Retirement plan

BFAIR 403(B) PLAN

Name: BERKSHIRE FAMILY AND INDIVIDUAL RESOURCES, INC. - BFAIR 403(B) PLAN (2024) 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 2024

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

Prospect flagsLow participationLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$3.2M

+14.2% from 2023

Total participants

260

+4.4% from 2023

Average account balance

$18,602

+10.2% from 2023

Annual return

12.20%

+3.18 pp from 2023

Benchmarks

See 2,318 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,318 peers

Snapshot2024

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 2 by compensation

Provider	Service type	Compensation
AMERICAN FUNDS6 years Filed as: CAPITAL GROUP RETIREMENT PLAN SERV Service code 64 6455 IRVINE CENTER DRIVE · IRVINE, CA 92618	Recordkeeping Fees	$17,594
LPL FINANCIAL2 years Filed as: LPL FINANCIAL, LLC Service code 99 PO BOX 502533 · SAN DIEGO, CA 92150	Other Fees	$13,364

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

3 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.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$30K

$159 / participant

Other / not subdivided$30K100.0%

% of EOY assets

0.963%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$18,602

$59,402-68.7%

$93,654-80.1%

$74,546-75.0%

Participation rate

53.1%

59.7%-6.5pp

68.7%-15.6pp

67.2%-14.1pp

Annual return

12.20%

81.86%-69.7pp

133.34%-121.1pp

1366.03%-1353.8pp

Employer contribution / active EE

$597

$1,265-52.8%

$2,421-75.3%

$2,624-77.2%

Participant deferral / active EE

$1,093

$3,049-64.1%

$4,413-75.2%

$4,347-74.9%

Admin fee / account holder

$179

$3,023-94.1%

$8,282-97.8%

$1,944-90.8%

Provider

Service type

Compensation

AMERICAN FUNDS6 years

Filed as: CAPITAL GROUP RETIREMENT PLAN SERV

Service code 64

6455 IRVINE CENTER DRIVE · IRVINE, CA 92618

Recordkeeping Fees

$17,594

LPL FINANCIAL2 years

Filed as: LPL FINANCIAL, LLC

Service code 99

PO BOX 502533 · SAN DIEGO, CA 92150

Other Fees

$13,364

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