Retirement plan

THE FREDERICK MOTOR COMPANY 401(K) PROFIT SHARING PLAN

Name: THE FREDERICK MOTOR COMPANY - THE FREDERICK MOTOR COMPANY 401(K) PROFIT SHARING PLAN (2021) Form 5500
Creator: THE FREDERICK MOTOR COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE FREDERICK MOTOR COMPANY 401(K) PROFIT SHARING PLAN, THE FREDERICK MOTOR COMPANY

THE FREDERICK MOTOR COMPANYEIN 52-0319150Plan #002PY 2021

1 WAVERLEY DRIVE - FREDERICK, MD 217020000301-663-6111fredmotorco.comLinkedIn51-200 employeesautomotive

Prospect flagsLow returnsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$10.6M

+1.5% from 2020

Total participants

132

-2.2% from 2020

Average account balance

$91,514

+1.5% from 2020

Annual return

10.42%

-2.82 pp from 2020

Benchmarks

See 2,170 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,170 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.91M

Not enough data

1 years with asset history on file

Average account balance

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

$86K

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.

127

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.

70.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$629K

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

+11.19%

Not enough data

1 years with return on file

Admin fee / account holder

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

$490

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 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY6 years Filed as: PRINCIPAL LIFE INSURANCE CO Service code 13 · EIN 42-0127290 711 HIGH ST. · DES MOINES, IA 503921200	Contract Administrator	$52,842
SBHU LIFE AGENCY INC6 years Service code 49	Other Services	$23,664
TIGERS EYE BENEFITS CONSULTING5 years Filed as: TIGER'S EYE BENEFITS CONSULTING Service code 13 · EIN 52-1875589 147 W WASHINGTON STREET · HAGERSTOWN, MD 21740	Contract Administrator	$13,746
SBHU LIFE AGENCY INC6 years Filed as: SBHU LIFE AGENCY Service code 49 · EIN 13-2896238 1 NEW YORK PLZ FL 12 · NEW YORK, NY 100041901	Other Services	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$62K

$582 / participant

Contract admin$62K100.0%

% of EOY assets

0.581%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: LSWG, P.A.
Auditor EIN: 521273734
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$91,514

$59,220+54.5%

$96,570-5.2%

$79,391+15.3%

Participation rate

84.9%

61.9%+23.0pp

69.8%+15.1pp

70.7%+14.2pp

Annual return

10.42%

27.08%-16.7pp

37.79%-27.4pp

116.88%-106.5pp

Employer contribution / active EE

$2,119

$1,216+74.2%

$2,357-10.1%

$2,428-12.7%

Participant deferral / active EE

$4,698

$2,948+59.3%

$3,849+22.0%

$4,046+16.1%

Admin fee / account holder

$532

$659-19.2%

$6,182-91.4%

$627-15.1%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY6 years

Filed as: PRINCIPAL LIFE INSURANCE CO

Service code 13 · EIN 42-0127290

711 HIGH ST. · DES MOINES, IA 503921200

Contract Administrator

$52,842

SBHU LIFE AGENCY INC6 years

Service code 49

Other Services

$23,664

TIGERS EYE BENEFITS CONSULTING5 years

Filed as: TIGER'S EYE BENEFITS CONSULTING

Service code 13 · EIN 52-1875589

147 W WASHINGTON STREET · HAGERSTOWN, MD 21740

Contract Administrator

$13,746

SBHU LIFE AGENCY INC6 years

Filed as: SBHU LIFE AGENCY

Service code 49 · EIN 13-2896238

1 NEW YORK PLZ FL 12 · NEW YORK, NY 100041901

Other Services

THE FREDERICK MOTOR COMPANY 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE FREDERICK MOTOR COMPANY 401(K) PROFIT SHARING 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