Retirement plan

WESTERN BEEF, INC. 401(K) PROFIT SHARING PLAN

Name: WESTERN BEEF RETAIL, INC - WESTERN BEEF, INC. 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: WESTERN BEEF RETAIL, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WESTERN BEEF, INC. 401(K) PROFIT SHARING PLAN, WESTERN BEEF RETAIL, INC

WESTERN BEEF RETAIL, INCEIN 11-2778081Plan #001PY 2020

47 05 METROPOLITAN AVENUE - RIDGEWOOD, NY 11385718-628-2444LinkedIn11-50 employeesretail

Prospect flagsLow returnsLow participationLow assets / participantLow employer contributionLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$25.8M

No prior year

Total participants

2,455

No prior year

Average account balance

$15,617

No prior year

Annual return

11.73%

No prior year

Benchmarks

See 348 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants1,000-4,999

Cohort348 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$28.47M

Not enough data

1 years with asset history on file

Average account balance

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

$37K

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.

769

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.

30.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.46M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$715

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

+11.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$79

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 3 by compensation

Provider	Service type	Compensation
NATIONWIDE1+ years Service code 37 · EIN 31-4177100 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Loan Processing	$126,845
PENTEGRA SERVICES, INC.1+ years Filed as: APS - PENTEGRA Service code 14 · EIN 13-3892096 6830 COMMERCE COURT DRIVE · BLACKLICK, OH 43004	Plan Administrator	$77,553
MORGAN STANLEY SMITH BARNEY1+ years Filed as: MORGAN STANLEY GLOBAL BANKING OPER Service code 22 ATTEN MIDDLE OFFICE BALTIMORE TEA · BALTIMORE, MD 21231	Insurance Broker	$33,880

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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

7 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 employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return 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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$238K

$125 / participant

Investment mgmt$220K92.5%
Other / not subdivided$18K7.5%

% of EOY assets

0.922%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: PLANCHEC(K) CPAS
Auditor EIN: 842614035
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$15,617

$43,466-64.1%

$90,970-82.8%

$90,274-82.7%

Participation rate

57.6%

62.5%-4.8pp

69.0%-11.4pp

73.4%-15.7pp

Annual return

11.73%

25.26%-13.5pp

134.58%-122.9pp

53.97%-42.2pp

Employer contribution / active EE

$48

$840-94.3%

$2,122-97.7%

$2,523-98.1%

Participant deferral / active EE

$647

$2,138-69.7%

$3,373-80.8%

$4,231-84.7%

Admin fee / account holder

$144

$92+56.8%

$5,960-97.6%

$114+26.3%

Provider

Service type

Compensation

NATIONWIDE1+ years

Service code 37 · EIN 31-4177100

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Loan Processing

$126,845

PENTEGRA SERVICES, INC.1+ years

Filed as: APS - PENTEGRA

Service code 14 · EIN 13-3892096

6830 COMMERCE COURT DRIVE · BLACKLICK, OH 43004

Plan Administrator

$77,553

MORGAN STANLEY SMITH BARNEY1+ years

Filed as: MORGAN STANLEY GLOBAL BANKING OPER

Service code 22

ATTEN MIDDLE OFFICE BALTIMORE TEA · BALTIMORE, MD 21231

Insurance Broker

$33,880

WESTERN BEEF, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WESTERN BEEF, INC. 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