Retirement plan

RED BUD INDUSTRIES, INC. PROFIT SHARING PLAN

Name: RED BUD INDUSTRIES, INC. - RED BUD INDUSTRIES, INC. PROFIT SHARING PLAN (2023) Form 5500
Creator: RED BUD INDUSTRIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RED BUD INDUSTRIES, INC. PROFIT SHARING PLAN, RED BUD INDUSTRIES, INC.

RED BUD INDUSTRIES, INC.EIN 37-0904522Plan #002PY 2023

200 B AND E INDUSTRIAL DRIVE - RED BUD, IL 622782140618-282-3801redbudindustries.comLinkedIn51-200 employeesmachinery

Prospect flagsHigh fees

Top hat statement on fileNQDC

Filed January 2, 2018

Plan administrator

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200 B & E Industrial Drive

Red Bud State: IL Zip Code: 62278

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Plans declared (2)

Red Bud Industries, Inc. Deferred Compensation Plan6 emp
Craig Budde Deferred Compensation Agreement1 emp

Total covered: 7 employees

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Total assets (EOY)

$42.2M

+11.3% from 2022

Total participants

219

+6.3% from 2022

Average account balance

$227,056

+8.9% from 2022

Annual return

15.91%

+33.60 pp from 2022

Benchmarks

See 4,137 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,137 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$46.68M

Not enough data

1 years with asset history on file

Average account balance

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

$236K

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.

198

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.

81.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.75M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+13.03%

Not enough data

1 years with return on file

Admin fee / account holder

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

$531

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

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290	Contract Administrator	$90,919
CREATIVE PLANNING LLC2 years Filed as: CREATIVE PLANNING, INC. Service code 27 · EIN 43-1270780	Advisory (Plan)	$56,783

Plan features & details

Pension benefit codes2E2G2J2K2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.

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

$91K

$484 / participant

Contract admin$91K100.0%

% of EOY assets

0.215%

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: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$227,056

$76,112+198.3%

$96,544+135.2%

$71,529+217.4%

Participation rate

82.4%

74.4%+8.0pp

76.0%+6.5pp

67.9%+14.5pp

Annual return

15.91%

22.80%-6.9pp

25.88%-10.0pp

28.97%-13.1pp

Employer contribution / active EE

$5,587

$2,248+148.6%

$2,966+88.4%

$2,590+115.7%

Participant deferral / active EE

$8,125

$4,217+92.7%

$4,851+67.5%

$4,291+89.3%

Admin fee / account holder

$489

$2,708-82.0%

$8,254-94.1%

$1,588-69.2%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY9+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$90,919

CREATIVE PLANNING LLC2 years

Filed as: CREATIVE PLANNING, INC.

Service code 27 · EIN 43-1270780

Advisory (Plan)

$56,783

RED BUD INDUSTRIES, INC. PROFIT SHARING PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (2)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RED BUD INDUSTRIES, INC. PROFIT SHARING PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (2)

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