Retirement plan

AL-FAROOQ CORPORATION EMPLOYEES RETIREMENT TRUST

Name: AL-FAROOQ CORPORATION - AL-FAROOQ CORPORATION EMPLOYEES RETIREMENT TRUST (2023) Form 5500
Creator: AL-FAROOQ CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AL-FAROOQ CORPORATION EMPLOYEES RETIREMENT TRUST, AL-FAROOQ CORPORATION

AL-FAROOQ CORPORATIONEIN 59-2200692Plan #001PY 2023

9360 SUNSET DRIVE SUITE 220 - MIAMI, FL 33173305-264-8100afceng.comLinkedIn11-50 employeescivil engineering

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$3.5M

+18.5% from 2022

Total participants

-7.7% from 2022

Average account balance

$145,451

+28.3% from 2022

Annual return

16.74%

+32.55 pp from 2022

Benchmarks

See 139,849 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort139,849 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.08M

Not enough data

1 years with asset history on file

Average account balance

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

$170K

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.

171.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$138K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+13.27%

Not enough data

1 years with return on file

Admin fee / account holder

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

$609

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 codes2E2F2G2J2T3D3H3B

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

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

$97K

$6924 / participant

Other / not subdivided$97K100.0%

% of EOY assets

2.777%

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

$145,451

$148,582-2.1%

$135,942+7.0%

$139,456+4.3%

Participation rate

100.0%

83.9%+16.1pp

81.9%+18.1pp

80.3%+19.7pp

Annual return

16.74%

79.26%-62.5pp

68.28%-51.5pp

373.45%-356.7pp

Employer contribution / active EE

$3,071

$5,245-41.4%

$4,858-36.8%

$4,753-35.4%

Participant deferral / active EE

$7,108

$8,101-12.3%

$7,759-8.4%

$6,711+5.9%

Admin fee / account holder

$4,039

$12,402-67.4%

$10,764-62.5%

$11,407-64.6%

AL-FAROOQ CORPORATION EMPLOYEES RETIREMENT TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AL-FAROOQ CORPORATION EMPLOYEES RETIREMENT 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