Retirement plan

SALVATORE PROPERTIES, LLC PROFIT SHARING AND 401(K) PLAN

Name: SALVATORE PROPERTIES, LLC - SALVATORE PROPERTIES, LLC PROFIT SHARING AND 401(K) PLAN (2022) Form 5500
Creator: SALVATORE PROPERTIES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SALVATORE PROPERTIES, LLC PROFIT SHARING AND 401(K) PLAN, SALVATORE PROPERTIES, LLC

SALVATORE PROPERTIES, LLCEIN 26-3154235Plan #001PY 2022

6675 TRANSIT ROAD - WILLIAMSVILLE, NY 14221716-636-4900LinkedIn51-200 employeeshospitality

Prospect flagsLow fidelity bondFailed to transmit contributions

How to read this page

Total assets (EOY)

$1.1M

-4.7% from 2021

Total participants

-19.5% from 2021

Average account balance

$13,911

+36.8% from 2021

Annual return

-13.15%

-27.13 pp from 2021

Benchmarks

See 4,972 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants25-99

Cohort4,972 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.59M

Not enough data

1 years with asset history on file

Average account balance

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

$20K

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.

105.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$175K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+8.52%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1264

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

Top 3 by compensation

Provider	Service type	Compensation
ALERUS FINANCIAL, N.A.2 years Service code 15 · EIN 45-6062081	Recordkeeping	$12,616
BAM ADVISOR SERVICES1 year Service code 26 · EIN 20-8307105	Advisory (Participants)	$3,256
CHARLES SCHWAB & CO., INC.1 year Filed as: CHARLES SCHWAB BANK Service code 19 · EIN 82-3967259	Securities Custodian	$180

Plan features & details

Pension benefit codes2E2F2G2J2T3B3D

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.

Opportunity flags

2 tripped

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$16K

$191 / participant

Investment mgmt$3K20.5%
Other / not subdivided$13K79.5%

% of EOY assets

1.463%

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: JEFFREY L. OFFHAUS CPA, LLC
Auditor EIN: 202368569
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$13,911

$27,639-49.7%

$61,501-77.4%

$68,490-79.7%

Participation rate

79.5%

39.5%+40.0pp

52.6%+26.9pp

67.9%+11.6pp

Annual return

-13.15%

-13.19%0pp

339.04%-352.2pp

-7.85%-5.3pp

Employer contribution / active EE

$1,139

$696+63.6%

$1,160-1.8%

$2,597-56.1%

Participant deferral / active EE

$1,633

$1,264+29.2%

$2,125-23.1%

$4,028-59.5%

Admin fee / account holder

$203

$2,012-89.9%

$2,132-90.5%

$5,403-96.2%

Provider

Service type

Compensation

ALERUS FINANCIAL, N.A.2 years

Service code 15 · EIN 45-6062081

Recordkeeping

$12,616

BAM ADVISOR SERVICES1 year

Service code 26 · EIN 20-8307105

Advisory (Participants)

$3,256

CHARLES SCHWAB & CO., INC.1 year

Filed as: CHARLES SCHWAB BANK

Service code 19 · EIN 82-3967259

Securities Custodian

$180

SALVATORE PROPERTIES, LLC PROFIT SHARING AND 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SALVATORE PROPERTIES, LLC PROFIT SHARING AND 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