Retirement plan

COASTAL COMMERCE GROUP, LLC 401(K) RETIREMENT PLAN

Name: COASTAL COMMERCE GROUP, LLC - COASTAL COMMERCE GROUP, LLC 401(K) RETIREMENT PLAN (2022) Form 5500
Creator: COASTAL COMMERCE GROUP, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, COASTAL COMMERCE GROUP, LLC 401(K) RETIREMENT PLAN, COASTAL COMMERCE GROUP, LLC

COASTAL COMMERCE GROUP, LLCEIN 55-0897434Plan #001PY 2022

6 CANAL STREET, PO BOX 554 - WESTERLY, RI 02891401-596-3100coastalcommercegroup.comLinkedIn1-10 employees

Prospect flagsHigh feesLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$726K

-12.3% from 2021

Total participants

+42.9% from 2021

Average account balance

$242,034

-12.3% from 2021

Annual return

-17.94%

-37.44 pp from 2021

Benchmarks

See 133,872 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort133,872 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.08M

Not enough data

1 years with asset history on file

Average account balance

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

$358K

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.

25.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$56K

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

+12.18%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1714

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 codes2E2F2G2J2T3D3H

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$11K

$1051 / participant

Other / not subdivided$11K100.0%

% of EOY assets

1.448%

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

$242,034

$138,102+75.3%

$125,381+93.0%

$134,532+79.9%

Participation rate

30.0%

84.5%-54.5pp

82.4%-52.4pp

81.2%-51.2pp

Annual return

-17.94%

750.73%-768.7pp

572.31%-590.2pp

418.27%-436.2pp

Employer contribution / active EE

$1,506

$5,245-71.3%

$4,815-68.7%

$4,741-68.2%

Participant deferral / active EE

$3,159

$7,801-59.5%

$7,448-57.6%

$6,401-50.6%

Admin fee / account holder

$3,504

$11,568-69.7%

$10,007-65.0%

$11,429-69.3%

COASTAL COMMERCE GROUP, LLC 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

COASTAL COMMERCE GROUP, LLC 401(K) 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