Retirement plan

FOSS AUTO RECYCLING, INC. 401(K) PLAN

Name: FOSS AUTO RECYCLING, INC. - FOSS AUTO RECYCLING, INC. 401(K) PLAN (2023) Form 5500
Creator: FOSS AUTO RECYCLING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FOSS AUTO RECYCLING, INC. 401(K) PLAN, FOSS AUTO RECYCLING, INC.

FOSS AUTO RECYCLING, INC.EIN 56-1782897Plan #001PY 2023

7037 HIGHWAY 70 WEST - LA GRANGE, NC 28551866-534-5865fossrecycling.comLinkedIn201-500 employeeswholesale

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$5M

+24.4% from 2022

Total participants

263

+10.5% from 2022

Average account balance

$32,713

+30.2% from 2022

Annual return

16.28%

+34.35 pp from 2022

Benchmarks

See 2,285 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,285 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.17M

Not enough data

1 years with asset history on file

Average account balance

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

$39K

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.

160

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.

48.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$902K

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

+10.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

$278

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 1 by compensation

Provider	Service type	Compensation
NEWPORT GROUP, INC.1 year Service code 13 · EIN 27-2037969	Contract Administrator	$29,136

Plan features & details

Pension benefit codes2E2F2G2J2T2X3D

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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$29K

$122 / participant

Recordkeeping$4K14.3%
Contract admin$25K85.7%

% of EOY assets

0.586%

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: BERNARD ROBINSON & COMPANY LLC
Auditor EIN: 560571159
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$32,713

$54,717-40.2%

$86,216-62.1%

$71,511-54.3%

Participation rate

53.6%

60.1%-6.5pp

69.0%-15.4pp

67.9%-14.4pp

Annual return

16.28%

20.07%-3.8pp

1169.42%-1153.1pp

28.86%-12.6pp

Employer contribution / active EE

$1,294

$1,267+2.2%

$2,382-45.6%

$2,589-50.0%

Participant deferral / active EE

$2,393

$3,110-23.0%

$3,986-40.0%

$4,291-44.2%

Admin fee / account holder

$192

$1,922-90.0%

$6,853-97.2%

$1,588-87.9%

Provider

Service type

Compensation

NEWPORT GROUP, INC.1 year

Service code 13 · EIN 27-2037969

Contract Administrator

$29,136

FOSS AUTO RECYCLING, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FOSS AUTO RECYCLING, INC. 401(K) 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