Retirement plan

HARVEY COMPANIES PROFIT SHARING PLAN

Name: TIDEWATER TRANSIT COMPANY, INC. - HARVEY COMPANIES PROFIT SHARING PLAN (2023) Form 5500
Creator: TIDEWATER TRANSIT COMPANY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HARVEY COMPANIES PROFIT SHARING PLAN, TIDEWATER TRANSIT COMPANY, INC.

TIDEWATER TRANSIT COMPANY, INC.EIN 56-0515560Plan #002PY 2023

P.O. BOX 189 - KINSTON, NC 285020189252-523-4103LinkedIn1-10 employees

Prospect flagsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$21.7M

+17.4% from 2022

Total participants

831

-23.1% from 2022

Average account balance

$35,073

+25.2% from 2022

Annual return

16.37%

+32.31 pp from 2022

Benchmarks

See 665 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants250-999

Cohort665 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$24.50M

Not enough data

1 years with asset history on file

Average account balance

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

$44K

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.

563

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.

67.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.02M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+13.01%

Not enough data

1 years with return on file

Admin fee / account holder

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

$342

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

Top 2 by compensation

Provider	Service type	Compensation
CAPFINANCIAL PARTNERS LLC3 years Filed as: CAPFINANCIAL PARTNERS Service code 27 · EIN 26-0058143	Advisory (Plan)	$79,584
PRINCIPAL LIFE INSURANCE COMPANY3 years Service code 13 · EIN 42-0127290	Contract Administrator	$75,941

Plan features & details

Pension benefit codes2E2F2G2J2K2T2U3D

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.
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

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$156K

$218 / participant

Investment mgmt$80K51.2%
Contract admin$76K48.8%

% of EOY assets

0.718%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PB MARES, LLP
Auditor EIN: 540737372
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$35,073

$49,693-29.4%

$70,544-50.3%

$74,460-52.9%

Participation rate

70.1%

64.7%+5.4pp

68.4%+1.7pp

70.7%-0.7pp

Annual return

16.37%

21.22%-4.8pp

32.79%-16.4pp

34.38%-18.0pp

Employer contribution / active EE

$1,478

$1,773-16.7%

$2,976-50.3%

$2,638-44.0%

Participant deferral / active EE

$1,656

$3,376-50.9%

$4,568-63.7%

$4,530-63.4%

Admin fee / account holder

$252

$316-20.3%

$6,427-96.1%

$348-27.6%

Provider

Service type

Compensation

CAPFINANCIAL PARTNERS LLC3 years

Filed as: CAPFINANCIAL PARTNERS

Service code 27 · EIN 26-0058143

Advisory (Plan)

$79,584

PRINCIPAL LIFE INSURANCE COMPANY3 years

Service code 13 · EIN 42-0127290

Contract Administrator

$75,941

HARVEY COMPANIES PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HARVEY COMPANIES 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