Retirement plan

JERRY MINOR CLEANING & RESTORATION 401(K) PROFIT SHARING PLAN

Name: JERRY MINOR CLEANING & RESTORATION - JERRY MINOR CLEANING & RESTORATION 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: JERRY MINOR CLEANING & RESTORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, JERRY MINOR CLEANING & RESTORATION 401(K) PROFIT SHARING PLAN, JERRY MINOR CLEANING & RESTORATION

JERRY MINOR CLEANING & RESTORATIONEIN 56-2631259Plan #001PY 2024

3014 JOHNSON RD SW - HUNTSVILLE, AL 35805256-508-8237carpet-cleaning-huntsville.comLinkedIn11-50 employeesconstruction

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.7M

+18.4% from 2023

Total participants

-5.3% from 2023

Average account balance

$58,829

+26.5% from 2023

Annual return

11.56%

-4.15 pp from 2023

Benchmarks

See 5,418 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants25-99

Cohort5,418 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.71M

Not enough data

1 years with asset history on file

Average account balance

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

$59K

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.

72.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$185K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+11.56%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3295

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

$96K

$3822 / participant

Other / not subdivided$96K100.0%

% of EOY assets

5.600%

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

$58,829

$57,073+3.1%

$85,126-30.9%

$80,925-27.3%

Participation rate

72.0%

56.4%+15.6pp

67.5%+4.5pp

67.7%+4.3pp

Annual return

11.56%

21.69%-10.1pp

66.63%-55.1pp

35.65%-24.1pp

Employer contribution / active EE

$2,194

$1,801+21.9%

$2,731-19.7%

$2,756-20.4%

Participant deferral / active EE

$5,214

$3,113+67.5%

$4,523+15.3%

$4,299+21.3%

Admin fee / account holder

$3,295

$4,988-33.9%

$6,160-46.5%

$6,940-52.5%

JERRY MINOR CLEANING & RESTORATION 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

JERRY MINOR CLEANING & RESTORATION 401(K) 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