Retirement plan

WELCH FOODS, INC. & NATIONAL GRAPE CO-OPERATIVE ASSOC., INC. SAVINGS/SUPPLEMENTAL RETIREMENT PLAN

Name: WELCH FOODS INC., A COOPERATIVE - WELCH FOODS, INC. & NATIONAL GRAPE CO-OPERATIVE ASSOC., INC. SAVINGS/SUPPLEMENTAL RETIREMENT PLAN (2023) Form 5500
Creator: WELCH FOODS INC., A COOPERATIVE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WELCH FOODS, INC. & NATIONAL GRAPE CO-OPERATIVE ASSOC., INC. SAVINGS/SUPPLEMENTAL RETIREMENT PLAN, WELCH FOODS INC., A COOPERATIVE

WELCH FOODS INC., A COOPERATIVEEIN 16-0998906Plan #007PY 2023

300 BAKER AVE, SUITE 101 - CONCORD, MA 01742978-371-1000LinkedIn1001-5000 employeesfood production

Other plans on this EIN

2 filings

#006Retirement-$123.3M assets #008Retirement-$4.3M assets

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$108.1M

+6.3% from 2022

Total participants

532

+7.0% from 2022

Average account balance

$224,298

+6.3% from 2022

Annual return

9.65%

+24.93 pp from 2022

Benchmarks

See 755 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort755 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$125.25M

Not enough data

1 years with asset history on file

Average account balance

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

$228K

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.

549

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.

94.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$7.05M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$22K

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

+19.51%

Not enough data

1 years with return on file

Admin fee / account holder

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

$15

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

See the 9-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
T ROWE PRICE RPS INC8+ years Service code 15 100 EAST PRATT STREET · BALTIMORE, MD 21202	Recordkeeping	$45,920
FIDUCIENT ADVISORS LLC3 years Filed as: FIDUCIENT ADVISORS Service code 16 500 WEST MADISON STREET · CHICAGO, IL 60661	Consulting	$38,533
BOIVIN & ASSOCIATES7 years Filed as: BOIVIN & ASSOCIATES, CPAS, PLLC Service code 10 395 DANIEL WEBSTER HWY, UNIT 6 · MERRIMACK, NH 03054	Accounting	$10,500

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.

Opportunity flags

1 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$95K

$317 / participant

Other / not subdivided$95K100.0%

% of EOY assets

0.088%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BOIVIN & ASSOCIATES, CPAS, PLLC
Auditor EIN: 271516157
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$224,298

$69,823+221.2%

$77,163+190.7%

$74,419+201.4%

Participation rate

83.3%

70.0%+13.3pp

69.6%+13.8pp

70.7%+12.6pp

Annual return

9.65%

19.98%-10.3pp

37.87%-28.2pp

34.38%-24.7pp

Employer contribution / active EE

$8,576

$2,150+298.9%

$2,535+238.3%

$2,637+225.2%

Participant deferral / active EE

$13,131

$3,558+269.1%

$3,833+242.5%

$4,528+190.0%

Admin fee / account holder

$197

$398-50.5%

$5,472-96.4%

$348-43.4%

Provider

Service type

Compensation

T ROWE PRICE RPS INC8+ years

Service code 15

100 EAST PRATT STREET · BALTIMORE, MD 21202

Recordkeeping

$45,920

FIDUCIENT ADVISORS LLC3 years

Filed as: FIDUCIENT ADVISORS

Service code 16

500 WEST MADISON STREET · CHICAGO, IL 60661

Consulting

$38,533

BOIVIN & ASSOCIATES7 years

Filed as: BOIVIN & ASSOCIATES, CPAS, PLLC

Service code 10

395 DANIEL WEBSTER HWY, UNIT 6 · MERRIMACK, NH 03054

Accounting

$10,500

WELCH FOODS, INC. & NATIONAL GRAPE CO-OPERATIVE ASSOC., INC. SAVINGS/SUPPLEMENTAL RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WELCH FOODS, INC. & NATIONAL GRAPE CO-OPERATIVE ASSOC., INC. SAVINGS/SUPPLEMENTAL RETIREMENT 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