Retirement plan

DROBNY FARMS, LLC 401(K) RETIREMENT PLAN

Name: DROBNY FARMS, LLC - DROBNY FARMS, LLC 401(K) RETIREMENT PLAN (2023) Form 5500
Creator: DROBNY FARMS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DROBNY FARMS, LLC 401(K) RETIREMENT PLAN, DROBNY FARMS, LLC

DROBNY FARMS, LLCEIN 26-1614031Plan #001PY 2023

4461 WOLF DRIVE - KALAMAZOO, MI 49009269-760-5854LinkedIn1-10 employeesfarming

Prospect flagsHigh feesLow employer contributionLow fidelity bond

How to read this page

Total assets (EOY)

$691K

+20.9% from 2022

Total participants

-26.7% from 2022

Average account balance

$62,833

+64.9% from 2022

Annual return

16.57%

+35.88 pp from 2022

Benchmarks

See 6,332 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants<25

Cohort6,332 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$959K

Not enough data

1 years with asset history on file

Average account balance

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

$74K

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.

92.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$36K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+17.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$77

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 codes2E2J2F2G3D3B3H2T

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$4K

$403 / participant

Other / not subdivided$4K100.0%

% of EOY assets

0.642%

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

$62,833

$141,001-55.4%

$112,228-44.0%

$139,487-55.0%

Participation rate

100.0%

79.2%+20.8pp

72.4%+27.6pp

80.3%+19.7pp

Annual return

16.57%

32.75%-16.2pp

30.23%-13.7pp

373.84%-357.3pp

Employer contribution / active EE

$675

$4,285-84.2%

$3,432-80.3%

$4,755-85.8%

Participant deferral / active EE

$1,964

$5,877-66.6%

$4,800-59.1%

$6,713-70.7%

Admin fee / account holder

$403

$9,959-96.0%

$7,752-94.8%

$11,407-96.5%

DROBNY FARMS, LLC 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DROBNY FARMS, LLC 401(K) RETIREMENT 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