Retirement plan

BERKS FIRE WATER RESTORATIONS, INC. 401(K) RETIREMENT AND PROFIT SHARING PLAN

Name: BERKS FIRE WATER RESTORATIONS, INC. - BERKS FIRE WATER RESTORATIONS, INC. 401(K) RETIREMENT AND PROFIT SHARING PLAN (2024) Form 5500
Creator: BERKS FIRE WATER RESTORATIONS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BERKS FIRE WATER RESTORATIONS, INC. 401(K) RETIREMENT AND PROFIT SHARING PLAN, BERKS FIRE WATER RESTORATIONS, INC.

BERKS FIRE WATER RESTORATIONS, INC.EIN 23-3048910Plan #001PY 2024

1145 COMMONS BLVD. - READING, PA 19605610-478-8660bfwrestorations.comLinkedIn51-200 employeesconsumer services

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$2.1M

+21.1% from 2023

Total participants

-6.6% from 2023

Average account balance

$29,582

+29.6% from 2023

Annual return

9.64%

-23.98 pp from 2023

Benchmarks

See 5,426 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants25-99

Cohort5,426 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.10M

Not enough data

1 years with asset history on file

Average account balance

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

$30K

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.

157.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$302K

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

+9.64%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1743

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

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

$124K

$2750 / participant

Other / not subdivided$124K100.0%

% of EOY assets

5.891%

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

$29,582

$57,057-48.2%

$85,009-65.2%

$80,874-63.4%

Participation rate

100.0%

56.4%+43.6pp

67.5%+32.5pp

67.6%+32.4pp

Annual return

9.64%

21.66%-12.0pp

66.47%-56.8pp

35.62%-26.0pp

Employer contribution / active EE

$2,128

$1,799+18.3%

$2,728-22.0%

$2,756-22.8%

Participant deferral / active EE

$4,584

$3,112+47.3%

$4,522+1.4%

$4,297+6.7%

Admin fee / account holder

$1,743

$4,986-65.0%

$6,153-71.7%

$6,935-74.9%

BERKS FIRE WATER RESTORATIONS, INC. 401(K) RETIREMENT AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BERKS FIRE WATER RESTORATIONS, INC. 401(K) RETIREMENT AND 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