Retirement plan

BURGAFLEX NORTH AMERICA 401(K) RETIREMENT SAVINGS PLAN

Name: BURGAFLEX NORTH AMERICA, LLC - BURGAFLEX NORTH AMERICA 401(K) RETIREMENT SAVINGS PLAN (2024) Form 5500
Creator: BURGAFLEX NORTH AMERICA, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BURGAFLEX NORTH AMERICA 401(K) RETIREMENT SAVINGS PLAN, BURGAFLEX NORTH AMERICA, LLC

BURGAFLEX NORTH AMERICA, LLCEIN 38-3613953Plan #002PY 2024

1101 COPPER AVENUE - FENTON, MI 48430810-714-3285

Prospect flagsLow assets / participantLow employer contributionLow participant contributionLow fidelity bondCorrective distributions

How to read this page

Total assets (EOY)

$2.9M

+44.2% from 2023

Total participants

512

+33.7% from 2023

Average account balance

$5,817

+3.7% from 2023

Annual return

13.44%

-34.33 pp from 2023

Benchmarks

See 2,379 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,379 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.90M

Not enough data

1 years with asset history on file

Average account balance

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

$6K

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.

499

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.

95.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$787K

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

+13.44%

Not enough data

1 years with return on file

Admin fee / account holder

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

$63

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
VOYA RETIREMENT INSURANCE & ANNUITY6+ years Filed as: VOYA RETIRMENT INS AND ANNUITY CO Service code 64 · EIN 71-0294708	Recordkeeping Fees	$23,621
MBC RETIREMENT SERVICES, INC.5 years Service code 49 · EIN 38-3220894	Other Services	$8,006
EQUITABLE ADVISORS LLC1 year Filed as: EQUITABLE ADVISORS, LLC Service code 99 · EIN 13-4071393	Other Fees	$5,505

Plan features & details

Pension benefit codes2A2E2F2G2J2K2S2T3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

5 tripped

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.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$32K

$108 / participant

Contract admin$32K100.0%

% of EOY assets

1.090%

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: BDO USA, P.C.
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$5,817

$89,123-93.5%

$102,460-94.3%

$77,762-92.5%

Participation rate

95.5%

80.9%+14.6pp

76.5%+19.0pp

70.6%+25.0pp

Annual return

13.44%

25.05%-11.6pp

29.47%-16.0pp

31.27%-17.8pp

Employer contribution / active EE

$568

$2,700-79.0%

$3,025-81.2%

$2,728-79.2%

Participant deferral / active EE

$2,127

$5,148-58.7%

$5,056-57.9%

$4,651-54.3%

Admin fee / account holder

$63

$236-73.1%

$9,460-99.3%

$433-85.4%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY6+ years

Filed as: VOYA RETIRMENT INS AND ANNUITY CO

Service code 64 · EIN 71-0294708

Recordkeeping Fees

$23,621

MBC RETIREMENT SERVICES, INC.5 years

Service code 49 · EIN 38-3220894

Other Services

$8,006

EQUITABLE ADVISORS LLC1 year

Filed as: EQUITABLE ADVISORS, LLC

Service code 99 · EIN 13-4071393

Other Fees

$5,505

BURGAFLEX NORTH AMERICA 401(K) RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BURGAFLEX NORTH AMERICA 401(K) RETIREMENT SAVINGS 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