Retirement plan

ASSOCIATED GROCERS 401(K) SAVINGS PLAN TRUST ACCOUNT

Name: ASSOCIATED GROCERS OF NEW ENGLAND, INC. - ASSOCIATED GROCERS 401(K) SAVINGS PLAN TRUST ACCOUNT (2021) Form 5500
Creator: ASSOCIATED GROCERS OF NEW ENGLAND, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ASSOCIATED GROCERS 401(K) SAVINGS PLAN TRUST ACCOUNT, ASSOCIATED GROCERS OF NEW ENGLAND, INC.

ASSOCIATED GROCERS OF NEW ENGLAND, INC.EIN 02-0218229Plan #002PY 2021

11 COOPERATIVE WAY, P.O. BOX 6000 - PEMBROKE, NH 03275603-223-6710agne.comLinkedIn201-500 employeeswholesale

Prospect flagsLow returnsLow participationFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed December 28, 2020

Plan administrator

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11 Cooperative Way, P.O. Box 6000

Pembroke, NH 03275

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Plans declared (1)

First Amended and Restated Associated Grocers of New England, Inc. Deferred Compensation Plan3 emp

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Total assets (EOY)

$74.5M

+11.1% from 2020

Total participants

1,831

+1.2% from 2020

Average account balance

$66,533

+7.0% from 2020

Annual return

11.77%

+0.19 pp from 2020

Benchmarks

See 360 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants1,000-4,999

Cohort360 peers

Snapshot2021

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Analytics

Total assets (EOY)

Plan-year ending balance

$76.68M

Not enough data

1 years with asset history on file

Average account balance

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

$68K

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.

1,120

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.

51.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.29M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+10.18%

Not enough data

1 years with return on file

Admin fee / account holder

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

$337

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

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Service providers

Top 10 of 18 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.7+ years Service code 49 · EIN 04-1590850	Other Services	$298,845
THE ANGELL PENSION GROUP, INC.7+ years Service code 13 · EIN 04-2530412	Contract Administrator	$85,681
KESTRA INVESTMENT SERVICES LLC2 years Filed as: KESTRA ADVISORY SERVICES LLC Service code 27	Advisory (Plan)	$75,250
BIGELOW & COMPANY CPA PLLC4 years Filed as: BIGELOW & COMPANY, CPA, PLLC Service code 10	Accounting	$32,860
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: GREAT WEST LIFE & ANNUITY INSURANCE Service code 15 · EIN 84-0467907	Recordkeeping	$12,458
ENVESTNET RETIREMENT SOLUTIONS, LLC2 years Service code 26 · EIN 61-1732930	Advisory (Participants)	$351
AMERICAN REALTY ADVISORS4 years Filed as: AMERICAN BEACON Service code 52 · EIN 75-2401150	Indirect Investment Fees	$0
AMERICAN FUNDS4 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
BIGELOW & COMPANY CPA PLLC4 years Filed as: BIGELOW & COMPANY Service code 10 · EIN 02-0394333	Accounting	$0
BLACKROCK2 years Service code 52 · EIN 51-0318674	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2K2S2T3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

4 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).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$299K

$193 / participant

Investment mgmt$278K92.9%
Contract admin$20K6.8%
Other / not subdivided$9270.3%

% of EOY assets

0.401%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BIGELOW AND COMPANY
Auditor EIN: 020394333
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$66,533

$48,166+38.1%

$96,562-31.1%

$93,030-28.5%

Participation rate

54.1%

65.1%-11.0pp

69.8%-15.7pp

73.9%-19.8pp

Annual return

11.77%

21.31%-9.5pp

37.78%-26.0pp

158.70%-146.9pp

Employer contribution / active EE

$1,165

$1,070+8.9%

$2,356-50.6%

$2,706-57.0%

Participant deferral / active EE

$1,668

$2,576-35.3%

$3,849-56.7%

$4,562-63.4%

Admin fee / account holder

$267

$110+142.1%

$6,181-95.7%

$152+76.0%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.7+ years

Service code 49 · EIN 04-1590850

Other Services

$298,845

THE ANGELL PENSION GROUP, INC.7+ years

Service code 13 · EIN 04-2530412

Contract Administrator

$85,681

KESTRA INVESTMENT SERVICES LLC2 years

Filed as: KESTRA ADVISORY SERVICES LLC

Service code 27

Advisory (Plan)

$75,250

BIGELOW & COMPANY CPA PLLC4 years

Filed as: BIGELOW & COMPANY, CPA, PLLC

Service code 10

Accounting

$32,860

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: GREAT WEST LIFE & ANNUITY INSURANCE

Service code 15 · EIN 84-0467907

Recordkeeping

$12,458

ENVESTNET RETIREMENT SOLUTIONS, LLC2 years

Service code 26 · EIN 61-1732930

Advisory (Participants)

$351

AMERICAN REALTY ADVISORS4 years

Filed as: AMERICAN BEACON

Service code 52 · EIN 75-2401150

Indirect Investment Fees

AMERICAN FUNDS4 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

BIGELOW & COMPANY CPA PLLC4 years

Filed as: BIGELOW & COMPANY

Service code 10 · EIN 02-0394333

Accounting

BLACKROCK2 years

Service code 52 · EIN 51-0318674

Indirect Investment Fees

ASSOCIATED GROCERS 401(K) SAVINGS PLAN TRUST ACCOUNT

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ASSOCIATED GROCERS 401(K) SAVINGS PLAN TRUST ACCOUNT

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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