Retirement plan

BERKS PACKING TEAMSTERS 401(K) PLAN

Name: BERKS PACKING CO., INC. - BERKS PACKING TEAMSTERS 401(K) PLAN (2020) 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 2020

319 BINGAMAN STREET - READING, PA 19602610-376-7291berksfoods.comLinkedIn51-200 employeesfood production

Other plans on this EIN

2 filings

#002Retirement-$8.3M assets #004Retirement-$3.2M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.4M

+9.5% from 2019

Total participants

-6.7% from 2019

Average account balance

$102,826

+17.4% from 2019

Annual return

14.06%

-6.78 pp from 2019

Benchmarks

See 3,638 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort3,638 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.12M

Not enough data

1 years with asset history on file

Average account balance

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

$80K

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.

84.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$91K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+15.63%

Not enough data

1 years with return on file

Admin fee / account holder

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

$7500

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 codes2E2F2G2J2T3D

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

1 tripped

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

$137K

$9769 / participant

Other / not subdivided$137K100.0%

% of EOY assets

9.500%

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

$102,826

$105,960-3.0%

$81,726+25.8%

$158,982-35.3%

Participation rate

100.0%

75.6%+24.4pp

72.0%+28.0pp

82.0%+18.0pp

Annual return

14.06%

38.19%-24.1pp

29.49%-15.4pp

302.99%-288.9pp

Employer contribution / active EE

$4,089

$7,805-47.6%

$4,311-5.1%

$4,763-14.1%

Participant deferral / active EE

$1,428

$13,011-89.0%

$7,108-79.9%

$5,983-76.1%

Admin fee / account holder

$9,769

$8,494+15.0%

$5,160+89.3%

$11,252-13.2%

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