Retirement plan

BYRNE DAIRY, INC. AND SONBYRNE SALES, INC. 401(K) PROFIT SHARING PLAN

Name: BYRNE DAIRY, INC. - BYRNE DAIRY, INC. AND SONBYRNE SALES, INC. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: BYRNE DAIRY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BYRNE DAIRY, INC. AND SONBYRNE SALES, INC. 401(K) PROFIT SHARING PLAN, BYRNE DAIRY, INC.

BYRNE DAIRY, INC.EIN 15-0258780Plan #005PY 2023

245 TEX SIMONE DRIVE - SYRACUSE, NY 13206315-475-2121LinkedIn11-50 employeessupermarkets

Prospect flagsLow assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$33M

+22.7% from 2022

Total participants

2,388

+13.6% from 2022

Average account balance

$14,824

+11.9% from 2022

Annual return

15.74%

+28.43 pp from 2022

Benchmarks

See 78 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants1,000-4,999

Cohort78 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$38.29M

Not enough data

1 years with asset history on file

Average account balance

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

$17K

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.

2,211

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.

89.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.12M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+12.70%

Not enough data

1 years with return on file

Admin fee / account holder

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

$90

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
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 13 · EIN 06-1050034 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Contract Administrator	$114,557
HAZARD & SIEGEL INC2 years Filed as: HAZARD & SIEGEL ADVISORY SERVICES L Service code 27 · EIN 20-0032740 5793 WIDEWATERS PKWY · DEWITT, NY 13214	Advisory (Plan)	$34,302
WITHUMSMITH+BROWN, PC1 year Filed as: DERMODY BURKE & BROWN CPAS LLC Service code 10 443 N FRANKLIN ST · SYRACUSE, NY 13204	Accounting	$15,000

Plan features & details

Pension benefit codes2E2J2K2S2T3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$164K

$93 / participant

Investment mgmt$28K17.4%
Contract admin$135K82.5%
Other / not subdivided$1810.1%

% of EOY assets

0.497%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: DERMODY ,BURKE & BROWN CPAS,LLC
Auditor EIN: 010723685
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$14,824

$50,287-70.5%

$112,228-86.8%

$80,169-81.5%

Participation rate

90.9%

52.9%+38.0pp

72.4%+18.5pp

72.9%+18.0pp

Annual return

15.74%

19.72%-4.0pp

30.23%-14.5pp

40.39%-24.7pp

Employer contribution / active EE

$607

$1,211-49.9%

$3,432-82.3%

$2,978-79.6%

Participant deferral / active EE

$1,855

$2,265-18.1%

$4,800-61.4%

$5,016-63.0%

Admin fee / account holder

$74

$114-35.1%

$7,752-99.0%

$145-49.2%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 13 · EIN 06-1050034

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Contract Administrator

$114,557

HAZARD & SIEGEL INC2 years

Filed as: HAZARD & SIEGEL ADVISORY SERVICES L

Service code 27 · EIN 20-0032740

5793 WIDEWATERS PKWY · DEWITT, NY 13214

Advisory (Plan)

$34,302

WITHUMSMITH+BROWN, PC1 year

Filed as: DERMODY BURKE & BROWN CPAS LLC

Service code 10

443 N FRANKLIN ST · SYRACUSE, NY 13204

Accounting

$15,000

BYRNE DAIRY, INC. AND SONBYRNE SALES, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BYRNE DAIRY, INC. AND SONBYRNE SALES, 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