Retirement plan

SALARY SAVINGS PLAN FOR EMPLOYEES OF BORENSTEIN CATERERS, INC.

Name: BORENSTEIN CATERERS, INC. - SALARY SAVINGS PLAN FOR EMPLOYEES OF BORENSTEIN CATERERS, INC. (2024) Form 5500
Creator: BORENSTEIN CATERERS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SALARY SAVINGS PLAN FOR EMPLOYEES OF BORENSTEIN CATERERS, INC., BORENSTEIN CATERERS, INC.

BORENSTEIN CATERERS, INC.EIN 11-2230506Plan #003PY 2024

179-29 150TH ROAD - JAMAICA, NY 114345611718-656-3600bcelal.comLinkedIn1-10 employeesfood production

Other plans on this EIN

2 filings

#002Retirement-$367K assets #001Retirement--

Prospect flagsLow participationLow employer contribution

How to read this page

Total assets (EOY)

$548K

+22.2% from 2023

Total participants

+116.7% from 2023

Average account balance

$42,116

+12.8% from 2023

Annual return

12.84%

-0.51 pp from 2023

Benchmarks

See 23,845 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,845 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$548K

Not enough data

1 years with asset history on file

Average account balance

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

$42K

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.

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.

68.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$42K

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

+12.84%

Not enough data

1 years with return on file

Admin fee / account holder

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

$121

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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

2 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$2K

$83 / participant

Other / not subdivided$2K100.0%

% of EOY assets

0.286%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$42,116

$166,268-74.7%

$165,100-74.5%

$145,897-71.1%

Participation rate

31.6%

82.0%-50.4pp

78.6%-47.0pp

80.3%-48.7pp

Annual return

12.84%

100.52%-87.7pp

70.21%-57.4pp

552.29%-539.5pp

Employer contribution / active EE

$5,284-100.0%

$4,348-100.0%

$4,663-100.0%

Participant deferral / active EE

$2,206

$6,964-68.3%

$6,035-63.4%

$6,689-67.0%

Admin fee / account holder

$121

$16,659-99.3%

$12,696-99.0%

$13,390-99.1%

SALARY SAVINGS PLAN FOR EMPLOYEES OF BORENSTEIN CATERERS, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SALARY SAVINGS PLAN FOR EMPLOYEES OF BORENSTEIN CATERERS, INC.

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