Retirement plan

BAY COLONY ASSOCIATES, INC. 401(K) PLAN

Name: BAY COLONY ASSOCIATES, INC. - BAY COLONY ASSOCIATES, INC. 401(K) PLAN (2017) Form 5500
Creator: BAY COLONY ASSOCIATES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BAY COLONY ASSOCIATES, INC. 401(K) PLAN, BAY COLONY ASSOCIATES, INC.

BAY COLONY ASSOCIATES, INC.EIN 04-2629544Plan #002PY 2017

820 MORRISSEY BLVD. - BOSTON, MA 02122617-287-9100phillipsboston.comLinkedIn1-10 employeeshospitality

Prospect flagsLow returnsLow participation

Top hat statement on fileNQDC

Filed April 25, 2024

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Total assets (EOY)

$4.3M

+16.8% from 2016

Total participants

170

-11.0% from 2016

Average account balance

$80,481

+5.8% from 2016

Annual return

12.75%

+5.69 pp from 2016

Benchmarks

See 841 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants100-249

Cohort841 peers

Snapshot2017

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Analytics

Total assets (EOY)

Plan-year ending balance

$5.03M

Not enough data

1 years with asset history on file

Average account balance

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

$101K

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.

39.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$315K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+9.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$7142

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

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
UNIFIED TRUST COMPANY, N.A.3+ years Filed as: UNIFIED TRUST CO. N.A. Service code 21 2353 ALEXANDRIA DR SUITE 100 · LEXINGTON, KY 40504	Bank Trustee	$950
LPL FINANCIAL3+ years Filed as: LPL FINANCIAL CORP. Service code 27 · EIN 95-2834236	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K3D3H

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.
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

2 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.

Expense breakdown

Schedule H Part II

Admin total

$950

$7 / participant

Contract admin$950100.0%

% of EOY assets

0.022%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: JOHNSON, O'CONNOR, FERON & CARUCCI
Auditor EIN: 023985546
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$80,481

$31,388+156.4%

$73,550+9.4%

$62,293+29.2%

Participation rate

18.8%

39.9%-21.1pp

54.9%-36.2pp

69.5%-50.8pp

Annual return

12.75%

25.34%-12.6pp

-15.16%+27.9pp

28.90%-16.1pp

Employer contribution / active EE

$567

$498+13.8%

$1,219-53.5%

$2,042-72.3%

Participant deferral / active EE

$1,124

$1,028+9.3%

$1,804-37.7%

$3,169-64.5%

Admin fee / account holder

$18

$299-94.0%

$2,320-99.2%

$479-96.3%

Provider

Service type

Compensation

UNIFIED TRUST COMPANY, N.A.3+ years

Filed as: UNIFIED TRUST CO. N.A.

Service code 21

2353 ALEXANDRIA DR SUITE 100 · LEXINGTON, KY 40504

Bank Trustee

$950

LPL FINANCIAL3+ years

Filed as: LPL FINANCIAL CORP.

Service code 27 · EIN 95-2834236

Advisory (Plan)

BAY COLONY ASSOCIATES, INC. 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BAY COLONY ASSOCIATES, INC. 401(K) PLAN

Top hat statement on fileNQDC

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