Retirement plan

VIRGINIA DARE EXTRACT COMPANY, INC. 401(K) PLAN

Name: VIRGINIA DARE EXTRACT CO., INC. - VIRGINIA DARE EXTRACT COMPANY, INC. 401(K) PLAN (2021) Form 5500
Creator: VIRGINIA DARE EXTRACT CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VIRGINIA DARE EXTRACT COMPANY, INC. 401(K) PLAN, VIRGINIA DARE EXTRACT CO., INC.

VIRGINIA DARE EXTRACT CO., INC.EIN 11-0666590Plan #002PY 2021

882 THIRD AVENUE - BROOKLYN, NY 11232718-788-1776

Other plans on this EIN

1 filing

#001Retirement-$9.2M assets

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$27.6M

+13.9% from 2020

Total participants

172

-5.0% from 2020

Average account balance

$177,772

+9.5% from 2020

Annual return

11.56%

-3.30 pp from 2020

Benchmarks

See 946 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort946 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$33.17M

Not enough data

1 years with asset history on file

Average account balance

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

$196K

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.

169

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.

86.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.43M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+14.09%

Not enough data

1 years with return on file

Admin fee / account holder

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

$609

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 1 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY7+ years Filed as: JOHN HANCOCK LIFE INS CO OF NY Service code 15 · EIN 13-3646501	Recordkeeping	$2,117

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$84K

$535 / participant

Contract admin$84K100.0%

% of EOY assets

0.305%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BORIS BENIC & ASSOCIATES LLP
Auditor EIN: 542190047
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$177,772

$59,584+198.4%

$86,615+105.2%

$79,391+123.9%

Participation rate

89.2%

67.7%+21.5pp

71.6%+17.5pp

70.7%+18.5pp

Annual return

11.56%

23.15%-11.6pp

63.51%-51.9pp

116.88%-105.3pp

Employer contribution / active EE

$4,224

$1,768+138.9%

$2,496+69.2%

$2,428+74.0%

Participant deferral / active EE

$8,906

$3,036+193.3%

$3,699+140.8%

$4,046+120.1%

Admin fee / account holder

$541

$604-10.4%

$5,830-90.7%

$627-13.6%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY7+ years

Filed as: JOHN HANCOCK LIFE INS CO OF NY

Service code 15 · EIN 13-3646501

Recordkeeping

$2,117

VIRGINIA DARE EXTRACT COMPANY, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VIRGINIA DARE EXTRACT COMPANY, 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