Retirement plan

THE WOLAK GROUP 401(K) PLAN

Name: SYRACUSE FOODSERVICE GROUP, INC. - THE WOLAK GROUP 401(K) PLAN (2024) Form 5500
Creator: SYRACUSE FOODSERVICE GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE WOLAK GROUP 401(K) PLAN, SYRACUSE FOODSERVICE GROUP, INC.

SYRACUSE FOODSERVICE GROUP, INC.EIN 16-1535756Plan #001PY 2024

65 GRAY ROAD BOX 4 - FALMOUTH, ME 04105207-797-7600

Prospect flagsLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$2.1M

+26.6% from 2023

Total participants

911

-3.1% from 2023

Average account balance

$10,445

+26.6% from 2023

Annual return

13.40%

-4.72 pp from 2023

Benchmarks

See 940 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants250-999

Cohort940 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.09M

Not enough data

1 years with asset history on file

Average account balance

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

$10K

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.

200

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.

16.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$480K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$561

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

+13.40%

Not enough data

1 years with return on file

Admin fee / account holder

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

$34

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 1 by compensation

Provider	Service type	Compensation
ADP BROKER-DEALER5 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745	Recordkeeping	$6,825

Plan features & details

Pension benefit codes2E2F2G2J2T3D3H

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.
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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$7K

$8 / participant

Recordkeeping$7K100.0%

% of EOY assets

0.327%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BDMP ASSURANCE , LLP
Auditor EIN: 994708358
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$10,445

$29,546-64.6%

$56,441-81.5%

$77,671-86.6%

Participation rate

16.8%

32.7%-15.8pp

52.5%-35.7pp

70.6%-53.7pp

Annual return

13.40%

19.01%-5.6pp

1704.21%-1690.8pp

31.21%-17.8pp

Employer contribution / active EE

$568-100.0%

$1,039-100.0%

$2,726-100.0%

Participant deferral / active EE

$561

$1,061-47.1%

$1,953-71.3%

$4,648-87.9%

Admin fee / account holder

$34

$1,046-96.7%

$2,829-98.8%

$430-92.1%

Provider

Service type

Compensation

ADP BROKER-DEALER5 years

Filed as: ADP, INC.

Service code 15 · EIN 13-3036745

Recordkeeping

$6,825

THE WOLAK GROUP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE WOLAK GROUP 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