Retirement plan

BELDING FRUIT STORGE EMPLOYEES 401(K) PROFIT SHARING PLAN AND TRUST

Name: BELDING FRUIT STORAGE, INC. - BELDING FRUIT STORGE EMPLOYEES 401(K) PROFIT SHARING PLAN AND TRUST (2022) Form 5500
Creator: BELDING FRUIT STORAGE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BELDING FRUIT STORGE EMPLOYEES 401(K) PROFIT SHARING PLAN AND TRUST, BELDING FRUIT STORAGE, INC.

BELDING FRUIT STORAGE, INC.EIN 38-1795561Plan #002PY 2022

11900 FISK RD - BELDING, MI 488099413616-794-0320LinkedIn1-10 employeesfood production

Prospect flagsHigh feesLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$1.1M

+62.5% from 2021

Total participants

+31.7% from 2021

Average account balance

$26,498

-10.6% from 2021

Annual return

33.39%

+0.47 pp from 2021

Benchmarks

See 9,164 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,164 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.55M

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

52.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$164K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+11.23%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8579

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 codes2E2G2F2J3D

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

3 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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$16K

$221 / participant

Other / not subdivided$16K100.0%

% of EOY assets

1.540%

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

$26,498

$81,870-67.6%

$119,608-77.8%

$68,495-61.3%

Participation rate

47.3%

71.9%-24.6pp

79.3%-32.0pp

67.9%-20.6pp

Annual return

33.39%

-23.82%+57.2pp

-14.98%+48.4pp

-7.84%+41.2pp

Employer contribution / active EE

$745

$2,692-72.3%

$4,232-82.4%

$2,596-71.3%

Participant deferral / active EE

$1,989

$4,148-52.0%

$5,601-64.5%

$4,028-50.6%

Admin fee / account holder

$408

$6,583-93.8%

$10,326-96.0%

$5,403-92.4%

BELDING FRUIT STORGE EMPLOYEES 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BELDING FRUIT STORGE EMPLOYEES 401(K) PROFIT SHARING PLAN AND TRUST

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