Retirement plan

CFG RETIREMENT SAVINGS PROGRAM

Name: CARIBBEAN FINANCIAL GROUP - CFG RETIREMENT SAVINGS PROGRAM (2020) Form 5500
Creator: CARIBBEAN FINANCIAL GROUP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CFG RETIREMENT SAVINGS PROGRAM, CARIBBEAN FINANCIAL GROUP

CARIBBEAN FINANCIAL GROUPEIN 71-1011997Plan #002PY 2020

P.O. BOX 192388 - SAN JUAN, PR 009192388305-933-6600

Other plans on this EIN

1 filing

#001Retirement-$6.3M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$4.8M

+29.4% from 2019

Total participants

-4.1% from 2019

Average account balance

$108,807

+23.5% from 2019

Annual return

20.25%

-15.19 pp from 2019

Benchmarks

See 7,209 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,209 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.90M

Not enough data

1 years with asset history on file

Average account balance

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

$197K

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.

140.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$530K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$21K

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

+13.44%

Not enough data

1 years with return on file

Admin fee / account holder

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

$20428

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

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

$274K

$8849 / participant

Other / not subdivided$274K100.0%

% of EOY assets

5.730%

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

$108,807

$123,793-12.1%

$177,848-38.8%

$79,856+36.3%

Participation rate

90.3%

84.7%+5.7pp

87.7%+2.6pp

69.6%+20.7pp

Annual return

20.25%

22.82%-2.6pp

48.33%-28.1pp

31.71%-11.5pp

Employer contribution / active EE

$8,424

$4,095+105.7%

$5,919+42.3%

$2,471+240.9%

Participant deferral / active EE

$10,454

$5,956+75.5%

$7,714+35.5%

$3,741+179.5%

Admin fee / account holder

$6,235

$7,243-13.9%

$12,431-49.8%

$5,306+17.5%

CFG RETIREMENT SAVINGS PROGRAM

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CFG RETIREMENT SAVINGS PROGRAM

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