Retirement plan

DETROIT BREWERS AND DISTRIBUTORS 401(K) PLAN AND TRUST AGREEMENT

Name: JOINT BOARD OF TRUSTEES - DETROIT BREWERS AND DISTRIBUTORS 401(K) PLAN AND TRUST AGREEMENT (2022) Form 5500
Creator: JOINT BOARD OF TRUSTEES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DETROIT BREWERS AND DISTRIBUTORS 401(K) PLAN AND TRUST AGREEMENT, JOINT BOARD OF TRUSTEES

JOINT BOARD OF TRUSTEESEIN 38-2094732Plan #002PY 2022

345 DIVERSION ROAD, SUITE 400 - ROCHESTER, MI 48307248-646-3939

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$37.3M

-20.8% from 2021

Total participants

442

+1.4% from 2021

Average account balance

$84,433

-21.8% from 2021

Annual return

-13.68%

-25.87 pp from 2021

Benchmarks

See 1,338 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants250-999

Cohort1,338 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$40.15M

Not enough data

1 years with asset history on file

Average account balance

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

$83K

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.

483

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.35M

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

+13.35%

Not enough data

1 years with return on file

Admin fee / account holder

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

$307

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
JOHN HANCOCK LIFE INSURANCE COMPANY7+ years Service code 15 PO BOX 600 · BUFFALO, NY 14201	Recordkeeping	$97,311
SECURE ASSET MANAGEMENT1 year Service code 26 · EIN 14-1996228	Advisory (Participants)	$39,073
BARCLAY PLANNING GROUP1 year Service code 15 345 DIVERSION STREET · ROCHESTER, MI 48307	Recordkeeping	$15,615

Plan features & details

Pension benefit codes2E2G2J2T2F

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.
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.

Opportunity flags

2 tripped

OpportunityLow participant contribution
Participant 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

$152K

$359 / participant

Investment mgmt$39K25.7%
Contract admin$112K73.7%
Other / not subdivided$8300.5%

% of EOY assets

0.407%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CARNAGHI & SCHWARK PLLC
Auditor EIN: 461506714
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$84,433

$71,142+18.7%

$119,622-29.4%

$64,819+30.3%

Participation rate

100.0%

78.6%+21.4pp

79.3%+20.7pp

71.5%+28.5pp

Annual return

-13.68%

-10.01%-3.7pp

-14.98%+1.3pp

32.84%-46.5pp

Employer contribution / active EE

$2,130

$2,497-14.7%

$4,232-49.7%

$2,507-15.0%

Participant deferral / active EE

$1,329

$4,490-70.4%

$5,601-76.3%

$4,311-69.2%

Admin fee / account holder

$344

$162+112.1%

$10,328-96.7%

$188+83.1%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY7+ years

Service code 15

PO BOX 600 · BUFFALO, NY 14201

Recordkeeping

$97,311

SECURE ASSET MANAGEMENT1 year

Service code 26 · EIN 14-1996228

Advisory (Participants)

$39,073

BARCLAY PLANNING GROUP1 year

Service code 15

345 DIVERSION STREET · ROCHESTER, MI 48307

Recordkeeping

$15,615

DETROIT BREWERS AND DISTRIBUTORS 401(K) PLAN AND TRUST AGREEMENT

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DETROIT BREWERS AND DISTRIBUTORS 401(K) PLAN AND TRUST AGREEMENT

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