Retirement plan

SUPREME LOBSTER & SEAFOOD COMPANY PROFIT SHARING AND 401(K) PLAN

Name: SUPREME LOBSTER & SEAFOOD COMPANY - SUPREME LOBSTER & SEAFOOD COMPANY PROFIT SHARING AND 401(K) PLAN (2022) Form 5500
Creator: SUPREME LOBSTER & SEAFOOD COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SUPREME LOBSTER & SEAFOOD COMPANY PROFIT SHARING AND 401(K) PLAN, SUPREME LOBSTER & SEAFOOD COMPANY

SUPREME LOBSTER & SEAFOOD COMPANYEIN 36-2808995Plan #002PY 2022

220 E. NORTH AVENUE - VILLA PARK, IL 601811221630-832-6700supremelobster.comLinkedIn201-500 employeeswholesale

Prospect flagsLow returnsHigh feesLow participationLow employer contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$7.6M

-21.1% from 2021

Total participants

139

-2.1% from 2021

Average account balance

$120,009

-17.4% from 2021

Annual return

-23.95%

-24.90 pp from 2021

Benchmarks

See 2,291 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,291 peers

Snapshot2022

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$12.46M

Not enough data

1 years with asset history on file

Average account balance

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

$227K

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.

36.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$397K

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

+14.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4679

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY3 years Filed as: MORGAN STANLEY Service code 27 · EIN 26-4310632	Advisory (Plan)	$40,429
ALLIANCE PENSION CONSULTANTS, LLC8+ years Service code 15 · EIN 36-4389114	Recordkeeping	$22,821
WIPFLI LLP6 years Filed as: WIPFLI, LLP Service code 10 · EIN 39-0758449	Accounting	$9,000
CHARLES SCHWAB & CO., INC.3 years Filed as: CHARLES SCHWAB TRUST BANK Service code 19 · EIN 82-3967259	Securities Custodian	$4,492
CHARLES SCHWAB & CO., INC.1 year Filed as: CHARLES SCHWAB & CO., INC Service code 59	Shareholder Servicing	$0
CHARLES SCHWAB & CO., INC.3 years Service code 18 · EIN 94-1737782	Shareholder servicing fees; Custodial...	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3H

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.
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

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$72K

$552 / participant

Investment mgmt$40K55.9%
Other / not subdivided$32K44.1%

% of EOY assets

0.956%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: CRAY KAISER LTD
Auditor EIN: 362746886
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$120,009

$86,655+38.5%

$119,609+0.3%

$66,914+79.3%

Participation rate

42.0%

75.6%-33.6pp

79.3%-37.3pp

69.8%-27.8pp

Annual return

-23.95%

-8.00%-16.0pp

-14.97%-9.0pp

1.58%-25.5pp

Employer contribution / active EE

$239

$2,536-90.6%

$4,232-94.4%

$2,544-90.6%

Participant deferral / active EE

$2,570

$4,358-41.0%

$5,602-54.1%

$4,237-39.3%

Admin fee / account holder

$1,147

$755+52.0%

$10,323-88.9%

$593+93.4%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY3 years

Filed as: MORGAN STANLEY

Service code 27 · EIN 26-4310632

Advisory (Plan)

$40,429

ALLIANCE PENSION CONSULTANTS, LLC8+ years

Service code 15 · EIN 36-4389114

Recordkeeping

$22,821

WIPFLI LLP6 years

Filed as: WIPFLI, LLP

Service code 10 · EIN 39-0758449

Accounting

$9,000

CHARLES SCHWAB & CO., INC.3 years

Filed as: CHARLES SCHWAB TRUST BANK

Service code 19 · EIN 82-3967259

Securities Custodian

$4,492

CHARLES SCHWAB & CO., INC.1 year

Filed as: CHARLES SCHWAB & CO., INC

Service code 59

Shareholder Servicing

CHARLES SCHWAB & CO., INC.3 years

Service code 18 · EIN 94-1737782

Shareholder servicing fees; Custodial...

SUPREME LOBSTER & SEAFOOD COMPANY PROFIT SHARING AND 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SUPREME LOBSTER & SEAFOOD COMPANY 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