Retirement plan

EVANS ROOFING COMPANY, INC. PROFIT SHARING 401K PLAN

Name: EVANS ROOFING COMPANY, INC. - EVANS ROOFING COMPANY, INC. PROFIT SHARING 401K PLAN (2021) Form 5500
Creator: EVANS ROOFING COMPANY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EVANS ROOFING COMPANY, INC. PROFIT SHARING 401K PLAN, EVANS ROOFING COMPANY, INC.

EVANS ROOFING COMPANY, INC.EIN 58-2274154Plan #001PY 2021

1421 COLLEGE AVENUE - ELMIRA, NY 14901607-734-8838evansroofingcompany.comLinkedIn51-200 employeesconstruction

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$10.3M

+14.7% from 2020

Total participants

181

-13.8% from 2020

Average account balance

$59,693

+29.3% from 2020

Annual return

13.00%

-0.28 pp from 2020

Benchmarks

See 2,981 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,981 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.15M

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.

186

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.

86.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$830K

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

+13.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

$360

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
CHEMUNG CANAL TRUST COMPANY7+ years Service code 13 · EIN 16-0380815	Contract Administrator	$54,828

Plan features & details

Pension benefit codes2E2G2J2T3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$55K

$508 / participant

Other / not subdivided$55K100.0%

% of EOY assets

0.534%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: EFPR GROUP, CPAS, PLLC
Auditor EIN: 474526160
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$59,693

$77,670-23.1%

$109,163-45.3%

$79,393-24.8%

Participation rate

91.7%

67.8%+23.9pp

75.9%+15.8pp

70.7%+21.0pp

Annual return

13.00%

23.44%-10.4pp

25.75%-12.8pp

116.87%-103.9pp

Employer contribution / active EE

$3,140

$2,798+12.2%

$3,723-15.7%

$2,428+29.3%

Participant deferral / active EE

$3,642

$3,518+3.5%

$4,654-21.7%

$4,046-10.0%

Admin fee / account holder

$319

$732-56.5%

$6,754-95.3%

$627-49.1%

Provider

Service type

Compensation

CHEMUNG CANAL TRUST COMPANY7+ years

Service code 13 · EIN 16-0380815

Contract Administrator

$54,828

EVANS ROOFING COMPANY, INC. PROFIT SHARING 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EVANS ROOFING COMPANY, INC. PROFIT SHARING 401K 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