Retirement plan

GOFF COMMUNICATIONS, INC. 401(K) PLAN

Name: GOFF COMMUNICATIONS, INC. - GOFF COMMUNICATIONS, INC. 401(K) PLAN (2020) Form 5500
Creator: GOFF COMMUNICATIONS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GOFF COMMUNICATIONS, INC. 401(K) PLAN, GOFF COMMUNICATIONS, INC.

GOFF COMMUNICATIONS, INC.EIN 59-1149381Plan #001PY 2020

6448 PARKLAND DRIVE - SARASOTA, FL 34243941-955-7106LinkedIn51-200 employees

Prospect flagsLow assets / participantLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$4.6M

+30.8% from 2019

Total participants

379

+11.5% from 2019

Average account balance

$12,360

+16.3% from 2019

Annual return

20.50%

-2.80 pp from 2019

Benchmarks

See 2,939 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,939 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.72M

Not enough data

1 years with asset history on file

Average account balance

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

$30K

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.

155

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.

90.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$402K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+11.77%

Not enough data

1 years with return on file

Admin fee / account holder

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

$293

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 3 by compensation

Provider	Service type	Compensation
CPI QUALIFIED PLAN CONSULTANTS, INC1 year Filed as: CPI QUALIFIED PLAN CONSULTANTS Service code 15 · EIN 48-1205033	Recordkeeping	$22,186
RAYMOND JAMES FINANCIAL SERVICES3 years Filed as: RAYMOND JAMES Service code 26 · EIN 59-2937883	Advisory (Participants)	$11,102
THE AIMPOINT GROUP1 year Service code 14 · EIN 46-1931817	Plan Administrator	$10,422

Plan features & details

Pension benefit codes2E2J2K2F2G3D3H

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.
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

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$43K

$264 / participant

Investment mgmt$11K25.9%
Contract admin$32K74.1%

% of EOY assets

0.938%

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: CARON & BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$12,360

$69,383-82.2%

$101,264-87.8%

$73,493-83.2%

Participation rate

93.8%

68.4%+25.5pp

75.8%+18.0pp

70.7%+23.1pp

Annual return

20.50%

18.46%+2.0pp

46.48%-26.0pp

28.51%-8.0pp

Employer contribution / active EE

$249

$2,628-90.5%

$3,660-93.2%

$2,270-89.0%

Participant deferral / active EE

$4,119

$3,301+24.8%

$4,370-5.8%

$3,740+10.1%

Admin fee / account holder

$116

$704-83.5%

$5,947-98.1%

$513-77.4%

Provider

Service type

Compensation

CPI QUALIFIED PLAN CONSULTANTS, INC1 year

Filed as: CPI QUALIFIED PLAN CONSULTANTS

Service code 15 · EIN 48-1205033

Recordkeeping

$22,186

RAYMOND JAMES FINANCIAL SERVICES3 years

Filed as: RAYMOND JAMES

Service code 26 · EIN 59-2937883

Advisory (Participants)

$11,102

THE AIMPOINT GROUP1 year

Service code 14 · EIN 46-1931817

Plan Administrator

$10,422

GOFF COMMUNICATIONS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GOFF COMMUNICATIONS, 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