Retirement plan

BLACK DIAMOND ELECTRIC 401(K) PLAN

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

BLACK DIAMOND ELECTRIC, INC.EIN 68-0387285Plan #001PY 2024

1300 VERNE ROBERTS CIRCLE - ANTIOCH, CA 94509925-777-3440blackdiamondeliteinc.comLinkedIn11-50 employeesretail

Prospect flagsHigh feesLow participationLow employer contributionLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$11.4M

+24.7% from 2023

Total participants

522

-9.1% from 2023

Average account balance

$64,868

+19.8% from 2023

Annual return

13.43%

-4.27 pp from 2023

Benchmarks

See 1,561 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,561 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.42M

Not enough data

1 years with asset history on file

Average account balance

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

$65K

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.

176

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.

29.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.16M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+13.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

$407

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

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
ASCENSUS LLC6 years Filed as: FORUSALL ADVISORS LLC Service code 13 · EIN 46-1803145 809 LAUREL STREET #1328 · SAN CARLOS, CA 94070	Contract Administrator	$33,679
AT RETIREMENT SERVICES, LLC4 years Service code 12 · EIN 83-3455979 855 MAIN STREET 4TH FLOOR · DUBUQUE, IA 52001	Participant loan processing; Custodia...	$30,815
PENSION ASSURANCE LLP3 years Service code 10 · EIN 30-0840934 5126 CLARETON DRIVE SUITE 110 · AGOURA HILLS, CA 91301	Accounting	$7,067

Plan features & details

Pension benefit codes2A2E2J2K2F2G2R2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

5 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.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$72K

$147 / participant

Recordkeeping$31K43.1%
Contract admin$34K47.1%
Other / not subdivided$7K9.9%

% of EOY assets

0.627%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PENSION ASSURANCE LLP
Auditor EIN: 300840934
Audit fees: $7,067
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$64,868

$83,023-21.9%

$102,437-36.7%

$77,762-16.6%

Participation rate

29.0%

71.5%-42.6pp

74.5%-45.6pp

70.6%-41.6pp

Annual return

13.43%

19.12%-5.7pp

24.95%-11.5pp

31.27%-17.8pp

Employer contribution / active EE

$787

$3,552-77.9%

$3,871-79.7%

$2,728-71.2%

Participant deferral / active EE

$1,599

$4,110-61.1%

$5,060-68.4%

$4,651-65.6%

Admin fee / account holder

$407

$639-36.4%

$8,388-95.2%

$433-6.1%

Provider

Service type

Compensation

ASCENSUS LLC6 years

Filed as: FORUSALL ADVISORS LLC

Service code 13 · EIN 46-1803145

809 LAUREL STREET #1328 · SAN CARLOS, CA 94070

Contract Administrator

$33,679

AT RETIREMENT SERVICES, LLC4 years

Service code 12 · EIN 83-3455979

855 MAIN STREET 4TH FLOOR · DUBUQUE, IA 52001

Participant loan processing; Custodia...

$30,815

PENSION ASSURANCE LLP3 years

Service code 10 · EIN 30-0840934

5126 CLARETON DRIVE SUITE 110 · AGOURA HILLS, CA 91301

Accounting

$7,067

BLACK DIAMOND ELECTRIC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BLACK DIAMOND ELECTRIC 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