Retirement plan

EMPLOYEE BENEFIT PLAN OF BINDING SYSTEMS OF AMERICA, LLC

Name: BINDING SYSTEMS OF AMERICA, LLC - EMPLOYEE BENEFIT PLAN OF BINDING SYSTEMS OF AMERICA, LLC (2020) Form 5500
Creator: BINDING SYSTEMS OF AMERICA, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EMPLOYEE BENEFIT PLAN OF BINDING SYSTEMS OF AMERICA, LLC, BINDING SYSTEMS OF AMERICA, LLC

BINDING SYSTEMS OF AMERICA, LLCEIN 71-1033213Plan #001PY 2020

95 HOFFMAN LN - ISLANDIA, NY 117495020631-390-8560bindingsystemsofamerica.comLinkedIn11-50 employeesbusiness supplies and equipment

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$2.9M

+9.5% from 2019

Total participants

0.0% from 2019

Average account balance

$412,881

+9.5% from 2019

Annual return

11.97%

-12.91 pp from 2019

Benchmarks

See 8,254 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort8,254 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.83M

Not enough data

1 years with asset history on file

Average account balance

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

$767K

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.

125.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$69K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+18.62%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3226

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 codes2F2G2T3D

Plan features

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$148K

$29665 / participant

Other / not subdivided$148K100.0%

% of EOY assets

5.132%

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

$412,881

$118,695+247.8%

$98,916+317.4%

$158,950+159.8%

Participation rate

100.0%

77.8%+22.2pp

76.0%+24.0pp

82.0%+18.0pp

Annual return

11.97%

372.39%-360.4pp

196.45%-184.5pp

302.91%-290.9pp

Employer contribution / active EE

$4,516

$3,333+35.5%

$2,689+67.9%

$4,762-5.2%

Participant deferral / active EE

$11,879

$5,088+133.5%

$4,245+179.9%

$5,983+98.6%

Admin fee / account holder

$21,189

$10,132+109.1%

$6,642+219.0%

$11,248+88.4%

EMPLOYEE BENEFIT PLAN OF BINDING SYSTEMS OF AMERICA, LLC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EMPLOYEE BENEFIT PLAN OF BINDING SYSTEMS OF AMERICA, LLC

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