Retirement plan

BOVA FOOD DISTRIBUTORS, INC. 401(K) PROFIT SHARING PLAN

Name: BOVA FOOD DISTRIBUTORS, INC. - BOVA FOOD DISTRIBUTORS, INC. 401(K) PROFIT SHARING PLAN (2021) Form 5500
Creator: BOVA FOOD DISTRIBUTORS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BOVA FOOD DISTRIBUTORS, INC. 401(K) PROFIT SHARING PLAN, BOVA FOOD DISTRIBUTORS, INC.

BOVA FOOD DISTRIBUTORS, INC.EIN 23-2148481Plan #001PY 2021

4365 COUNTY LINE RD - CHALFONT, PA 18914215-997-1130bovafoods.comLinkedIn51-200 employeesfood & beverages

Prospect flagsHigh feesRecently reached 100 employees

How to read this page

Total assets (EOY)

$7.5M

+21.1% from 2020

Total participants

128

+109.8% from 2020

Average account balance

$61,555

No prior year

Annual return

17.78%

+16.01 pp from 2020

Benchmarks

See 3,927 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants25-99

Cohort3,927 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.04M

Not enough data

1 years with asset history on file

Average account balance

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

$53K

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.

115

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.

88.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$339K

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

+7.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$395

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

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 codes2E2J2F2G3D

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.
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.)
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$41K

$576 / participant

Contract admin$41K100.0%

% of EOY assets

0.544%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CARON & BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$61,555

$39,036+57.7%

$80,784-23.8%

$85,851-28.3%

Participation rate

91.5%

41.6%+50.0pp

54.2%+37.4pp

69.3%+22.2pp

Annual return

17.78%

26.31%-8.5pp

87.31%-69.5pp

318.63%-300.9pp

Employer contribution / active EE

$3,602

$722+398.6%

$1,160+210.4%

$2,565+40.4%

Participant deferral / active EE

$1,853

$1,326+39.7%

$2,145-13.6%

$3,952-53.1%

Admin fee / account holder

$335

$2,429-86.2%

$3,380-90.1%

$6,261-94.6%

BOVA FOOD DISTRIBUTORS, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BOVA FOOD DISTRIBUTORS, INC. 401(K) PROFIT SHARING 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