Retirement plan

THE BEVERAGE WORKS 401(K) PLAN

Name: THE BEVERAGE WORKS NEW YORK, INC. - THE BEVERAGE WORKS 401(K) PLAN (2022) Form 5500
Creator: THE BEVERAGE WORKS NEW YORK, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE BEVERAGE WORKS 401(K) PLAN, THE BEVERAGE WORKS NEW YORK, INC.

THE BEVERAGE WORKS NEW YORK, INC.EIN 22-3715225Plan #004PY 2022

1800 ROUTE 34 NORTH - WALL, NJ 07719732-938-7600LinkedIn51-200 employeesfood production

Other plans on this EIN

1 filing

#005Retirement-$736K assets

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$4.6M

-6.3% from 2021

Total participants

133

+24.3% from 2021

Average account balance

$46,384

-7.3% from 2021

Annual return

-16.41%

-30.57 pp from 2021

Benchmarks

See 936 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort936 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.09M

Not enough data

1 years with asset history on file

Average account balance

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

$11K

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.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$397K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+6.13%

Not enough data

1 years with return on file

Admin fee / account holder

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

$847

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 3 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH1 year Filed as: MERRILL LYNCH Service code 27 1400 AMERICAN BLVD, BLDG 4 · PENNINGTON, NJ 08534	Advisory (Plan)	$10,587
RED BANK PENSION SERVICES, INC.1 year Service code 13 · EIN 22-2755716 1161 BRAOD STREET · SHREWSBURY, NJ 07702	Contract Administrator	$1,593
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INS CO OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$584

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

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

$29K

$284 / participant

Other / not subdivided$29K100.0%

% of EOY assets

0.630%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CITRIN COOPERMAN & COMPANY, LLC
Auditor EIN: 222428965
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$46,384

$50,199-7.6%

$69,890-33.6%

$66,949-30.7%

Participation rate

66.7%

66.3%+0.3pp

70.5%-3.8pp

69.8%-3.2pp

Annual return

-16.41%

-13.85%-2.6pp

190.84%-207.2pp

1.57%-18.0pp

Employer contribution / active EE

$2,707

$1,864+45.2%

$2,560+5.7%

$2,545+6.3%

Participant deferral / active EE

$3,097

$3,112-0.5%

$3,848-19.5%

$4,239-26.9%

Admin fee / account holder

$292

$600-51.3%

$6,267-95.3%

$594-50.8%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH1 year

Filed as: MERRILL LYNCH

Service code 27

1400 AMERICAN BLVD, BLDG 4 · PENNINGTON, NJ 08534

Advisory (Plan)

$10,587

RED BANK PENSION SERVICES, INC.1 year

Service code 13 · EIN 22-2755716

1161 BRAOD STREET · SHREWSBURY, NJ 07702

Contract Administrator

$1,593

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INS CO OF AMERICA

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$584

THE BEVERAGE WORKS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE BEVERAGE WORKS 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