Retirement plan

BESTCO ELECTRIC 401(K) PROFIT SHARING PLAN

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

BESTCO ELECTRIC, INC.EIN 94-2212170Plan #002PY 2024

2160 WARDROBE AVE. - MERCED, CA 95341209-723-2061

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$3.7M

+8.5% from 2023

Total participants

+4.0% from 2023

Average account balance

$48,190

+2.8% from 2023

Annual return

8.37%

-3.58 pp from 2023

Benchmarks

See 18,526 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,526 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.66M

Not enough data

1 years with asset history on file

Average account balance

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

$48K

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.

158.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$425K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+8.37%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5729

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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$435K

$9071 / participant

Other / not subdivided$435K100.0%

% of EOY assets

11.888%

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

$48,190

$81,504-40.9%

$102,437-53.0%

$80,959-40.5%

Participation rate

95.8%

66.9%+29.0pp

74.5%+21.3pp

67.7%+28.2pp

Annual return

8.37%

25.60%-17.2pp

24.95%-16.6pp

35.67%-27.3pp

Employer contribution / active EE

$4,607

$3,104+48.4%

$3,871+19.0%

$2,757+67.1%

Participant deferral / active EE

$4,254

$3,871+9.9%

$5,060-15.9%

$4,300-1.1%

Admin fee / account holder

$5,729

$6,719-14.7%

$8,388-31.7%

$6,925-17.3%

BESTCO ELECTRIC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BESTCO ELECTRIC 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