Retirement plan

BERKS PACKING TEAMSTERS 401(K) PLAN

Name: BERKS PACKING CO., INC. - BERKS PACKING TEAMSTERS 401(K) PLAN (2024) Form 5500
Creator: BERKS PACKING CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BERKS PACKING TEAMSTERS 401(K) PLAN, BERKS PACKING CO., INC.

BERKS PACKING CO., INC.EIN 23-0404560Plan #003PY 2024

PO BOX 5919 - READING, PA 19610610-376-7291berksfoods.comLinkedIn51-200 employeesfood production

Other plans on this EIN

2 filings

#002Retirement-$9.4M assets #004Retirement-$4.1M assets

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$980K

-15.3% from 2023

Total participants

+6.7% from 2023

Average account balance

$70,012

-15.3% from 2023

Annual return

-3.23%

-17.64 pp from 2023

Benchmarks

See 4,447 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort4,447 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$980K

Not enough data

1 years with asset history on file

Average account balance

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

$70K

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.

86.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$88K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

-3.23%

Not enough data

1 years with return on file

Admin fee / account holder

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

$16392

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

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 codes2F2G2J2T2E3D

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.
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

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.

Expense breakdown

Schedule H Part II

Admin total

$229K

$15299 / participant

Other / not subdivided$229K100.0%

% of EOY assets

23.413%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$70,012

$100,262-30.2%

$81,370-14.0%

$145,897-52.0%

Participation rate

86.7%

74.3%+12.4pp

69.5%+17.1pp

80.3%+6.4pp

Annual return

-3.23%

34.52%-37.7pp

24.85%-28.1pp

552.29%-555.5pp

Employer contribution / active EE

$3,981

$2,979+33.6%

$2,464+61.6%

$4,663-14.6%

Participant deferral / active EE

$1,872

$4,612-59.4%

$3,885-51.8%

$6,689-72.0%

Admin fee / account holder

$16,392

$8,163+100.8%

$5,749+185.1%

$13,390+22.4%

BERKS PACKING TEAMSTERS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BERKS PACKING TEAMSTERS 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