Covestic, Inc.401(k)
COVESTIC INC. 401K PROFIT SHARING PLAN · KIRKLAND, WA · plan year 2022
Peer grade: B · admin costs + employer contributions vs same-size plans · how grading works
Covestic, Inc. reported $62,324 in plan administrative expenses for 2022: 1.40% of average plan assets, higher than ~90% of peers. Employer contributions averaged $7,792 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
The plan sits in the $1M–$10M size bracket, benchmarked here against 30,021 comparable plans and shown alongside other wholesale trade employers. By assets it is among the smaller plans on file in Washington (1,702nd of 1,714), and 4,213th of 4,246 in wholesale trade. In 2022, employees put in $22.60 for every $1.00 the employer contributed.
Covestic, Inc.'s 2022 employer contribution ran above the $1,114 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2022 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 912141220 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.