Retirement plan

KARO FINANCIAL SERVICES 401(K) PROFIT SHARING PLAN AND TRUST

Name: KARO FINANCIAL SERVICES, INC. - KARO FINANCIAL SERVICES 401(K) PROFIT SHARING PLAN AND TRUST (2024) Form 5500
Creator: KARO FINANCIAL SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KARO FINANCIAL SERVICES 401(K) PROFIT SHARING PLAN AND TRUST, KARO FINANCIAL SERVICES, INC.

KARO FINANCIAL SERVICES, INC.EIN 86-0810958Plan #001PY 2024

14274 N. NORTHSIGHT BLVD SUITE 100 - SCOTTSDALE, AZ 85260480-473-0376LinkedIn1-10 employeestelecommunications

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2M

+22.6% from 2023

Total participants

-9.1% from 2023

Average account balance

$197,711

+34.8% from 2023

Annual return

12.78%

-14.94 pp from 2023

Benchmarks

See 143,561 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort143,561 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.98M

Not enough data

1 years with asset history on file

Average account balance

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

$198K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$169K

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

+12.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1390

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 codes2E2J2F2G3D2T

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

$14K

$1390 / participant

Other / not subdivided$14K100.0%

% of EOY assets

0.703%

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

$197,711

$160,028+23.5%

$147,080+34.4%

$145,884+35.5%

Participation rate

100.0%

84.0%+16.0pp

82.2%+17.8pp

80.3%+19.7pp

Annual return

12.78%

98.60%-85.8pp

420.17%-407.4pp

551.85%-539.1pp

Employer contribution / active EE

$2,947

$5,286-44.2%

$4,933-40.3%

$4,662-36.8%

Participant deferral / active EE

$13,966

$8,422+65.8%

$8,066+73.1%

$6,690+108.8%

Admin fee / account holder

$1,390

$15,030-90.8%

$12,989-89.3%

$13,392-89.6%

KARO FINANCIAL SERVICES 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KARO FINANCIAL SERVICES 401(K) 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