Retirement plan

DRIVES AND CONVEYORS, INC. 401(K) PROFIT SHARING PLAN

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

DRIVES AND CONVEYORS, INC.EIN 62-0892967Plan #001PY 2021

3865 CUMBERLAND FALLS HWY - CORBIN, KY 40701606-528-0500LinkedIn1-10 employeesretail

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$1.5M

+2.0% from 2020

Total participants

-33.3% from 2020

Average account balance

$128,093

+44.6% from 2020

Annual return

14.90%

+3.60 pp from 2020

Benchmarks

See 8,318 peers

Peer group

Industry45 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort8,318 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.20M

Not enough data

1 years with asset history on file

Average account balance

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

$109K

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.

110.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$42K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+11.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$16529

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 codes2E2F2G2J2T3D

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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$254K

$19564 / participant

Other / not subdivided$254K100.0%

% of EOY assets

16.546%

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

$128,093

$127,296+0.6%

$109,907+16.5%

$167,536-23.5%

Participation rate

69.2%

77.9%-8.7pp

74.2%-5.0pp

82.1%-12.9pp

Annual return

14.90%

22.97%-8.1pp

29.46%-14.6pp

478.82%-463.9pp

Employer contribution / active EE

$850

$3,325-74.4%

$2,844-70.1%

$4,839-82.4%

Participant deferral / active EE

$2,283

$4,513-49.4%

$4,047-43.6%

$6,342-64.0%

Admin fee / account holder

$21,195

$7,119+197.7%

$6,069+249.3%

$12,315+72.1%

DRIVES AND CONVEYORS, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DRIVES AND CONVEYORS, INC. 401(K) PROFIT SHARING 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