Retirement plan

PROFIT SHARING/401(K) PLAN OF BANFI PRODUCTS CORPORATION AND AFFILIATED COMPANIES

Name: BANFI PRODUCTS CORPORATION - PROFIT SHARING/401(K) PLAN OF BANFI PRODUCTS CORPORATION AND AFFILIATED COMPANIES (2017) Form 5500
Creator: BANFI PRODUCTS CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PROFIT SHARING/401(K) PLAN OF BANFI PRODUCTS CORPORATION AND AFFILIATED COMPANIES, BANFI PRODUCTS CORPORATION

BANFI PRODUCTS CORPORATIONEIN 13-4941010Plan #004PY 2017

1111 CEDAR SWAMP ROAD - OLD BROOKVILLE, NY 11545516-626-9200banfi.comLinkedIn1-10 employees

Prospect flagsHigh assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$59.1M

+19.0% from 2016

Total participants

224

0.0% from 2016

Average account balance

$276,275

+17.4% from 2016

Annual return

15.34%

+10.27 pp from 2016

Benchmarks

See 2,371 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,371 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$22.23M

Not enough data

1 years with asset history on file

Average account balance

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

$271K

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.

190.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.01M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$23K

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

+14.80%

Not enough data

1 years with return on file

Admin fee / account holder

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

$44092

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 2 by compensation

Provider	Service type	Compensation
PKF O'CONNOR DAVIES, LLP1 year Service code 10 · EIN 27-1728945	Accounting	$12,000
MERRILL LYNCH PIERCE FENNER & SMITH1 year Filed as: MERRILL LYNCH, PIERCE, FENNER AND Service code 15 · EIN 13-5674085	Recordkeeping	$1,225

Plan features & details

Pension benefit codes2E2F2G2J2K

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.

Opportunity flags

2 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$13K

$75 / participant

Other / not subdivided$13K100.0%

% of EOY assets

0.022%

all-in expense ratio

Categories reported

0 / 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: PKF O'CONNOR DAVIES, LLP
Auditor EIN: 271728945
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$276,275

$71,192+288.1%

$117,861+134.4%

$62,293+343.5%

Participation rate

94.3%

74.2%+20.1pp

79.7%+14.7pp

69.5%+24.8pp

Annual return

15.34%

18.66%-3.3pp

335.11%-319.8pp

28.90%-13.6pp

Employer contribution / active EE

$10,525

$1,934+444.3%

$3,786+178.0%

$2,042+415.4%

Participant deferral / active EE

$8,566

$3,189+168.6%

$4,482+91.1%

$3,169+170.3%

Admin fee / account holder

$62

$587-89.5%

$8,021-99.2%

$479-87.1%

Provider

Service type

Compensation

PKF O'CONNOR DAVIES, LLP1 year

Service code 10 · EIN 27-1728945

Accounting

$12,000

MERRILL LYNCH PIERCE FENNER & SMITH1 year

Filed as: MERRILL LYNCH, PIERCE, FENNER AND

Service code 15 · EIN 13-5674085

Recordkeeping

$1,225

PROFIT SHARING/401(K) PLAN OF BANFI PRODUCTS CORPORATION AND AFFILIATED COMPANIES

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PROFIT SHARING/401(K) PLAN OF BANFI PRODUCTS CORPORATION AND AFFILIATED COMPANIES

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