Retirement plan

BUECHE'S FOOD WORLD, INC. 401(K) PLAN

Name: BUECHE'S FOOD WORLD, INC. - BUECHE'S FOOD WORLD, INC. 401(K) PLAN (2022) Form 5500
Creator: BUECHE'S FOOD WORLD, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BUECHE'S FOOD WORLD, INC. 401(K) PLAN, BUECHE'S FOOD WORLD, INC.

BUECHE'S FOOD WORLD, INC.EIN 38-1858840Plan #001PY 2022

300 W MAIN ST - FLUSHING, MI 48433810-659-6162buechesfoodworld.comLinkedIn51-200 employeesfood & beverages

Prospect flagsHigh feesLow participationLow employer contributionLow participant contribution

How to read this page

Total assets (EOY)

$2.8M

-16.7% from 2021

Total participants

-8.8% from 2021

Average account balance

$51,644

-13.7% from 2021

Annual return

-16.48%

-35.69 pp from 2021

Benchmarks

See 9,166 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,166 peers

Snapshot2022

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Analytics

Total assets (EOY)

Plan-year ending balance

$3.13M

Not enough data

1 years with asset history on file

Average account balance

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

$58K

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.

56.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$114K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+12.54%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5005

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY2 years Service code 13 · EIN 42-0127290	Contract Administrator	$15,626
PENSION PLAN SERVICES1 year Filed as: PENSION PLAN SERVICES INC Service code 13	Contract Administrator	$8,256
MASSACHUSETTS MUTUAL LIFE INS. CO.1 year Filed as: MML INSURANCE AGENCY LLC Service code 49 · EIN 04-3109325	Other Services	$6,046
PENSION PLAN SERVICES1 year Filed as: PENSION PLAN SERVICES INC. Service code 13 · EIN 38-2154774	Contract Administrator	$950
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MGMT LLC Service code 26 · EIN 36-4317381	Advisory (Participants)	$0

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.
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.
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

$17K

$210 / participant

Contract admin$17K100.0%

% of EOY assets

0.584%

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: JANZ & KNIGHT, PLC
Auditor EIN: 381458667
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$51,644

$81,900-36.9%

$119,609-56.8%

$68,494-24.6%

Participation rate

64.6%

71.9%-7.3pp

79.3%-14.7pp

67.9%-3.3pp

Annual return

-16.48%

-23.82%+7.3pp

-14.97%-1.5pp

-7.84%-8.6pp

Employer contribution / active EE

$206

$2,693-92.3%

$4,232-95.1%

$2,596-92.1%

Participant deferral / active EE

$1,302

$4,148-68.6%

$5,602-76.8%

$4,027-67.7%

Admin fee / account holder

$301

$6,582-95.4%

$10,323-97.1%

$5,403-94.4%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY2 years

Service code 13 · EIN 42-0127290

Contract Administrator

$15,626

PENSION PLAN SERVICES1 year

Filed as: PENSION PLAN SERVICES INC

Service code 13

Contract Administrator

$8,256

MASSACHUSETTS MUTUAL LIFE INS. CO.1 year

Filed as: MML INSURANCE AGENCY LLC

Service code 49 · EIN 04-3109325

Other Services

$6,046

PENSION PLAN SERVICES1 year

Filed as: PENSION PLAN SERVICES INC.

Service code 13 · EIN 38-2154774

Contract Administrator

$950

MORNINGSTAR1 year

Filed as: MORNINGSTAR INVESTMENT MGMT LLC

Service code 26 · EIN 36-4317381

Advisory (Participants)

BUECHE'S FOOD WORLD, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BUECHE'S FOOD WORLD, INC. 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