Retirement plan

COVE ELECTRIC EMPLOYEE RETIREMENT PLAN

Name: COVE ELECTRIC, INC. - COVE ELECTRIC EMPLOYEE RETIREMENT PLAN (2017) Form 5500
Creator: COVE ELECTRIC, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, COVE ELECTRIC EMPLOYEE RETIREMENT PLAN, COVE ELECTRIC, INC.

COVE ELECTRIC, INC.EIN 52-1162516Plan #001PY 2017

200 EDGEWOOD ROAD - EDGEWOOD, MD 21040410-679-0776cove-elec.comLinkedIn51-200 employeesconstruction

Other plans on this EIN

1 filing

#002Retirement-$121K assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.7M

+41.3% from 2016

Total participants

+6.0% from 2016

Average account balance

$26,303

+34.8% from 2016

Annual return

17.20%

+11.41 pp from 2016

Benchmarks

See 14,318 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort14,318 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.73M

Not enough data

1 years with asset history on file

Average account balance

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

$81K

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.

133.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$543K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+13.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1958

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

1 tripped

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

$25K

$467 / participant

Other / not subdivided$25K100.0%

% of EOY assets

1.475%

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

$26,303

$63,346-58.5%

$92,240-71.5%

$70,126-62.5%

Participation rate

88.9%

68.7%+20.2pp

76.5%+12.4pp

69.5%+19.3pp

Annual return

17.20%

530.19%-513.0pp

176.29%-159.1pp

73.15%-55.9pp

Employer contribution / active EE

$3,186

$2,471+28.9%

$3,680-13.4%

$2,343+36.0%

Participant deferral / active EE

$2,688

$2,854-5.8%

$3,897-31.0%

$3,332-19.3%

Admin fee / account holder

$388

$3,841-89.9%

$5,194-92.5%

$4,645-91.6%

COVE ELECTRIC EMPLOYEE RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

COVE ELECTRIC EMPLOYEE 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