Retirement plan

CORRECT CRAFT HOLDING COMPANY RETIREMENT PLAN

Name: CORRECT CRAFT HOLDING COMPANY, LLC - CORRECT CRAFT HOLDING COMPANY RETIREMENT PLAN (2024) Form 5500
Creator: CORRECT CRAFT HOLDING COMPANY, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CORRECT CRAFT HOLDING COMPANY RETIREMENT PLAN, CORRECT CRAFT HOLDING COMPANY, LLC

CORRECT CRAFT HOLDING COMPANY, LLCEIN 46-0635077Plan #001PY 2024

14700 AEROSPACE PARKWAY - ORLANDO, FL 32832407-855-4141correctcraft.comLinkedIn1001-5000 employeesmaritime

Prospect flagsLow returnsLow assets / participantLow employer contribution

How to read this page

Total assets (EOY)

$49.8M

+10.4% from 2023

Total participants

1,730

-10.9% from 2023

Average account balance

$30,600

+23.4% from 2023

Annual return

10.13%

-4.87 pp from 2023

Benchmarks

See 839 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort839 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$49.76M

Not enough data

1 years with asset history on file

Average account balance

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

$31K

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.

1,626

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.

93.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$7.15M

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

+10.13%

Not enough data

1 years with return on file

Admin fee / account holder

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

$210

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

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Service providers

Top 7 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290	Contract Administrator	$296,678
ECONOMIC GROUP PENSION SERVICES1 year Filed as: ECONOMIC GROUP PENSION SERVICES, IN Service code 13	Contract Administrator	$86,925
GLOBAL RETIREMENT PARTNERS LLC2 years Service code 27 · EIN 47-1411118	Advisory (Plan)	$25,461
WEALTH MANAGEMENT SYSTEMS INC1 year Filed as: WEALTH ADVSIORY SERVICES Service code 27 · EIN 99-2539506	Advisory (Plan)	$19,836
FORVIS, LLP1 year Service code 10	Accounting	$15,500
ECONOMIC GROUP PENSION SERVICES2 years Filed as: ECONOMIC GROUP PENSION SERVICES INC Service code 13 · EIN 13-3180178	Contract Administrator	$425
FORVIS, LLP2 years Filed as: FORVIS LLP Service code 10 · EIN 44-0160260	Accounting	$0

Plan features & details

Pension benefit codes2E2J2K2F2G3D3H2S

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$342K

$223 / participant

Investment mgmt$45K13.2%
Contract admin$297K86.8%

% of EOY assets

0.687%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FORVIS MAZARS LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$30,600

$110,258-72.2%

$102,460-70.1%

$200,096-84.7%

Participation rate

93.2%

86.3%+6.9pp

76.5%+16.7pp

72.0%+21.2pp

Annual return

10.13%

35.78%-25.7pp

29.47%-19.3pp

34.26%-24.1pp

Employer contribution / active EE

$1,054

$3,605-70.8%

$3,025-65.2%

$3,038-65.3%

Participant deferral / active EE

$3,619

$6,377-43.2%

$5,056-28.4%

$5,090-28.9%

Admin fee / account holder

$210

$122+72.0%

$9,460-97.8%

$269-21.9%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY9+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$296,678

ECONOMIC GROUP PENSION SERVICES1 year

Filed as: ECONOMIC GROUP PENSION SERVICES, IN

Service code 13

Contract Administrator

$86,925

GLOBAL RETIREMENT PARTNERS LLC2 years

Service code 27 · EIN 47-1411118

Advisory (Plan)

$25,461

WEALTH MANAGEMENT SYSTEMS INC1 year

Filed as: WEALTH ADVSIORY SERVICES

Service code 27 · EIN 99-2539506

Advisory (Plan)

$19,836

FORVIS, LLP1 year

Service code 10

Accounting

$15,500

ECONOMIC GROUP PENSION SERVICES2 years

Filed as: ECONOMIC GROUP PENSION SERVICES INC

Service code 13 · EIN 13-3180178

Contract Administrator

$425

FORVIS, LLP2 years

Filed as: FORVIS LLP

Service code 10 · EIN 44-0160260

Accounting

CORRECT CRAFT HOLDING COMPANY RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CORRECT CRAFT HOLDING COMPANY RETIREMENT 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