Retirement plan

CLEVELAND BAKERS AND AFFILIATED UNIONS 401(K) PLAN

Name: CLEVELAND BAKERS & AFFILIATED UNIONS 401 (K) PLAN - CLEVELAND BAKERS AND AFFILIATED UNIONS 401(K) PLAN (2022) Form 5500
Creator: CLEVELAND BAKERS & AFFILIATED UNIONS 401 (K) PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CLEVELAND BAKERS AND AFFILIATED UNIONS 401(K) PLAN, CLEVELAND BAKERS & AFFILIATED UNIONS 401 (K) PLAN

CLEVELAND BAKERS & AFFILIATED UNIONS 401 (K) PLANEIN 34-0082405Plan #001PY 2022

9665 ROCKSIDE RD SUITE B - VALLEY VIEW, OH 441256233216-771-5386

Prospect flagsLow returnsHigh cashLow assets / participantLow employer contributionLow participant contribution

How to read this page

Total assets (EOY)

$6.6M

-5.2% from 2021

Total participants

1,801

+27.5% from 2021

Average account balance

$3,685

-26.5% from 2021

Annual return

-19.70%

-30.61 pp from 2021

Benchmarks

See 235 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort235 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.93M

Not enough data

1 years with asset history on file

Average account balance

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

$3K

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.

3,250

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.

66.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.09M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$632

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)

$92

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 5 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY1 year Filed as: JOHN HANCOCK RETIREMENT PLAN SVCS Service code 15 · EIN 01-0233346	Recordkeeping	$101,850
CADARET GRANT & CO INC1 year Filed as: CADARET, GRANT & COMPANY Service code 27 · EIN 22-2361254 1000 MADISON STREET · SYRACUSE, NY 13202	Advisory (Plan)	$50,207
GETTRY MARCUS CPA, P.C.1 year Filed as: GETTRY MARCUS CPA Service code 10 · EIN 13-3418879 88 FROEHLICH FARM BLVD · WOODBURY, NY 11797	Accounting	$20,000
MOGILA LAW GROUP1 year Filed as: MOGILA LAW GROUP LLC Service code 29 · EIN 87-2593727 5 PENN PLAZA, 23RD FLOOR · NEW YORK, NY 10001	Legal	$18,088
WB ADVISORS1 year Service code 13 · EIN 45-4840347 118 NORTH BEDFORD RD 100 SUITE · MOUNT KISCO, NY 10549	Contract Administrator	$17,796

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.

Opportunity flags

5 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$191K

$157 / participant

Investment mgmt$50K26.3%
Contract admin$18K9.3%
Other / not subdivided$123K64.3%

% of EOY assets

2.873%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: GETTRY MARCUS CPA, P.C.
Auditor EIN: 133418879
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$3,685

$61,756-94.0%

$70,098-94.7%

$77,906-95.3%

Participation rate

100.0%

79.9%+20.1pp

70.5%+29.5pp

73.7%+26.3pp

Annual return

-19.70%

-11.86%-7.8pp

190.76%-210.5pp

12.16%-31.9pp

Employer contribution / active EE

$429

$2,706-84.2%

$2,560-83.3%

$2,846-84.9%

Participant deferral / active EE

$872

$3,977-78.1%

$3,849-77.4%

$4,805-81.9%

Admin fee / account holder

$106

$101+4.5%

$6,266-98.3%

$133-20.1%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY1 year

Filed as: JOHN HANCOCK RETIREMENT PLAN SVCS

Service code 15 · EIN 01-0233346

Recordkeeping

$101,850

CADARET GRANT & CO INC1 year

Filed as: CADARET, GRANT & COMPANY

Service code 27 · EIN 22-2361254

1000 MADISON STREET · SYRACUSE, NY 13202

Advisory (Plan)

$50,207

GETTRY MARCUS CPA, P.C.1 year

Filed as: GETTRY MARCUS CPA

Service code 10 · EIN 13-3418879

88 FROEHLICH FARM BLVD · WOODBURY, NY 11797

Accounting

$20,000

MOGILA LAW GROUP1 year

Filed as: MOGILA LAW GROUP LLC

Service code 29 · EIN 87-2593727

5 PENN PLAZA, 23RD FLOOR · NEW YORK, NY 10001

Legal

$18,088

WB ADVISORS1 year

Service code 13 · EIN 45-4840347

118 NORTH BEDFORD RD 100 SUITE · MOUNT KISCO, NY 10549

Contract Administrator

$17,796

CLEVELAND BAKERS AND AFFILIATED UNIONS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CLEVELAND BAKERS AND AFFILIATED UNIONS 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