,716-17.6%

$4,936-38.0%

$2,756+11.1%

Participant deferral / active EE

$6,127

$6,649-7.8%

$8,071-24.1%

$4,299+42.5%

Admin fee / account holder

$562

$7,957-92.9%

$13,005-95.7%

$6,940-91.9%

BITBEAN, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BITBEAN, LLC 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