Retirement plan

BFAIR 403(B) PLAN

Name: BERKSHIRE FAMILY AND INDIVIDUAL RESOURCES, INC. - BFAIR 403(B) PLAN (2018) Form 5500
Creator: BERKSHIRE FAMILY AND INDIVIDUAL RESOURCES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BFAIR 403(B) PLAN, BERKSHIRE FAMILY AND INDIVIDUAL RESOURCES, INC.

BERKSHIRE FAMILY AND INDIVIDUAL RESOURCES, INC.EIN 04-3246975Plan #002PY 2018

771 SOUTH CHURCH STREET - NORTH ADAMS, MA 012474109413-664-9382LinkedIn51-200 employeeshospital & health care

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$1.7M

+3.9% from 2017

Total participants

266

+7.7% from 2017

Average account balance

$19,363

-33.6% from 2017

Annual return

9.66%

-2.14 pp from 2017

Benchmarks

See 1,272 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,272 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.19M

Not enough data

1 years with asset history on file

Average account balance

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

$19K

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.

171

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.

55.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$321K

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

+12.59%

Not enough data

1 years with return on file

Admin fee / account holder

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

$152

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 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290	Contract Administrator	$10,171
COMMONWELATH EQUITY SERVICES, INC.1 year Filed as: COMMONWELATH FINANCIAL NETWORK Service code 27	Advisory (Plan)	$6,258
COMMONWEALTH FINANCIAL NETWORK1 year Service code 27 · EIN 04-2675571	Advisory (Plan)	$0
WILSHIRE ASSOCIATES INCORPORATED3+ years Filed as: WILSHIRE ASSOCIATED INCORPORATED Service code 27	Advisory (Plan)	$0
WILSHIRE ASSOCIATES INCORPORATED3+ years Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2A2E2F2G2K2M3D

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.
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.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$10K

$39 / participant

Contract admin$10K97.6%
Other / not subdivided$2402.4%

% of EOY assets

0.611%

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: LOMBARDI, CLAIRMONT & KEEGAN
Auditor EIN: 042511474
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$19,363

$35,485-45.4%

$74,551-74.0%

$55,725-65.3%

Participation rate

30.2%

62.5%-32.3pp

69.1%-38.9pp

70.9%-40.6pp

Annual return

9.66%

0.72%+8.9pp

32.53%-22.9pp

244.93%-235.3pp

Employer contribution / active EE

$252

$777-67.6%

$1,961-87.2%

$2,078-87.9%

Participant deferral / active EE

$474

$2,181-78.2%

$3,108-84.7%

$3,356-85.9%

Admin fee / account holder

$118

$114+3.5%

$5,059-97.7%

$115+2.7%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY3+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$10,171

COMMONWELATH EQUITY SERVICES, INC.1 year

Filed as: COMMONWELATH FINANCIAL NETWORK

Service code 27

Advisory (Plan)

$6,258

COMMONWEALTH FINANCIAL NETWORK1 year

Service code 27 · EIN 04-2675571

Advisory (Plan)

WILSHIRE ASSOCIATES INCORPORATED3+ years

Filed as: WILSHIRE ASSOCIATED INCORPORATED

Service code 27

Advisory (Plan)

WILSHIRE ASSOCIATES INCORPORATED3+ years

Service code 27 · EIN 95-2755361

Advisory (Plan)

BFAIR 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BFAIR 403(B) 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