Retirement plan

THE BURR BROTHERS BOATS, INC. 401(K) & PROFIT SHARING PLAN

Name: BURR BROTHERS BOATS, INC. - THE BURR BROTHERS BOATS, INC. 401(K) & PROFIT SHARING PLAN (2024) Form 5500
Creator: BURR BROTHERS BOATS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE BURR BROTHERS BOATS, INC. 401(K) & PROFIT SHARING PLAN, BURR BROTHERS BOATS, INC.

BURR BROTHERS BOATS, INC.EIN 04-2226888Plan #001PY 2024

309 FRONT STREET - MARION, MA 02738508-748-0541burrbros.comLinkedIn51-200 employeesmachinery

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$6.4M

+13.6% from 2023

Total participants

+13.0% from 2023

Average account balance

$116,401

+3.3% from 2023

Annual return

24.33%

+11.36 pp from 2023

Benchmarks

See 14,159 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,159 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.40M

Not enough data

1 years with asset history on file

Average account balance

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

$116K

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.

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.

88.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$342K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+24.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$17225

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$947K

$18219 / participant

Other / not subdivided$947K100.0%

% of EOY assets

14.798%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$116,401

$86,940+33.9%

$102,434+13.6%

$80,935+43.8%

Participation rate

88.5%

72.4%+16.1pp

76.5%+12.0pp

67.7%+20.8pp

Annual return

24.33%

18.89%+5.4pp

29.46%-5.1pp

35.66%-11.3pp

Employer contribution / active EE

$4,327

$2,370+82.6%

$3,023+43.1%

$2,757+57.0%

Participant deferral / active EE

$2,253

$4,121-45.3%

$5,055-55.4%

$4,299-47.6%

Admin fee / account holder

$17,225

$8,047+114.1%

$9,462+82.0%

$6,924+148.8%

THE BURR BROTHERS BOATS, INC. 401(K) & PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE BURR BROTHERS BOATS, INC. 401(K) & PROFIT SHARING 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