Retirement plan

CLOSET POSSIBLE 401(K) PLAN

Name: CLOSET POSSIBLE - CLOSET POSSIBLE 401(K) PLAN (2022) Form 5500
Creator: CLOSET POSSIBLE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CLOSET POSSIBLE 401(K) PLAN, CLOSET POSSIBLE

CLOSET POSSIBLEEIN 47-1245342Plan #002PY 2022

1325 ROUTE 206 N, SUITE 23 - SKILLMAN, NJ 08558267-566-3222closetpossible.comLinkedIn1-10 employeesconstruction

Other plans on this EIN

1 filing

#001Retirement-$300K assets

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$32K

No prior year

Total participants

No prior year

Average account balance

$16,035

No prior year

Annual return

0.00%

No prior year

Benchmarks

See 48,271 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort48,271 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$167K

Not enough data

1 years with asset history on file

Average account balance

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

$83K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$39K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$20K

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

+17.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1168

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 codes2E2J2F2G3D2T

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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$841

$210 / participant

Other / not subdivided$841100.0%

% of EOY assets

2.622%

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

$16,035

$133,998-88.0%

$112,263-85.7%

$134,545-88.1%

Participation rate

50.0%

78.6%-28.6pp

75.1%-25.1pp

81.2%-31.2pp

Annual return

0.00%

47.17%-47.2pp

27.49%-27.5pp

418.37%-418.4pp

Employer contribution / active EE

$1,310

$4,040-67.6%

$3,636-64.0%

$4,742-72.4%

Participant deferral / active EE

$7,230

$5,292+36.6%

$4,729+52.9%

$6,401+12.9%

Admin fee / account holder

$421

$7,493-94.4%

$6,410-93.4%

$11,431-96.3%

CLOSET POSSIBLE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CLOSET POSSIBLE 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