Retirement plan

FORK PAINT REPAIR SHOP INC 401(K) PROFIT SHARING PLAN & TRUST

Name: FORK PAINT REPAIR SHOP INC - FORK PAINT REPAIR SHOP INC 401(K) PROFIT SHARING PLAN & TRUST (2024) Form 5500
Creator: FORK PAINT REPAIR SHOP INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FORK PAINT REPAIR SHOP INC 401(K) PROFIT SHARING PLAN & TRUST, FORK PAINT REPAIR SHOP INC

FORK PAINT REPAIR SHOP INCEIN 52-0815328Plan #001PY 2024

2705 BEL AIR RD - FALLSTON, MD 210472825410-879-8925

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$1.1M

+7.9% from 2023

Total participants

+4.3% from 2023

Average account balance

$50,583

+2.9% from 2023

Annual return

11.83%

-2.58 pp from 2023

Benchmarks

See 50,137 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort50,137 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.11M

Not enough data

1 years with asset history on file

Average account balance

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

$51K

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.

169.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$15K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+11.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3006

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 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

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$66K

$5087 / participant

Other / not subdivided$66K100.0%

% of EOY assets

5.942%

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

$50,583

$88,710-43.0%

$81,783-38.2%

$145,959-65.3%

Participation rate

84.6%

75.0%+9.6pp

72.4%+12.3pp

80.3%+4.3pp

Annual return

11.83%

1027.26%-1015.4pp

775.05%-763.2pp

561.95%-550.1pp

Employer contribution / active EE

$764

$3,083-75.2%

$2,913-73.8%

$4,661-83.6%

Participant deferral / active EE

$375

$4,645-91.9%

$4,320-91.3%

$6,689-94.4%

Admin fee / account holder

$3,006

$8,407-64.2%

$7,380-59.3%

$13,398-77.6%

FORK PAINT REPAIR SHOP INC 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FORK PAINT REPAIR SHOP INC 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