Retirement plan

YOU NEED A BUDGET LLC 401(K) PROFIT SHARING PLAN & TRUST

Name: YOU NEED A BUDGET LLC - YOU NEED A BUDGET LLC 401(K) PROFIT SHARING PLAN & TRUST (2019) Form 5500
Creator: YOU NEED A BUDGET LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, YOU NEED A BUDGET LLC 401(K) PROFIT SHARING PLAN & TRUST, YOU NEED A BUDGET LLC

YOU NEED A BUDGET LLCEIN 47-2847611Plan #001PY 2019

770 EAST MAIN STREET #236 - LEHI, UT 84043801-610-9169

Prospect flagsHigh feesRecently reached 100 employeesLow fidelity bond

How to read this page

Total assets (EOY)

$2.9M

+65.5% from 2018

Total participants

147

+63.3% from 2018

Average account balance

$20,181

+2.0% from 2018

Annual return

38.10%

+37.20 pp from 2018

Benchmarks

See 449 peers

Peer group

Industry45 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort449 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$18.63M

Not enough data

1 years with asset history on file

Average account balance

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

$105K

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.

178

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.

96.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.66M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

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

+25.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$25

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

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

3 tripped

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).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$113K

$961 / participant

Other / not subdivided$113K100.0%

% of EOY assets

3.849%

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

$20,181

$50,175-59.8%

$99,470-79.7%

$65,185-69.0%

Participation rate

99.2%

68.4%+30.7pp

73.8%+25.3pp

70.2%+29.0pp

Annual return

38.10%

25.36%+12.7pp

30.72%+7.4pp

29.38%+8.7pp

Employer contribution / active EE

$1,534

$1,496+2.6%

$2,540-39.6%

$2,177-29.5%

Participant deferral / active EE

$3,560

$2,748+29.6%

$3,619-1.6%

$3,514+1.3%

Admin fee / account holder

$777

$398+95.4%

$6,252-87.6%

$847-8.3%

YOU NEED A BUDGET LLC 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

YOU NEED A BUDGET LLC 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