Retirement plan

BOAEN MECHANICAL CONTRACTOR, INC. PROFIT SHARING PLAN AND TRUST

Name: BOAEN MECHANICAL CONTRACTOR, INC. - BOAEN MECHANICAL CONTRACTOR, INC. PROFIT SHARING PLAN AND TRUST (2020) Form 5500
Creator: BOAEN MECHANICAL CONTRACTOR, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BOAEN MECHANICAL CONTRACTOR, INC. PROFIT SHARING PLAN AND TRUST, BOAEN MECHANICAL CONTRACTOR, INC.

BOAEN MECHANICAL CONTRACTOR, INC.EIN 58-1514654Plan #001PY 2020

1223 MILLS B LN BLVD - SAVANNAH, GA 31405912-233-3208boaenmechanical.comLinkedIn11-50 employeesconstruction

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$973K

+5.1% from 2019

Total participants

+68.2% from 2019

Average account balance

$29,491

-29.9% from 2019

Annual return

3.83%

+3.53 pp from 2019

Benchmarks

See 16,249 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort16,249 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.65M

Not enough data

1 years with asset history on file

Average account balance

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

$55K

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.

78.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$97K

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

+10.57%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6794

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 codes2J3D2E

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$93K

$3319 / participant

Other / not subdivided$93K100.0%

% of EOY assets

9.548%

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

$29,491

$72,273-59.2%

$101,275-70.9%

$79,856-63.1%

Participation rate

85.7%

68.5%+17.3pp

75.8%+9.9pp

69.6%+16.1pp

Annual return

3.83%

22.30%-18.5pp

46.48%-42.7pp

31.71%-27.9pp

Employer contribution / active EE

$1,309

$2,691-51.4%

$3,660-64.2%

$2,471-47.0%

Participant deferral / active EE

$2,304

$3,282-29.8%

$4,371-47.3%

$3,741-38.4%

Admin fee / account holder

$2,816

$4,401-36.0%

$5,948-52.7%

$5,306-46.9%

BOAEN MECHANICAL CONTRACTOR, INC. PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BOAEN MECHANICAL CONTRACTOR, INC. PROFIT SHARING PLAN AND TRUST

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