Retirement plan

UNIFIRST RETIREMENT SAVINGS PLAN

Name: UNIFIRST CORPORATION - UNIFIRST RETIREMENT SAVINGS PLAN (2020) Form 5500
Creator: UNIFIRST CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UNIFIRST RETIREMENT SAVINGS PLAN, UNIFIRST CORPORATION

UNIFIRST CORPORATIONEIN 04-2103460Plan #001PY 2020

68 JONSPIN ROAD - WILMINGTON, MA 018871090978-658-8888unifirst.comLinkedIn10001+ employeestextiles

Other plans on this EIN

2 filings

#002Retirement-$4.2M assets #006Retirement--

Prospect flagsCorrective distributions

Top hat statement on fileNQDC

Filed March 18, 2022 (most recent of 3 filings on file)

Plan administrator

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68 Jonspin Road

Wilmington, MA 01887

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Plans declared (1)

UniFirst Corporation Deferred Compensation Plan30 emp

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Total assets (EOY)

$485.1M

-9.6% from 2016

Total participants

11,576

-2.4% from 2016

Average account balance

$53,944

-6.1% from 2016

Annual return

14.27%

-9.88 pp from 2016

Benchmarks

See 1,039 peers

Peer group

Industryany (size+type match)

Plan typeDefined contribution

Participants>=10,000

Cohort1,039 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$554.15M

Not enough data

1 years with asset history on file

Average account balance

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

$56K

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.

9,976

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.

71.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$44.14M

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

+12.08%

Not enough data

1 years with return on file

Admin fee / account holder

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

$86

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 4 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH4 years Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 15 · EIN 13-5674085	Recordkeeping	$621,803
CAPFINANCIAL PARTNERS LLC1 year Filed as: CAPTRUST FINANCIAL ADVISORS Service code 50 · EIN 26-0058143	Direct Payment	$100,000
OGLETREE DEAKINS2 years Filed as: OGLETREE, DEAKINS, NASH, SMOAK & ST Service code 29 · EIN 57-1044820	Legal	$44,078
BAKER NEWMAN NOYES2 years Filed as: BAKER, NEWMAN AND NOYES Service code 10 280 FORE STREET · PORTLAND, ME 04112	Accounting	$26,800

Plan features & details

Pension benefit codes2E2F2G2J2K2T3H

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.
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

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$792K

$76 / participant

Other / not subdivided$792K100.0%

% of EOY assets

0.163%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAKER NEWMAN NOYES, LLC
Auditor EIN: 010494526
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$53,944

$106,273-49.2%

$90,468-40.4%

$106,273-49.2%

Participation rate

75.1%

70.8%+4.3pp

72.7%+2.5pp

70.8%+4.3pp

Annual return

14.27%

21.70%-7.4pp

1294.94%-1280.7pp

21.70%-7.4pp

Employer contribution / active EE

$1,412

$2,722-48.1%

$3,264-56.7%

$2,722-48.1%

Participant deferral / active EE

$1,832

$4,601-60.2%

$3,964-53.8%

$4,601-60.2%

Admin fee / account holder

$88

$78+12.4%

$5,614-98.4%

$78+12.4%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH4 years

Filed as: MERRILL LYNCH, PIERCE, FENNER AND S

Service code 15 · EIN 13-5674085

Recordkeeping

$621,803

CAPFINANCIAL PARTNERS LLC1 year

Filed as: CAPTRUST FINANCIAL ADVISORS

Service code 50 · EIN 26-0058143

Direct Payment

$100,000

OGLETREE DEAKINS2 years

Filed as: OGLETREE, DEAKINS, NASH, SMOAK & ST

Service code 29 · EIN 57-1044820

Legal

$44,078

BAKER NEWMAN NOYES2 years

Filed as: BAKER, NEWMAN AND NOYES

Service code 10

280 FORE STREET · PORTLAND, ME 04112

Accounting

$26,800

UNIFIRST RETIREMENT SAVINGS PLAN

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

UNIFIRST RETIREMENT SAVINGS PLAN

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