Retirement plan

TOYESCO 401(K) PLAN

Name: MYERS AUTOMOTIVE GROUP INC. DBA TOYOTA OF ESCONDIDO - TOYESCO 401(K) PLAN (2019) Form 5500
Creator: MYERS AUTOMOTIVE GROUP INC. DBA TOYOTA OF ESCONDIDO
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TOYESCO 401(K) PLAN, MYERS AUTOMOTIVE GROUP INC. DBA TOYOTA OF ESCONDIDO

MYERS AUTOMOTIVE GROUP INC. DBA TOYOTA OF ESCONDIDOEIN 95-3263258Plan #001PY 2019

231 E. LINCOLN PARKWAY - ESCONDIDO, CA 92026760-300-1112

Prospect flagsLow employer contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$8.4M

+37.3% from 2018

Total participants

365

+20.5% from 2018

Average account balance

$29,099

+4.5% from 2018

Annual return

25.41%

+31.98 pp from 2018

Benchmarks

See 1,312 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,312 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.54M

Not enough data

1 years with asset history on file

Average account balance

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

$36K

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.

323

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.

86.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.09M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+13.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

$276

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 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY5+ years Service code 13 · EIN 42-0127290	Contract Administrator	$5,706
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANAGEMENT Service code 26 · EIN 36-4317381	Advisory (Participants)	$2,854
VOYA RETIREMENT INSURANCE & ANNUITY1 year Filed as: VOYA RETIREMENT INSURANCE AND ANNUI Service code 13 · EIN 71-0294708	Contract Administrator	$2,854
TSP ASSOCIATES, INC.1 year Filed as: TSP ASSOCIATES INC. Service code 13 · EIN 95-4080924 500 E OLIVE AVENUE, SUITE 530 · BURBANK, CA 91501	Contract Administrator	$1,500
MORNINGSTAR1 year Service code 27	Advisory (Plan)	$1,338

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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 employer contribution
Employer contribution per participant 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

$21K

$74 / participant

Contract admin$20K94.5%
Other / not subdivided$1K5.5%

% of EOY assets

0.253%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: LANCE SOLL & LUNGHARD, LLP
Auditor EIN: 952700123
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$29,099

$40,174-27.6%

$84,023-65.4%

$67,582-56.9%

Participation rate

73.7%

62.7%+11.0pp

69.0%+4.7pp

71.3%+2.4pp

Annual return

25.41%

25.82%-0.4pp

71.32%-45.9pp

378.57%-353.2pp

Employer contribution / active EE

$18

$808-97.7%

$1,984-99.1%

$2,148-99.1%

Participant deferral / active EE

$3,193

$2,301+38.8%

$3,239-1.4%

$3,539-9.8%

Admin fee / account holder

$74

$128-42.6%

$6,102-98.8%

$142-48.2%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY5+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$5,706

MORNINGSTAR1 year

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT

Service code 26 · EIN 36-4317381

Advisory (Participants)

$2,854

VOYA RETIREMENT INSURANCE & ANNUITY1 year

Filed as: VOYA RETIREMENT INSURANCE AND ANNUI

Service code 13 · EIN 71-0294708

Contract Administrator

$2,854

TSP ASSOCIATES, INC.1 year

Filed as: TSP ASSOCIATES INC.

Service code 13 · EIN 95-4080924

500 E OLIVE AVENUE, SUITE 530 · BURBANK, CA 91501

Contract Administrator

$1,500

MORNINGSTAR1 year

Service code 27

Advisory (Plan)

$1,338

TOYESCO 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TOYESCO 401(K) 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