Retirement plan

BERKSHIRE TRANSIT MANAGEMENT, INC. UNION 401(K) PLAN

Name: BERKSHIRE TRANSIT MANAGEMENT, INC. - BERKSHIRE TRANSIT MANAGEMENT, INC. UNION 401(K) PLAN (2022) Form 5500
Creator: BERKSHIRE TRANSIT MANAGEMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BERKSHIRE TRANSIT MANAGEMENT, INC. UNION 401(K) PLAN, BERKSHIRE TRANSIT MANAGEMENT, INC.

BERKSHIRE TRANSIT MANAGEMENT, INC.EIN 20-0405764Plan #017PY 2022

67 DOWNING PARKWAY - PITTSFIELD, MA 01201413-499-2782LinkedIn1-10 employeestransportation/trucking/railroad

Other plans on this EIN

3 filings

#014Retirement-$1.5M assets #015Retirement-$216K assets #016Retirement-$99K assets

Prospect flagsLow participationLow employer contribution

How to read this page

Total assets (EOY)

$984K

-11.0% from 2021

Total participants

+3.1% from 2021

Average account balance

$20,507

-9.2% from 2021

Annual return

-18.92%

-36.29 pp from 2021

Benchmarks

See 4,203 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants25-99

Cohort4,203 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.13M

Not enough data

1 years with asset history on file

Average account balance

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

$49K

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.

108.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$136K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+169.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2355

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

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2F2G2J3D3H

Plan features

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.
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.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$6K

$112 / participant

Other / not subdivided$6K100.0%

% of EOY assets

0.592%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$20,507

$48,235-57.5%

$68,803-70.2%

$68,490-70.1%

Participation rate

65.4%

60.7%+4.7pp

69.0%-3.6pp

67.9%-2.5pp

Annual return

-18.92%

-12.70%-6.2pp

-6.37%-12.6pp

-7.85%-11.1pp

Employer contribution / active EE

$1,829-100.0%

$2,656-100.0%

$2,597-100.0%

Participant deferral / active EE

$1,788

$2,867-37.6%

$3,942-54.6%

$4,028-55.6%

Admin fee / account holder

$121

$4,361-97.2%

$4,936-97.5%

$5,403-97.8%

BERKSHIRE TRANSIT MANAGEMENT, INC. UNION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BERKSHIRE TRANSIT MANAGEMENT, INC. UNION 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