Retirement plan

BERKS PACKING UFCW 401(K) PLAN

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

BERKS PACKING CO., INC.EIN 23-0404560Plan #004PY 2020

PO BOX 5919 - READING, PA 19602610-376-7291berksfoods.comLinkedIn51-200 employeesfood production

Other plans on this EIN

2 filings

#002Retirement-$8.3M assets #003Retirement-$1.4M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$3.2M

+14.6% from 2019

Total participants

101

+24.7% from 2019

Average account balance

$39,148

+11.8% from 2019

Annual return

14.24%

-5.03 pp from 2019

Benchmarks

See 2,371 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort2,371 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.69M

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

113

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.

98.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$491K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+16.71%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5268

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 codes2F2G2J2T3D2E

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

$363K

$4216 / participant

Other / not subdivided$363K100.0%

% of EOY assets

11.158%

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

$39,148

$63,082-37.9%

$81,726-52.1%

$79,856-51.0%

Participation rate

79.1%

67.5%+11.5pp

72.0%+7.1pp

69.6%+9.4pp

Annual return

14.24%

22.66%-8.4pp

29.49%-15.3pp

31.71%-17.5pp

Employer contribution / active EE

$2,836

$1,795+57.9%

$4,311-34.2%

$2,471+14.7%

Participant deferral / active EE

$1,385

$2,780-50.2%

$7,108-80.5%

$3,741-63.0%

Admin fee / account holder

$4,368

$4,428-1.4%

$5,160-15.3%

$5,306-17.7%

BERKS PACKING UFCW 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BERKS PACKING UFCW 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