Retirement plan

FOLEY HOLDINGS, LLC 401(K) PROFIT SHARING PLAN

Name: FOLEY HOLDINGS, LLC - FOLEY HOLDINGS, LLC 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: FOLEY HOLDINGS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FOLEY HOLDINGS, LLC 401(K) PROFIT SHARING PLAN, FOLEY HOLDINGS, LLC

FOLEY HOLDINGS, LLCEIN 80-0873377Plan #001PY 2024

140 HUYSHOPE AVE. FLOOR 2 - HARTFORD, CT 06106978-699-3155

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$13.5M

+15.8% from 2023

Total participants

365

+6.7% from 2023

Average account balance

$38,240

+7.6% from 2023

Annual return

13.90%

-5.17 pp from 2023

Benchmarks

See 1,414 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants100-249

Cohort1,414 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$13.50M

Not enough data

1 years with asset history on file

Average account balance

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

$38K

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.

353

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.

94.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.89M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+13.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$360

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 4 by compensation

Provider	Service type	Compensation
GLOBAL RETIREMENT PARTNERS LLC4 years Service code 99 · EIN 47-1411118	Other Fees	$15,000
CARON & BLETZER, PLLC5 years Filed as: CARON AND BLETZER PLLC Service code 99 · EIN 11-1000111	Other Fees	$10,400
THE ANGELL PENSION GROUP, INC.1 year Filed as: ANGELL PENSION GROUP Service code 49	Other Services	$6,002
THE ANGELL PENSION GROUP, INC.5 years Filed as: THE ANGELL PENSION GROUP INC Service code 99 · EIN 04-2530412	Other Fees	$0

Plan features & details

Pension benefit codes2E2G2J3D2K3H2S2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

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

$127K

$543 / participant

Investment mgmt$19K15.2%
Contract admin$107K84.3%
Other / not subdivided$6500.5%

% of EOY assets

0.942%

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: CARON & BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$38,240

$45,123-15.3%

$85,240-55.1%

$74,478-48.7%

Participation rate

94.9%

49.4%+45.5pp

67.5%+27.3pp

67.2%+27.7pp

Annual return

13.90%

26.32%-12.4pp

66.75%-52.9pp

1370.56%-1356.7pp

Employer contribution / active EE

$2,372

$1,459+62.6%

$2,735-13.3%

$2,626-9.7%

Participant deferral / active EE

$5,709

$2,736+108.6%

$4,527+26.1%

$4,350+31.2%

Admin fee / account holder

$360

$2,215-83.7%

$6,165-94.2%

$1,946-81.5%

Provider

Service type

Compensation

GLOBAL RETIREMENT PARTNERS LLC4 years

Service code 99 · EIN 47-1411118

Other Fees

$15,000

CARON & BLETZER, PLLC5 years

Filed as: CARON AND BLETZER PLLC

Service code 99 · EIN 11-1000111

Other Fees

$10,400

THE ANGELL PENSION GROUP, INC.1 year

Filed as: ANGELL PENSION GROUP

Service code 49

Other Services

$6,002

THE ANGELL PENSION GROUP, INC.5 years

Filed as: THE ANGELL PENSION GROUP INC

Service code 99 · EIN 04-2530412

Other Fees

FOLEY HOLDINGS, LLC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FOLEY HOLDINGS, LLC 401(K) PROFIT SHARING 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