Retirement plan

FALVEY LINEN SUPPLY, INC. 401(K) RETIREMENT PLAN

Name: FALVEY LINEN SUPPLY, INC. - FALVEY LINEN SUPPLY, INC. 401(K) RETIREMENT PLAN (2024) Form 5500
Creator: FALVEY LINEN SUPPLY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FALVEY LINEN SUPPLY, INC. 401(K) RETIREMENT PLAN, FALVEY LINEN SUPPLY, INC.

FALVEY LINEN SUPPLY, INC.EIN 05-0137694Plan #001PY 2024

50 BURNHAM AVENUE - CRANSTON, RI 02910401-942-8900falveylinen.comLinkedIn201-500 employeesfacilities services

Prospect flagsLow returnsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$17.8M

+19.6% from 2023

Total participants

367

+15.8% from 2023

Average account balance

$73,823

+0.2% from 2023

Annual return

11.70%

-6.42 pp from 2023

Benchmarks

See 1,035 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants250-999

Cohort1,035 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.79M

Not enough data

1 years with asset history on file

Average account balance

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

$74K

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.

241

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.

60.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.02M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+11.70%

Not enough data

1 years with return on file

Admin fee / account holder

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

$139

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

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$24,556
LINCOLN NATIONAL CORPORATION1 year Filed as: LINCOLN RETIREMENT SERVICES COMPANY Service code 99 · EIN 35-0472300	Other Fees	$14,987
THE ANGELL PENSION GROUP, INC.10+ years Service code 13 · EIN 04-2530412 88 BOYD AVENUE · EAST PROVIDENCE, RI 02914	Contract Administrator	$12,065
COMMONWEALTH FINANCIAL NETWORK3 years Service code 27 29 SAWYER ROAD · WALTHAM, MA 024533483	Advisory (Plan)	$4,167

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D

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.
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.
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

3 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.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$33K

$106 / participant

Recordkeeping$27K80.9%
Investment mgmt$4K12.5%
Contract admin$2K6.6%

% of EOY assets

0.188%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: KAHN, LITWIN, RENZA & CO., LTD
Auditor EIN: 050409384
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$73,823

$65,960+11.9%

$81,882-9.8%

$77,762-5.1%

Participation rate

60.3%

65.8%-5.5pp

72.4%-12.1pp

70.6%-10.3pp

Annual return

11.70%

26.64%-14.9pp

779.47%-767.8pp

31.27%-19.6pp

Employer contribution / active EE

$4,896

$2,375+106.2%

$2,916+67.9%

$2,728+79.5%

Participant deferral / active EE

$1,478

$3,505-57.8%

$4,323-65.8%

$4,651-68.2%

Admin fee / account holder

$139

$526-73.6%

$7,360-98.1%

$433-67.9%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$24,556

LINCOLN NATIONAL CORPORATION1 year

Filed as: LINCOLN RETIREMENT SERVICES COMPANY

Service code 99 · EIN 35-0472300

Other Fees

$14,987

THE ANGELL PENSION GROUP, INC.10+ years

Service code 13 · EIN 04-2530412

88 BOYD AVENUE · EAST PROVIDENCE, RI 02914

Contract Administrator

$12,065

COMMONWEALTH FINANCIAL NETWORK3 years

Service code 27

29 SAWYER ROAD · WALTHAM, MA 024533483

Advisory (Plan)

$4,167

FALVEY LINEN SUPPLY, INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FALVEY LINEN SUPPLY, INC. 401(K) RETIREMENT 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