Retirement plan

FAST GROWING TREES LLC 401K PROFIT SHARING PLAN AND TRUST

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

FAST GROWING TREES, LLCEIN 82-3951786Plan #001PY 2024

2621 OLD NATION ROAD - FORT MILL, SC 29715803-993-9398fast-growing-trees.comLinkedIn51-200 employeesretail

Prospect flagsHigh feesLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$1.1M

+42.8% from 2023

Total participants

182

-11.7% from 2023

Average account balance

$20,068

+56.3% from 2023

Annual return

14.84%

+4.90 pp from 2023

Benchmarks

See 2,053 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort2,053 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.06M

Not enough data

1 years with asset history on file

Average account balance

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

$20K

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.

32.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$424K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+14.84%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4149

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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$220K

$1366 / participant

Other / not subdivided$220K100.0%

% of EOY assets

20.676%

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

$20,068

$60,454-66.8%

$81,844-75.5%

$74,459-73.0%

Participation rate

19.9%

63.0%-43.1pp

72.4%-52.5pp

67.2%-47.3pp

Annual return

14.84%

16.87%-2.0pp

778.87%-764.0pp

1369.70%-1354.9pp

Employer contribution / active EE

$2,630-100.0%

$2,916-100.0%

$2,626-100.0%

Participant deferral / active EE

$2,635

$3,398-22.5%

$4,323-39.1%

$4,350-39.4%

Admin fee / account holder

$4,149

$1,490+178.4%

$7,355-43.6%

$1,945+113.4%

FAST GROWING TREES LLC 401K PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FAST GROWING TREES LLC 401K PROFIT SHARING PLAN AND TRUST

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