Retirement plan

THE BURMAX COMPANY, INC. 401(K) PLAN

Name: THE BURMAX COMPANY, INC. - THE BURMAX COMPANY, INC. 401(K) PLAN (2019) Form 5500
Creator: THE BURMAX COMPANY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE BURMAX COMPANY, INC. 401(K) PLAN, THE BURMAX COMPANY, INC.

THE BURMAX COMPANY, INC.EIN 13-1972848Plan #001PY 2019

28 BARRETTS AVENUE - HOLTSVILLE, NY 11742631-447-8700burmax.comLinkedIn51-200 employeeswholesale

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$6.8M

+18.1% from 2018

Total participants

149

+0.7% from 2018

Average account balance

$69,010

+9.7% from 2018

Annual return

19.02%

+22.21 pp from 2018

Benchmarks

See 2,364 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,364 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.95M

Not enough data

1 years with asset history on file

Average account balance

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

$123K

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.

72.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$816K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+13.57%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1966

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

Top 5 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH1 year Service code 27 4800 DEER LAKE DR E FL 1 · JACKSONVILLE, FL 32246	Advisory (Plan)	$43,197
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: GREAT WEST LIFE & ANNUITY INSURANCE Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$12,111
ASSOCIATED PENSION CONSULTANTS2 years Filed as: ASSOCIATED PENSION CONSULTANTS, INC Service code 13	Contract Administrator	$4,620
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: ADVISED ASSETS GROUP Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$2,338
ASSOCIATED PENSION CONSULTANTS2 years Service code 13 111 EXPRESS STREET · PLAINVIEW, NY 11803	Contract Administrator	$1,520

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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$478 / participant

Contract admin$57K100.0%

% of EOY assets

0.839%

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: NUSSBAUM BERG KLEIN & WOLPOW, CPAS
Auditor EIN: 260221653
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$69,010

$86,332-20.1%

$125,180-44.9%

$65,185+5.9%

Participation rate

58.3%

75.3%-17.0pp

79.8%-21.4pp

70.2%-11.9pp

Annual return

19.02%

27.43%-8.4pp

43.79%-24.8pp

29.38%-10.4pp

Employer contribution / active EE

$1,794

$2,040-12.0%

$3,866-53.6%

$2,177-17.6%

Participant deferral / active EE

$3,724

$3,537+5.3%

$4,937-24.6%

$3,514+6.0%

Admin fee / account holder

$579

$609-4.9%

$9,703-94.0%

$847-31.6%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH1 year

Service code 27

4800 DEER LAKE DR E FL 1 · JACKSONVILLE, FL 32246

Advisory (Plan)

$43,197

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: GREAT WEST LIFE & ANNUITY INSURANCE

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$12,111

ASSOCIATED PENSION CONSULTANTS2 years

Filed as: ASSOCIATED PENSION CONSULTANTS, INC

Service code 13

Contract Administrator

$4,620

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: ADVISED ASSETS GROUP

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$2,338

ASSOCIATED PENSION CONSULTANTS2 years

Service code 13

111 EXPRESS STREET · PLAINVIEW, NY 11803

Contract Administrator

$1,520

THE BURMAX COMPANY, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE BURMAX 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