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 (2023) 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 2023

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

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.7M

+57.8% from 2022

Total participants

+16.9% from 2022

Average account balance

$22,829

+35.0% from 2022

Annual return

33.62%

+33.62 pp from 2022

Benchmarks

See 5,247 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants25-99

Cohort5,247 peers

Snapshot2023

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

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

$45K

$797 / participant

Other / not subdivided$45K100.0%

% of EOY assets

2.571%

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

$22,829

$49,891-54.2%

$80,607-71.7%

$75,181-69.6%

Participation rate

100.0%

55.3%+44.7pp

67.0%+33.0pp

67.2%+32.8pp

Annual return

33.62%

34.67%-1.0pp

936.11%-902.5pp

160.69%-127.1pp

Employer contribution / active EE

$1,813

$1,698+6.7%

$2,724-33.5%

$2,671-32.1%

Participant deferral / active EE

$3,491

$2,991+16.7%

$4,448-21.5%

$4,126-15.4%

Admin fee / account holder

$587

$3,578-83.6%

$5,379-89.1%

$5,650-89.6%

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