Retirement plan

BARRE BELT 401(K) RETIREMENT PLAN & TRUST

Name: BARRE BELT - BARRE BELT 401(K) RETIREMENT PLAN & TRUST (2024) Form 5500
Creator: BARRE BELT
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BARRE BELT 401(K) RETIREMENT PLAN & TRUST, BARRE BELT

BARRE BELTEIN 22-3350494Plan #002PY 2024

105 N MAIN ST STE 302 - BARRE, VT 05641802-476-3291barretile.comLinkedIn1-10 employeeshealth, wellness and fitness

Prospect flagsHigh feesLow employer contribution

How to read this page

Total assets (EOY)

$9.8M

+14.0% from 2023

Total participants

167

+4.4% from 2023

Average account balance

$61,430

+2.5% from 2023

Annual return

16.79%

-4.26 pp from 2023

Benchmarks

See 268 peers

Peer group

Industry21 - Mining, Quarrying, and Oil and Gas Extraction

Plan typeDefined contribution

Participants100-249

Cohort268 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.77M

Not enough data

1 years with asset history on file

Average account balance

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

$61K

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.

159

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.

94.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$489K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+16.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$380

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 4 by compensation

Provider	Service type	Compensation
CPI QUALIFIED PLAN CONSULTANTS, INC10+ years Service code 15 · EIN 48-1205033	Recordkeeping	$23,829
OSAIC WEALTH INC2 years Filed as: OSAIC INSTITUTIONS, INC. Service code 27 538 PRESTON AVE · MERIDEN, CT 064504851	Advisory (Plan)	$14,232
MCSOLEY MCCOY & CO3 years Filed as: MCSOLEY MCCOY & CO. Service code 10 · EIN 03-0327374	Accounting	$13,741
NFP RETIREMENT INC2 years Filed as: NFP PROPERTY AND CASUALTY SERVICES Service code 13 1355 S CLEARVIEW AVENUE · MESA, AZ 85209	Contract Administrator	$5,619

Plan features & details

Pension benefit codes2E2F2G2J2K2T

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.

Opportunity flags

2 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$60K

$441 / participant

Recordkeeping$18K29.4%
Investment mgmt$14K23.5%
Legal$3500.6%
Contract admin$14K23.7%
Other / not subdivided$14K22.7%

% of EOY assets

0.619%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MCSOLEY MCCOY & CO.
Auditor EIN: 030327374
Audit fees: $13,742
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$61,430

$79,779-23.0%

$153,741-60.0%

$74,478-17.5%

Participation rate

94.2%

69.9%+24.2pp

77.1%+17.1pp

67.2%+26.9pp

Annual return

16.79%

15.08%+1.7pp

15.71%+1.1pp

1370.56%-1353.8pp

Employer contribution / active EE

$447

$4,026-88.9%

$5,042-91.1%

$2,626-83.0%

Participant deferral / active EE

$3,125

$5,329-41.4%

$6,757-53.7%

$4,350-28.2%

Admin fee / account holder

$380

$1,761-78.4%

$12,749-97.0%

$1,946-80.5%

Provider

Service type

Compensation

CPI QUALIFIED PLAN CONSULTANTS, INC10+ years

Service code 15 · EIN 48-1205033

Recordkeeping

$23,829

OSAIC WEALTH INC2 years

Filed as: OSAIC INSTITUTIONS, INC.

Service code 27

538 PRESTON AVE · MERIDEN, CT 064504851

Advisory (Plan)

$14,232

MCSOLEY MCCOY & CO3 years

Filed as: MCSOLEY MCCOY & CO.

Service code 10 · EIN 03-0327374

Accounting

$13,741

NFP RETIREMENT INC2 years

Filed as: NFP PROPERTY AND CASUALTY SERVICES

Service code 13

1355 S CLEARVIEW AVENUE · MESA, AZ 85209

Contract Administrator

$5,619

BARRE BELT 401(K) RETIREMENT PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BARRE BELT 401(K) RETIREMENT 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