Retirement plan

COVERSTAR BAY AREA INC. 401K PLAN

Name: COVERSTAR - BAY AREA INC. - COVERSTAR BAY AREA INC. 401K PLAN (2024) Form 5500
Creator: COVERSTAR - BAY AREA INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, COVERSTAR BAY AREA INC. 401K PLAN, COVERSTAR - BAY AREA INC.

COVERSTAR - BAY AREA INC.EIN 68-0359662Plan #001PY 2024

3877 WALNUT BLVD. SUITE F - BRENTWOOD, CA 94513925-383-5629safetycoversystems.comLinkedIn1-10 employees

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.4M

+31.5% from 2023

Total participants

0.0% from 2023

Average account balance

$44,264

-10.9% from 2023

Annual return

11.88%

-6.70 pp from 2023

Benchmarks

See 18,562 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,562 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$256K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

-118.66%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2E2F2G2J3D

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.
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

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

$20K

$755 / participant

Other / not subdivided$20K100.0%

% of EOY assets

1.485%

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

$44,264

$81,457-45.7%

$103,378-57.2%

$80,911-45.3%

Participation rate

92.6%

66.8%+25.7pp

74.5%+18.1pp

67.6%+24.9pp

Annual return

11.88%

25.58%-13.7pp

24.91%-13.0pp

35.63%-23.8pp

Employer contribution / active EE

$4,867

$3,107+56.6%

$3,870+25.8%

$2,756+76.6%

Participant deferral / active EE

$3,373

$3,871-12.9%

$5,058-33.3%

$4,297-21.5%

Admin fee / account holder

$657

$6,717-90.2%

$8,401-92.2%

$6,935-90.5%

COVERSTAR BAY AREA INC. 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

COVERSTAR BAY AREA INC. 401K 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