Retirement plan

BIND-RITE SERVICES, INC. 401(K) PROFIT SHARING PLAN

Name: BIND-RITE SERVICES, INC. - BIND-RITE SERVICES, INC. 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: BIND-RITE SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BIND-RITE SERVICES, INC. 401(K) PROFIT SHARING PLAN, BIND-RITE SERVICES, INC.

BIND-RITE SERVICES, INC.EIN 22-2912912Plan #001PY 2020

16 HORIZON BOULEVARD - SOUTH HACKENSACK, NJ 07606201-440-5585bindrite.netLinkedIn51-200 employeesprinting

Prospect flagsLow participationLow employer contributionLow participant contribution

How to read this page

Total assets (EOY)

$6.9M

+24.5% from 2019

Total participants

209

+9.4% from 2019

Average account balance

$87,725

+24.5% from 2019

Annual return

20.51%

+1.14 pp from 2019

Benchmarks

See 1,894 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort1,894 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.88M

Not enough data

1 years with asset history on file

Average account balance

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

$125K

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.

34.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$394K

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

+19.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6464

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

Top 4 by compensation

Provider	Service type	Compensation
VOYA RETIREMENT INSURANCE & ANNUITY2 years Filed as: VOYA FINANCIAL ADVISORS Service code 99 · EIN 41-0945505	Other Fees	$7,096
PACE FIDUCIARY SERVICES LLC2 years Service code 99 · EIN 82-3334300	Other Fees	$1,774
MORNINGSTAR2 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT Service code 26 · EIN 36-4317381	Advisory (Participants)	$1,115
VOYA RETIREMENT INSURANCE & ANNUITY2 years Filed as: VOYA RETIREMENT INSURANCE AND ANNUI Service code 26 · EIN 71-0294708	Advisory (Participants)	$49

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$9K

$55 / participant

Contract admin$6236.6%
Other / not subdivided$9K93.4%

% of EOY assets

0.137%

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: CARON & BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$87,725

$70,917+23.7%

$98,920-11.3%

$73,493+19.4%

Participation rate

24.9%

73.8%-49.0pp

76.0%-51.2pp

70.7%-45.8pp

Annual return

20.51%

34.18%-13.7pp

196.47%-176.0pp

28.51%-8.0pp

Employer contribution / active EE

$73

$2,037-96.4%

$2,689-97.3%

$2,270-96.8%

Participant deferral / active EE

$1,473

$3,501-57.9%

$4,245-65.3%

$3,740-60.6%

Admin fee / account holder

$120

$535-77.5%

$6,643-98.2%

$513-76.6%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY2 years

Filed as: VOYA FINANCIAL ADVISORS

Service code 99 · EIN 41-0945505

Other Fees

$7,096

PACE FIDUCIARY SERVICES LLC2 years

Service code 99 · EIN 82-3334300

Other Fees

$1,774

MORNINGSTAR2 years

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT

Service code 26 · EIN 36-4317381

Advisory (Participants)

$1,115

VOYA RETIREMENT INSURANCE & ANNUITY2 years

Filed as: VOYA RETIREMENT INSURANCE AND ANNUI

Service code 26 · EIN 71-0294708

Advisory (Participants)

$49

BIND-RITE SERVICES, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BIND-RITE SERVICES, INC. 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