Retirement plan

PARATRANSIT, INC. TAX DEFERRED ANNUITY SAVINGS PLAN

Name: PARATRANSIT, INC. - PARATRANSIT, INC. TAX DEFERRED ANNUITY SAVINGS PLAN (2023) Form 5500
Creator: PARATRANSIT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PARATRANSIT, INC. TAX DEFERRED ANNUITY SAVINGS PLAN, PARATRANSIT, INC.

PARATRANSIT, INC.EIN 94-2519965Plan #001PY 2023

2501 FLORIN RD - SACRAMENTO, CA 958224467916-429-2009paratransit.orgLinkedIn201-500 employeestransportation/trucking/railroad

Prospect flagsLow returnsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$6.8M

-3.1% from 2022

Total participants

103

-1.9% from 2022

Average account balance

$90,056

+21.5% from 2022

Annual return

10.03%

+21.98 pp from 2022

Benchmarks

See 4,600 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants25-99

Cohort4,600 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.20M

Not enough data

1 years with asset history on file

Average account balance

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

$112K

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.

140.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$466K

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

+12.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12797

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

Top 8 by compensation

Provider	Service type	Compensation
STIVER INSURANCE AND FINANCIAL SVCS1 year Service code 27 915 HIGHLAND POINTE DR. · ROSEVILLE, CA 95678	Advisory (Plan)	$10,999
RIVERPATH INVESTMENTS LLC7 years Filed as: RIVERPATH INVESTMENTS, LLC Service code 26 · EIN 47-3447827	Advisory (Participants)	$5,532
BENEFIT RESOURCES, INC.1 year Service code 13 · EIN 68-0198481 1545 RIVER PARK DR. · SACRAMENTO, CA 95815	Contract Administrator	$1,700
SARA WHITE1 year Filed as: SARA STIVER Service code 27 9448 CRYSTAL SHORE LN. · ELK GROVE, CA 95758	Advisory (Plan)	$878
DAN GAIPA1 year Filed as: DAN WEILER Service code 27 1024 IRON POINT RD. · FOLSOM, CA 95630	Advisory (Plan)	$627
AMERICAN UNITED LIFE INSURANCE CO8+ years Filed as: AMERICAN UNITED LIFE INSURANCE Service code 15 · EIN 35-0145825 306 S STATE RD 446 · BLOOMINGTON, IN 47401	Recordkeeping	$567
AMERICAN UNITED LIFE INSURANCE CO8+ years Service code 66	Other insurance wrap fees; Insurance ...	$0
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE CO. Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$0

Plan features & details

Pension benefit codes2F2G2L2M2T

Plan features

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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.

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$19K

$275 / participant

Investment mgmt$19K100.0%

% of EOY assets

0.281%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BFBA, LLP
Auditor EIN: 680000424
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$90,056

$51,207+75.9%

$70,565+27.6%

$75,177+19.8%

Participation rate

59.4%

61.0%-1.5pp

68.4%-8.9pp

67.2%-7.8pp

Annual return

10.03%

30.05%-20.0pp

32.79%-22.8pp

160.75%-150.7pp

Employer contribution / active EE

$5,556

$1,826+204.2%

$2,976+86.7%

$2,671+108.0%

Participant deferral / active EE

$1,115

$2,850-60.9%

$4,568-75.6%

$4,126-73.0%

Admin fee / account holder

$253

$4,097-93.8%

$6,430-96.1%

$5,651-95.5%

Provider

Service type

Compensation

STIVER INSURANCE AND FINANCIAL SVCS1 year

Service code 27

915 HIGHLAND POINTE DR. · ROSEVILLE, CA 95678

Advisory (Plan)

$10,999

RIVERPATH INVESTMENTS LLC7 years

Filed as: RIVERPATH INVESTMENTS, LLC

Service code 26 · EIN 47-3447827

Advisory (Participants)

$5,532

BENEFIT RESOURCES, INC.1 year

Service code 13 · EIN 68-0198481

1545 RIVER PARK DR. · SACRAMENTO, CA 95815

Contract Administrator

$1,700

SARA WHITE1 year

Filed as: SARA STIVER

Service code 27

9448 CRYSTAL SHORE LN. · ELK GROVE, CA 95758

Advisory (Plan)

$878

DAN GAIPA1 year

Filed as: DAN WEILER

Service code 27

1024 IRON POINT RD. · FOLSOM, CA 95630

Advisory (Plan)

$627

AMERICAN UNITED LIFE INSURANCE CO8+ years

Filed as: AMERICAN UNITED LIFE INSURANCE

Service code 15 · EIN 35-0145825

306 S STATE RD 446 · BLOOMINGTON, IN 47401

Recordkeeping

$567

AMERICAN UNITED LIFE INSURANCE CO8+ years

Service code 66

Other insurance wrap fees; Insurance ...

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE CO.

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

PARATRANSIT, INC. TAX DEFERRED ANNUITY SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PARATRANSIT, INC. TAX DEFERRED ANNUITY SAVINGS 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