Retirement plan

MULLINS BODY SHOP 401(K)

Name: MULLINS BODY SHOP LLC - MULLINS BODY SHOP 401(K) (2022) Form 5500
Creator: MULLINS BODY SHOP LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MULLINS BODY SHOP 401(K), MULLINS BODY SHOP LLC

MULLINS BODY SHOP LLCEIN 63-1268720Plan #001PY 2022

11042 US HWY 31 SOUTH - CULLMAN, AL 350555365256-734-1353LinkedIn11-50 employeesindividual & family services

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$242K

+12.9% from 2021

Total participants

+9.1% from 2021

Average account balance

$48,391

+12.9% from 2021

Annual return

-19.36%

-34.22 pp from 2021

Benchmarks

See 39,322 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort39,322 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$436K

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.

57.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$83K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+10.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12243

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 codes2E2F2G2J2T3B3D

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.

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

$3K

$257 / participant

Other / not subdivided$3K100.0%

% of EOY assets

1.166%

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

$48,391

$92,684-47.8%

$82,706-41.5%

$134,509-64.0%

Participation rate

36.4%

75.2%-38.8pp

72.6%-36.2pp

81.2%-44.9pp

Annual return

-19.36%

945.84%-965.2pp

701.76%-721.1pp

418.13%-437.5pp

Employer contribution / active EE

$528

$3,272-83.9%

$3,007-82.4%

$4,741-88.9%

Participant deferral / active EE

$5,760

$4,800+20.0%

$4,394+31.1%

$6,400-10.0%

Admin fee / account holder

$564

$5,982-90.6%

$5,329-89.4%

$11,427-95.1%

MULLINS BODY SHOP 401(K)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MULLINS BODY SHOP 401(K)

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