Retirement plan

BERNER FOODS AND BEVERAGE, INC. PROFIT SHARING 401(K) PLAN

Name: BERNER FOODS AND BEVERAGE, INC. - BERNER FOODS AND BEVERAGE, INC. PROFIT SHARING 401(K) PLAN (2015) Form 5500
Creator: BERNER FOODS AND BEVERAGE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BERNER FOODS AND BEVERAGE, INC. PROFIT SHARING 401(K) PLAN, BERNER FOODS AND BEVERAGE, INC.

BERNER FOODS AND BEVERAGE, INC.EIN 36-2839626Plan #001PY 2015

2034 E FACTORY RD - DAKOTA, IL 61018815-563-4222bernerfoods.comLinkedIn501-1000 employeesfood production

Prospect flagsLow returnsHigh feesLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$7.5M

No prior year

Total participants

300

No prior year

Average account balance

$60,575

No prior year

Annual return

-2.77%

No prior year

Benchmarks

See 601 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort601 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.35M

Not enough data

1 years with asset history on file

Average account balance

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

$39K

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.

313

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.

35.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.77M

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

+10.20%

Not enough data

1 years with return on file

Admin fee / account holder

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

$309

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 3 by compensation

Provider	Service type	Compensation
SAVANT CAPITAL MANAGEMENT1+ years Filed as: SAVANT CAPITAL, LLC Service code 26 · EIN 45-3812777	Advisory (Participants)	$45,207
ASPIRE FINANCIAL SERVICES1+ years Service code 15 · EIN 27-1033755	Recordkeeping	$7,885
ASCENSUS LLC1+ years Filed as: DWC ERISA CONSULTANTS, LLC Service code 17 · EIN 26-2091417	Pension Consulting	$5,217

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$61K

$213 / participant

Investment mgmt$34K55.7%
Other / not subdivided$27K44.3%

% of EOY assets

0.807%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: RSM US LLP
Auditor EIN: 420714325
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$60,575

$48,277+25.5%

$63,244-4.2%

$55,191+9.8%

Participation rate

38.0%

69.4%-31.4pp

71.0%-33.0pp

69.2%-31.1pp

Annual return

-2.77%

2.37%-5.1pp

-70.31%+67.5pp

10.78%-13.5pp

Employer contribution / active EE

$495

$1,592-68.9%

$2,322-78.7%

$1,899-73.9%

Participant deferral / active EE

$1,499

$2,432-38.4%

$2,953-49.3%

$3,046-50.8%

Admin fee / account holder

$489

$86+468.5%

$5,893-91.7%

$91+438.4%

Provider

Service type

Compensation

SAVANT CAPITAL MANAGEMENT1+ years

Filed as: SAVANT CAPITAL, LLC

Service code 26 · EIN 45-3812777

Advisory (Participants)

$45,207

ASPIRE FINANCIAL SERVICES1+ years

Service code 15 · EIN 27-1033755

Recordkeeping

$7,885

ASCENSUS LLC1+ years

Filed as: DWC ERISA CONSULTANTS, LLC

Service code 17 · EIN 26-2091417

Pension Consulting

$5,217

BERNER FOODS AND BEVERAGE, INC. PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BERNER FOODS AND BEVERAGE, INC. PROFIT SHARING 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