Retirement plan

THE BERN COMPANIES INC. RETIREMENT PLAN

Name: THE BERN COMPANIES, INC. - THE BERN COMPANIES INC. RETIREMENT PLAN (2023) Form 5500
Creator: THE BERN COMPANIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE BERN COMPANIES INC. RETIREMENT PLAN, THE BERN COMPANIES, INC.

THE BERN COMPANIES, INC.EIN 32-0064815Plan #001PY 2023

ONE UNIVERSITY PLAZA, SUITE 607 - HACKENSACK, NJ 076016233212-974-2210LinkedIn1-10 employees

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$932K

+28.1% from 2022

Total participants

0.0% from 2022

Average account balance

$84,702

-6.8% from 2022

Annual return

15.31%

+33.19 pp from 2022

Benchmarks

See 51,594 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort51,594 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.16M

Not enough data

1 years with asset history on file

Average account balance

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

$96K

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.

150.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$123K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+11.01%

Not enough data

1 years with return on file

Admin fee / account holder

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

$869

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 codes2E2F2G2J3D

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

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

$12K

$1658 / participant

Other / not subdivided$12K100.0%

% of EOY assets

1.246%

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

$84,702

$106,267-20.3%

$96,520-12.2%

$139,456-39.3%

Participation rate

100.0%

77.8%+22.2pp

74.3%+25.7pp

80.3%+19.7pp

Annual return

15.31%

38.45%-23.1pp

35.72%-20.4pp

373.45%-358.1pp

Employer contribution / active EE

$5,677

$4,105+38.3%

$3,739+51.8%

$4,753+19.4%

Participant deferral / active EE

$7,648

$5,454+40.2%

$4,879+56.8%

$6,711+14.0%

Admin fee / account holder

$1,055

$7,882-86.6%

$6,733-84.3%

$11,407-90.8%

THE BERN COMPANIES INC. RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE BERN COMPANIES INC. 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