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Benchmarking Choice USA Beverage Retirement Savings Plan in Lowell, NC against all plans

 

Within 50 miles, Choice USA Beverage Retirement Savings Plan in Lowell, NC has the most participant loans as a percentage of plan assets (2.73%) among the 34 plans with at most a 0.047% total administrative expense ratio (Choice USA Beverage Retirement Savings Plan is at 0.037%).

That is, among those 34 plans that do well on one measure, Choice USA Beverage Retirement Savings Plan does least well on a related measure. That 2.73% compares to an average of 0.85% across those 34 plans.

Reaching the average of 0.85% would imply a savings of $127,097 in participant loans.

Note: participant loans as a percentage of plan assets =
(100 * participant loans) รท total assets

Choice USA Beverage Retirement Savings Plan has these standings among those 34 peer plans:

  • participant loans as a percentage of plan assets = 2.73% (the most)

  • participant loans = $184,382 (the most)

  • total assets = $6,747,813 (5th-most)

Visualize

 
 

Peers

exceeded Keywell Metals 401(K) Plan in Matthews, NC (2.35%), Bonded Logistics, Inc. Employees Savings Trust in Charlotte, NC (2.28%), Pavement Maintenance Group 401k Plan in Charlotte, NC (2.10%), and Fountain Services, LLC 401k Plan in Spindale, NC (2.07%), and 29 others, ending with Arthur State Bank Retirement Savings Plan in Union, SC (0.00%).

Taking Action

Read the article A Unique Way to Get Others to Improve to understand the reasoning underlying such benchmarking insights.


References

  1. participant loans as a percentage of plan assets. Lower values are better. Participant loans as a percentage of plan assets equals participant loans, Line 1c(8) from Schedule H, divided by total assets, Line 1f(b) from Schedule H, times 100. A high value may indicate excessive borrowing from participants' retirement accounts. To qualify for participant loans as a percentage of plan assets, the number of total assets must be at least $50,000. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
  2. total administrative expense ratio. Lower values are better. Total administrative expense ratio (as a percentage) equals total administrative expenses (Line 2i(5), Schedule H) divided by total assets (end of plan year; Line 1f(b) from Schedule H), times 100. To qualify for total administrative expense ratio, the number of total assets must be at least $50,000. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
  3. within 50 miles.

    • The Latitude and Longitude data used by this application were obtained from the Google Map's geolocation API service.
    • In rare cases, the geolocation isn't found, typically because a street address is missing or incorrect, a zipcode isn't correct or omits a leading zero, or other detail. In such rare cases, the Google Maps service was used manually to identify the correct or likely office latitude and longtidue, with a preference to physical addresses rather than mailing addresses such as a post office box.

    Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.