Retirement plan

NATURIPE BERRY GROWERS 401(K) PROFIT SHARING PLAN & TRUST

Name: NATURIPE BERRY GROWERS - NATURIPE BERRY GROWERS 401(K) PROFIT SHARING PLAN & TRUST (2023) Form 5500
Creator: NATURIPE BERRY GROWERS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NATURIPE BERRY GROWERS 401(K) PROFIT SHARING PLAN & TRUST, NATURIPE BERRY GROWERS

NATURIPE BERRY GROWERSEIN 20-5701910Plan #002PY 2023

1611 BUNKER HILL WAY, 2ND FLOOR - SALINAS, CA 93906831-840-3605

Prospect flagsLow returnsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$10.4M

+12.5% from 2022

Total participants

134

-4.3% from 2022

Average account balance

$80,375

-4.0% from 2022

Annual return

12.72%

+24.20 pp from 2022

Benchmarks

See 9,218 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,218 peers

Snapshot2023

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Analytics

Total assets (EOY)

Plan-year ending balance

$11.38M

Not enough data

1 years with asset history on file

Average account balance

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

$121K

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.

154.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$798K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+15.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5851

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH1 year Filed as: MERRILL LYNCH, PIERCE, FENNER Service code 13 · EIN 13-5674085 4 WORLD FINANCIAL CENTER · NEW YORK, NY 10281	Contract Administrator	$28,653
401K GENERATION2 years Service code 13 · EIN 26-4477125 195 INTERNATIONAL PARKWAY · LAKE MARY, FL 32746	Contract Administrator	$19,084
PAYCHEX, INC.1 year Service code 13 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625	Contract Administrator	$13,747

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$62K

$825 / participant

Trustee / custodial$4000.6%
Investment mgmt$29K46.3%
Contract admin$33K53.1%

% of EOY assets

0.597%

all-in expense ratio

Categories reported

3 / 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: MOSS ADAMS LLP
Auditor EIN: 910189318
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$80,375

$91,538-12.2%

$129,995-38.2%

$75,163+6.9%

Participation rate

93.3%

71.4%+21.9pp

78.5%+14.8pp

67.2%+26.1pp

Annual return

12.72%

-631.11%+643.8pp

-137.18%+149.9pp

160.62%-147.9pp

Employer contribution / active EE

$2,614

$2,845-8.1%

$4,320-39.5%

$2,670-2.1%

Participant deferral / active EE

$6,398

$4,341+47.4%

$5,820+9.9%

$4,125+55.1%

Admin fee / account holder

$480

$6,790-92.9%

$10,614-95.5%

$5,651-91.5%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH1 year

Filed as: MERRILL LYNCH, PIERCE, FENNER

Service code 13 · EIN 13-5674085

4 WORLD FINANCIAL CENTER · NEW YORK, NY 10281

Contract Administrator

$28,653

401K GENERATION2 years

Service code 13 · EIN 26-4477125

195 INTERNATIONAL PARKWAY · LAKE MARY, FL 32746

Contract Administrator

$19,084

PAYCHEX, INC.1 year

Service code 13 · EIN 16-1124166

911 PANORAMA TRAIL S · ROCHESTER, NY 14625

Contract Administrator

$13,747

NATURIPE BERRY GROWERS 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NATURIPE BERRY GROWERS 401(K) PROFIT SHARING PLAN & TRUST

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