Retirement plan

BECK AUTO SALES, INC. 401(K) PLAN

Name: BECK AUTO SALES, INC. - BECK AUTO SALES, INC. 401(K) PLAN (2022) Form 5500
Creator: BECK AUTO SALES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BECK AUTO SALES, INC. 401(K) PLAN, BECK AUTO SALES, INC.

BECK AUTO SALES, INC.EIN 59-3157547Plan #002PY 2022

252 N. HIGHWAY 17 - PALATKA, FL 32177386-328-0344LinkedIn11-50 employeesaccounting

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$6.1M

+0.7% from 2021

Total participants

327

-2.4% from 2021

Average account balance

$36,598

+28.0% from 2021

Annual return

1.44%

+2.95 pp from 2021

Benchmarks

See 1,277 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,277 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.94M

Not enough data

1 years with asset history on file

Average account balance

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

$54K

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.

129

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.

22.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$293K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$906

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

+14.28%

Not enough data

1 years with return on file

Admin fee / account holder

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

$280

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

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
WIREGRASS ASSET MANAGEMENT4 years Service code 26 · EIN 81-3486133	Advisory (Participants)	$12,263
JOHN HANCOCK LIFE INSURANCE COMPANY1 year Filed as: JOHN HANCOCK LIFE INSURANCE CO Service code 15 · EIN 01-0233346	Recordkeeping	$1,812

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$36K

$124 / participant

Contract admin$36K100.0%

% of EOY assets

0.588%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: VERDEJA AND ALVAREZ, LLP
Auditor EIN: 204989621
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$36,598

$42,367-13.6%

$79,580-54.0%

$64,819-43.5%

Participation rate

44.3%

64.7%-20.4pp

69.5%-25.2pp

71.5%-27.2pp

Annual return

1.44%

-12.23%+13.7pp

0.15%+1.3pp

32.84%-31.4pp

Employer contribution / active EE

$1,181-100.0%

$2,413-100.0%

$2,507-100.0%

Participant deferral / active EE

$1,298

$3,170-59.1%

$3,985-67.4%

$4,311-69.9%

Admin fee / account holder

$215

$160+34.8%

$6,835-96.9%

$188+14.6%

Provider

Service type

Compensation

WIREGRASS ASSET MANAGEMENT4 years

Service code 26 · EIN 81-3486133

Advisory (Participants)

$12,263

JOHN HANCOCK LIFE INSURANCE COMPANY1 year

Filed as: JOHN HANCOCK LIFE INSURANCE CO

Service code 15 · EIN 01-0233346

Recordkeeping

$1,812

BECK AUTO SALES, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BECK AUTO SALES, 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