Retirement plan

GINSBERG'S INSTITUTIONAL FOODS, INC. 401(K) PLAN

Name: GINSBERG'S INSTITUTIONAL FOODS, INC. - GINSBERG'S INSTITUTIONAL FOODS, INC. 401(K) PLAN (2020) Form 5500
Creator: GINSBERG'S INSTITUTIONAL FOODS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GINSBERG'S INSTITUTIONAL FOODS, INC. 401(K) PLAN, GINSBERG'S INSTITUTIONAL FOODS, INC.

GINSBERG'S INSTITUTIONAL FOODS, INC.EIN 14-1547239Plan #002PY 2020

P.O. BOX 17 ROUTE 66 - HUDSON, NY 12534518-828-4004

Prospect flagsLow participation

Top hat statement on fileNQDC

Filed September 9, 2021

Plan administrator

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29 Ginsbergs Road

Hudson, NY 12534

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Plans declared (1)

NQDC Plan9 emp

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Total assets (EOY)

$12.5M

+7.0% from 2019

Total participants

302

-8.8% from 2019

Average account balance

$54,022

+16.2% from 2019

Annual return

11.91%

-17.89 pp from 2019

Benchmarks

See 881 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants100-249

Cohort881 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$16.08M

Not enough data

1 years with asset history on file

Average account balance

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

$68K

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.

236

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.

63.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.29M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+11.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
LPL FINANCIAL5 years Filed as: LPL FINANCIAL LLC Service code 27	Advisory (Plan)	$46,363
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Filed as: MASSMUTUAL RETIREMENT SERVICES,LLC Service code 15 · EIN 26-1589907	Recordkeeping	$600
LPL FINANCIAL6+ years Filed as: LPL FINANCIAL CORPORATION Service code 27 · EIN 95-2834236	Advisory (Plan)	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Filed as: MASSMUTUAL RETIREMENT SERVICES, LLC Service code 15	Recordkeeping	$0

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

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$600

$3 / participant

Other / not subdivided$600100.0%

% of EOY assets

0.005%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: KARP ACKERMAN SMALL & HOGAN CPAS
Auditor EIN: 141592927
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$54,022

$35,986+50.1%

$77,552-30.3%

$73,497-26.5%

Participation rate

66.3%

40.8%+25.5pp

54.2%+12.2pp

70.7%-4.3pp

Annual return

11.91%

19.26%-7.3pp

54.82%-42.9pp

28.51%-16.6pp

Employer contribution / active EE

$528

$557-5.2%

$987-46.5%

$2,270-76.7%

Participant deferral / active EE

$2,754

$1,198+129.9%

$1,861+48.0%

$3,740-26.4%

Admin fee / account holder

$466-99.4%

$2,859-99.9%

$513-99.5%

Provider

Service type

Compensation

LPL FINANCIAL5 years

Filed as: LPL FINANCIAL LLC

Service code 27

Advisory (Plan)

$46,363

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Filed as: MASSMUTUAL RETIREMENT SERVICES,LLC

Service code 15 · EIN 26-1589907

Recordkeeping

$600

LPL FINANCIAL6+ years

Filed as: LPL FINANCIAL CORPORATION

Service code 27 · EIN 95-2834236

Advisory (Plan)

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Filed as: MASSMUTUAL RETIREMENT SERVICES, LLC

Service code 15

Recordkeeping

GINSBERG'S INSTITUTIONAL FOODS, INC. 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GINSBERG'S INSTITUTIONAL FOODS, INC. 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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