Retirement plan

CHUCK PATTERSON, INC. 401(K) PROFIT SHARING PLAN

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

CHUCK PATTERSON, INC.EIN 94-2644759Plan #001PY 2024

200 EAST AVENUE - CHICO, CA 95926530-895-1771

Prospect flagsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$12.8M

+27.3% from 2023

Total participants

148

+2.1% from 2023

Average account balance

$98,028

+15.6% from 2023

Annual return

27.39%

+7.97 pp from 2023

Benchmarks

See 9,334 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants25-99

Cohort9,334 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.84M

Not enough data

1 years with asset history on file

Average account balance

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

$98K

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.

131

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.

82.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$471K

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

+27.39%

Not enough data

1 years with return on file

Admin fee / account holder

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

$877

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 2 by compensation

Provider	Service type	Compensation
MATRIX TRUST COMPANY10+ years Service code 13 · EIN 75-3182674	Contract Administrator	$59,446
SHEAKLEY WORKFORCE MANAGEMENT1 year Filed as: SHEAKLEY WORKFORCE MANAGEMENT LLC D Service code 13 · EIN 82-3571106 SHEAKLEY PEN · CINCINNATI, OH 45246	Contract Administrator	$12,945

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$115K

$1197 / participant

Trustee / custodial$59K51.7%
Contract admin$55K48.3%

% of EOY assets

0.895%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Qualified opinion

Opinion is qualified - a specific issue limited the scope or accuracy of the audit.

Auditor firm: RICHARD W. POWELL CPA, INC.
Auditor EIN: 814722535
Audit fees: (not subdivided)
Opinion code: Qualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$98,028

$71,215+37.6%

$93,696+4.6%

$80,935+21.1%

Participation rate

82.3%

60.4%+21.9pp

68.7%+13.6pp

67.7%+14.6pp

Annual return

27.39%

11.27%+16.1pp

133.74%-106.3pp

35.66%-8.3pp

Employer contribution / active EE

$1,646

$1,565+5.2%

$2,422-32.0%

$2,757-40.3%

Participant deferral / active EE

$3,259

$4,037-19.3%

$4,417-26.2%

$4,299-24.2%

Admin fee / account holder

$877

$6,958-87.4%

$8,287-89.4%

$6,924-87.3%

Provider

Service type

Compensation

MATRIX TRUST COMPANY10+ years

Service code 13 · EIN 75-3182674

Contract Administrator

$59,446

SHEAKLEY WORKFORCE MANAGEMENT1 year

Filed as: SHEAKLEY WORKFORCE MANAGEMENT LLC D

Service code 13 · EIN 82-3571106

SHEAKLEY PEN · CINCINNATI, OH 45246

Contract Administrator

$12,945

CHUCK PATTERSON, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHUCK PATTERSON, INC. 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