Retirement plan

CUMBERLAND PACKING CORP. 401(K) PROFIT SHARING PLAN

Name: CUMBERLAND PACKING CORPORATION - CUMBERLAND PACKING CORP. 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: CUMBERLAND PACKING CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CUMBERLAND PACKING CORP. 401(K) PROFIT SHARING PLAN, CUMBERLAND PACKING CORPORATION

CUMBERLAND PACKING CORPORATIONEIN 11-2141348Plan #003PY 2022

20 CUMBERLAND ST. - BROOKLYN, NY 112051040718-858-4200cpack.comLinkedIn201-500 employeesfood & beverages

Other plans on this EIN

1 filing

#001Retirement-$2K assets

Prospect flagsLow returnsHigh feesHigh assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$46.8M

-17.4% from 2021

Total participants

186

-4.6% from 2021

Average account balance

$251,860

-13.8% from 2021

Annual return

-19.25%

-32.96 pp from 2021

Benchmarks

See 936 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort936 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$60.08M

Not enough data

1 years with asset history on file

Average account balance

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

$272K

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.

221

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.74M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$19K

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

+15.84%

Not enough data

1 years with return on file

Admin fee / account holder

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

$533

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
LAIKEN ASSOCIATES, INC.2 years Filed as: LAIKEN ASSOCIATES INC Service code 49 · EIN 13-1980835	Other Services	$25,058
MORNINGSTAR8+ years Service code 27 · EIN 36-3297908	Advisory (Plan)	$8,004

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3F3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

4 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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$108K

$785 / participant

Investment mgmt$108K100.0%

% of EOY assets

0.231%

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: LALLY & CO., LLC
Auditor EIN: 251846963
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$251,860

$50,199+401.7%

$69,890+260.4%

$66,949+276.2%

Participation rate

100.0%

66.3%+33.7pp

70.5%+29.5pp

69.8%+30.2pp

Annual return

-19.25%

-13.85%-5.4pp

190.84%-210.1pp

1.57%-20.8pp

Employer contribution / active EE

$6,930

$1,864+271.8%

$2,560+170.7%

$2,545+172.3%

Participant deferral / active EE

$11,886

$3,112+281.9%

$3,848+208.8%

$4,239+180.4%

Admin fee / account holder

$583

$600-2.9%

$6,267-90.7%

$594-1.9%

Provider

Service type

Compensation

LAIKEN ASSOCIATES, INC.2 years

Filed as: LAIKEN ASSOCIATES INC

Service code 49 · EIN 13-1980835

Other Services

$25,058

MORNINGSTAR8+ years

Service code 27 · EIN 36-3297908

Advisory (Plan)

$8,004

CUMBERLAND PACKING CORP. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CUMBERLAND PACKING CORP. 401(K) PROFIT SHARING 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