Retirement plan

BUSINESS FORECAST SYSTEMS, INC. 401(K) PLAN

Name: BUSINESS FORECAST SYSTEMS, INC. - BUSINESS FORECAST SYSTEMS, INC. 401(K) PLAN (2024) Form 5500
Creator: BUSINESS FORECAST SYSTEMS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BUSINESS FORECAST SYSTEMS, INC. 401(K) PLAN, BUSINESS FORECAST SYSTEMS, INC.

BUSINESS FORECAST SYSTEMS, INC.EIN 04-2929706Plan #004PY 2024

465 WAVERLY OAKS ROAD, SUITE 318 - WALTHAM, MA 02452617-484-5050

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$4.1M

-18.0% from 2023

Total participants

+13.3% from 2023

Average account balance

$274,172

-23.5% from 2023

Annual return

13.79%

-8.18 pp from 2023

Benchmarks

See 12,288 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants<25

Cohort12,288 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.11M

Not enough data

1 years with asset history on file

Average account balance

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

$274K

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.

83.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$194K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+13.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$119333

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 codes2F2G2J2T2E3D

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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$1.8M

$149167 / participant

Other / not subdivided$2M100.0%

% of EOY assets

43.525%

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

$274,172

$108,897+151.8%

$100,378+173.1%

$145,877+87.9%

Participation rate

83.3%

83.0%+0.4pp

81.5%+1.8pp

80.3%+3.0pp

Annual return

13.79%

58.17%-44.4pp

49.41%-35.6pp

551.28%-537.5pp

Employer contribution / active EE

$4,405

$4,420-0.3%

$3,942+11.8%

$4,663-5.5%

Participant deferral / active EE

$11,757

$8,455+39.1%

$8,087+45.4%

$6,691+75.7%

Admin fee / account holder

$119,333

$9,690+1131.5%

$7,899+1410.7%

$13,402+790.4%

BUSINESS FORECAST SYSTEMS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BUSINESS FORECAST SYSTEMS, INC. 401(K) 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