Retirement plan

THE LIFT GARAGE 403(B) PLAN

Name: THE LIFT GARAGE - THE LIFT GARAGE 403(B) PLAN (2018) Form 5500
Creator: THE LIFT GARAGE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE LIFT GARAGE 403(B) PLAN, THE LIFT GARAGE

THE LIFT GARAGEEIN 45-4444338Plan #001PY 2018

P.O. BOX 6992 - MINNEAPOLIS, MN 55406612-866-5840theliftgarage.orgLinkedIn11-50 employeesautomotive

Prospect flagsHigh feesLow assets / participant

How to read this page

Total assets (EOY)

$25K

No prior year

Total participants

No prior year

Average account balance

$2,760

No prior year

Annual return

0.00%

No prior year

Benchmarks

See 33,726 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort33,726 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$669K

Not enough data

1 years with asset history on file

Average account balance

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

$30K

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.

122.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$85K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+15.32%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1317

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 codes2E2M2T2F2G

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.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$5K

$666 / participant

Other / not subdivided$5K100.0%

% of EOY assets

21.431%

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

$2,760

$90,607-97.0%

$79,467-96.5%

$135,380-98.0%

Participation rate

100.0%

76.0%+24.0pp

73.3%+26.7pp

82.6%+17.4pp

Annual return

0.00%

977.74%-977.7pp

718.30%-718.3pp

519.81%-519.8pp

Employer contribution / active EE

$1,462

$3,068-52.4%

$2,800-47.8%

$4,779-69.4%

Participant deferral / active EE

$2,246

$4,050-44.5%

$3,704-39.4%

$5,609-60.0%

Admin fee / account holder

$592

$5,895-90.0%

$5,104-88.4%

$10,828-94.5%

THE LIFT GARAGE 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE LIFT GARAGE 403(B) 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