Retirement plan

EAST COAST ASSET MANAGEMENT 401(K) PROFIT SHARING PLAN & TRUST

Name: EAST COAST ASSET MANAGEMENT - EAST COAST ASSET MANAGEMENT 401(K) PROFIT SHARING PLAN & TRUST (2024) Form 5500
Creator: EAST COAST ASSET MANAGEMENT
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EAST COAST ASSET MANAGEMENT 401(K) PROFIT SHARING PLAN & TRUST, EAST COAST ASSET MANAGEMENT

EAST COAST ASSET MANAGEMENTEIN 45-3363191Plan #001PY 2024

16 MARTIN ST - ESSEX, MA 019291256978-801-0863eastcoastasset.comLinkedIn1-10 employeesfinancial services

Prospect flagsHigh feesLow participationLow employer contributionLow fidelity bond

How to read this page

Total assets (EOY)

$1.3M

+25.4% from 2023

Total participants

+25.0% from 2023

Average account balance

$212,111

+4.5% from 2023

Annual return

18.38%

-2.22 pp from 2023

Benchmarks

See 49,870 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort49,870 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.27M

Not enough data

1 years with asset history on file

Average account balance

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

$212K

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.

66.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$72K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+18.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$689

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 codes2E2F2G2J2T3D

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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
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

4 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.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$4K

$459 / participant

Other / not subdivided$4K100.0%

% of EOY assets

0.325%

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

$212,111

$88,815+138.8%

$81,882+159.0%

$145,897+45.4%

Participation rate

55.6%

75.1%-19.5pp

72.4%-16.8pp

80.3%-24.8pp

Annual return

18.38%

1033.75%-1015.4pp

779.47%-761.1pp

552.29%-533.9pp

Employer contribution / active EE

$169

$3,086-94.5%

$2,916-94.2%

$4,663-96.4%

Participant deferral / active EE

$7,868

$4,647+69.3%

$4,323+82.0%

$6,689+17.6%

Admin fee / account holder

$689

$8,434-91.8%

$7,360-90.6%

$13,390-94.9%

EAST COAST ASSET MANAGEMENT 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EAST COAST ASSET MANAGEMENT 401(K) PROFIT SHARING PLAN & 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