Retirement plan

THE BERG GROUP, LLC 401(K) PROFIT SHARING PLAN

Name: BERG GROUP, LLC - THE BERG GROUP, LLC 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: BERG GROUP, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE BERG GROUP, LLC 401(K) PROFIT SHARING PLAN, BERG GROUP, LLC

BERG GROUP, LLCEIN 20-2184569Plan #001PY 2024

1225 LAKEVIEW DR - CHASKA, MN 553180000952-448-3130berggroup.usLinkedIn201-500 employeesconstruction

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$7.9M

+15.2% from 2023

Total participants

121

-13.6% from 2023

Average account balance

$81,851

+49.7% from 2023

Annual return

15.94%

-6.80 pp from 2023

Benchmarks

See 18,536 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,536 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.94M

Not enough data

1 years with asset history on file

Average account balance

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

$82K

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.

65.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$682K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+15.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$165

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

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 codes2E2F2G2J2R2T3B3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$16K

$232 / participant

Investment mgmt$16K100.0%

% of EOY assets

0.201%

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: BERGANKDV, LTD.
Auditor EIN: 411431613
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$81,851

$81,476+0.5%

$102,383-20.1%

$80,925+1.1%

Participation rate

65.2%

66.8%-1.6pp

74.5%-9.3pp

67.7%-2.4pp

Annual return

15.94%

25.59%-9.7pp

24.94%-9.0pp

35.65%-19.7pp

Employer contribution / active EE

$2,840

$3,105-8.5%

$3,870-26.6%

$2,756+3.0%

Participant deferral / active EE

$7,043

$3,871+81.9%

$5,060+39.2%

$4,299+63.8%

Admin fee / account holder

$165

$6,717-97.5%

$8,391-98.0%

$6,940-97.6%

THE BERG GROUP, LLC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE BERG GROUP, LLC 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