Retirement plan

NOVI FAMILY PETS 401(K) PROFIT SHARING PLAN

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

NOVI FAMILY PETSEIN 84-3108447Plan #001PY 2024

27200 NOVI ROAD - NOVI, MI 483770000999-999-9999LinkedIn1-10 employeesmedical practice

Prospect flagsLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$311K

+45.4% from 2023

Total participants

+40.0% from 2023

Average account balance

$31,071

+45.4% from 2023

Annual return

13.11%

-7.79 pp from 2023

Benchmarks

See 10,317 peers

Peer group

Industry45 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort10,317 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$311K

Not enough data

1 years with asset history on file

Average account balance

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

$31K

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.

76.9%

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

$5K

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

+13.11%

Not enough data

1 years with return on file

Admin fee / account holder

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

$275

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 codes2E2F2J2T3D

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).
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$3K

$212 / participant

Other / not subdivided$3K100.0%

% of EOY assets

0.886%

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

$31,071

$110,039-71.8%

$97,260-68.1%

$145,884-78.7%

Participation rate

69.2%

75.9%-6.7pp

72.7%-3.4pp

80.3%-11.1pp

Annual return

13.11%

244.44%-231.3pp

75.54%-62.4pp

551.85%-538.7pp

Employer contribution / active EE

$1,714

$3,074-44.3%

$2,721-37.0%

$4,662-63.2%

Participant deferral / active EE

$3,588

$4,674-23.2%

$4,262-15.8%

$6,690-46.4%

Admin fee / account holder

$275

$6,204-95.6%

$5,640-95.1%

$13,392-97.9%

NOVI FAMILY PETS 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NOVI FAMILY PETS 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