Retirement plan

BANYAN CONSTRUCTION SERVICES, LLC 401(K) PLAN

Name: BANYAN CONSTRUCTION SERVICES, LLC - BANYAN CONSTRUCTION SERVICES, LLC 401(K) PLAN (2023) Form 5500
Creator: BANYAN CONSTRUCTION SERVICES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BANYAN CONSTRUCTION SERVICES, LLC 401(K) PLAN, BANYAN CONSTRUCTION SERVICES, LLC

BANYAN CONSTRUCTION SERVICES, LLCEIN 82-3586390Plan #001PY 2023

650 PATRICK PLACE - BROWNSBURG, IN 46112317-747-0555banyancs.comLinkedIn11-50 employeesconstruction

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2.1M

+34.1% from 2022

Total participants

-18.2% from 2022

Average account balance

$50,805

+50.1% from 2022

Annual return

18.86%

+32.21 pp from 2022

Benchmarks

See 18,047 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,047 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.59M

Not enough data

1 years with asset history on file

Average account balance

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

$60K

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.

119.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$587K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+13.99%

Not enough data

1 years with return on file

Admin fee / account holder

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

$9950

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 codes2E2F2G2J3D2T

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

$153K

$3731 / participant

Other / not subdivided$153K100.0%

% of EOY assets

7.169%

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

$50,805

$73,955-31.3%

$96,520-47.4%

$75,181-32.4%

Participation rate

70.7%

66.4%+4.3pp

74.3%-3.6pp

67.2%+3.5pp

Annual return

18.86%

26.72%-7.9pp

35.72%-16.9pp

160.69%-141.8pp

Employer contribution / active EE

$3,139

$2,930+7.1%

$3,739-16.0%

$2,671+17.5%

Participant deferral / active EE

$6,477

$3,659+77.0%

$4,879+32.8%

$4,126+57.0%

Admin fee / account holder

$3,642

$5,217-30.2%

$6,733-45.9%

$5,650-35.5%

BANYAN CONSTRUCTION SERVICES, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BANYAN CONSTRUCTION SERVICES, LLC 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