Retirement plan

ELITE FOOD SERVICE EQUIPMENT CO. INC. 401(K) PROFIT SHARING PLAN & TRUST

Name: ELITE FOOD SERVICE EQUIPMENT CO. INC. - ELITE FOOD SERVICE EQUIPMENT CO. INC. 401(K) PROFIT SHARING PLAN & TRUST (2024) Form 5500
Creator: ELITE FOOD SERVICE EQUIPMENT CO. INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ELITE FOOD SERVICE EQUIPMENT CO. INC. 401(K) PROFIT SHARING PLAN & TRUST, ELITE FOOD SERVICE EQUIPMENT CO. INC.

ELITE FOOD SERVICE EQUIPMENT CO. INC.EIN 11-3183405Plan #001PY 2024

1865 NEW HIGHWAY, SUITE 2 - FARMINGDALE, NY 11735631-420-9400

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$5M

+19.9% from 2023

Total participants

+2.1% from 2023

Average account balance

$135,518

+13.4% from 2023

Annual return

11.02%

-8.02 pp from 2023

Benchmarks

See 2,434 peers

Peer group

Industry45 - Retail Trade

Plan typeDefined contribution

Participants25-99

Cohort2,434 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.01M

Not enough data

1 years with asset history on file

Average account balance

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

$136K

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.

82.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$407K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+11.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1544

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 codes2E2J2F2G3D

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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$57K

$1270 / participant

Other / not subdivided$57K100.0%

% of EOY assets

1.139%

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

$135,518

$61,815+119.2%

$97,295+39.3%

$80,959+67.4%

Participation rate

75.6%

63.5%+12.1pp

72.7%+2.9pp

67.7%+7.9pp

Annual return

11.02%

-558.73%+569.7pp

75.62%-64.6pp

35.67%-24.7pp

Employer contribution / active EE

$1,940

$1,836+5.6%

$2,723-28.8%

$2,757-29.7%

Participant deferral / active EE

$7,096

$3,027+134.4%

$4,264+66.4%

$4,300+65.0%

Admin fee / account holder

$1,544

$5,166-70.1%

$5,646-72.7%

$6,925-77.7%

ELITE FOOD SERVICE EQUIPMENT CO. INC. 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ELITE FOOD SERVICE EQUIPMENT CO. INC. 401(K) PROFIT SHARING PLAN & TRUST

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