Retirement plan

ACR RESTAURANTS, INC. 401(K) PROFIT SHARING PLAN

Name: ACR RESTAURANTS, INC. - ACR RESTAURANTS, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: ACR RESTAURANTS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ACR RESTAURANTS, INC. 401(K) PROFIT SHARING PLAN, ACR RESTAURANTS, INC.

ACR RESTAURANTS, INC.EIN 41-1614171Plan #001PY 2024

75 W. VIKING DRIVE, SUITE 201 - LITTLE CANADA, MN 55117651-631-3599

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$7M

+12.2% from 2023

Total participants

-30.6% from 2023

Average account balance

$95,177

+83.5% from 2023

Annual return

11.94%

-1.99 pp from 2023

Benchmarks

See 6,897 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants25-99

Cohort6,897 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$7.04M

Not enough data

1 years with asset history on file

Average account balance

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

$95K

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.

86.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$231K

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

+11.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$895

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

See the 10-year trajectory. $4.99 for your first month.

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE CO OF AM Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$25,288
SAGEVIEW ADVISORY GROUP, LLC3 years Filed as: SAGEVIEW ADVISORY GROUP Service code 27 1920 MAIN ST. STE. 800 · IRVINE, CA 92614	Advisory (Plan)	$13,907
NFP RETIREMENT INC3 years Filed as: NFP Service code 13 120 VANTIS STE 400 · ALISO VIEGO, CA 926562689	Contract Administrator	$6,891
NFP RETIREMENT INC3 years Filed as: NFP RETIREMENT, INC. Service code 13	Contract Administrator	$4,067

Plan features & details

Pension benefit codes2A2E2F2G2J2K2R2T2X3D3H

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$66K

$895 / participant

Investment mgmt$33K49.8%
Contract admin$27K40.4%
Other / not subdivided$6K9.8%

% of EOY assets

0.940%

all-in expense ratio

Categories reported

2 / 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: LETHERT, SKWIRA, SCHULTZ & CO. LLP
Auditor EIN: 410738189
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$95,177

$29,660+220.9%

$56,411+68.7%

$80,856+17.7%

Participation rate

86.5%

41.6%+44.8pp

52.5%+34.0pp

67.6%+18.8pp

Annual return

11.94%

35.23%-23.3pp

1701.33%-1689.4pp

35.59%-23.7pp

Employer contribution / active EE

$951

$669+42.0%

$1,039-8.5%

$2,755-65.5%

Participant deferral / active EE

$2,168

$1,226+76.8%

$1,952+11.1%

$4,296-49.5%

Admin fee / account holder

$895

$2,428-63.1%

$2,829-68.4%

$6,918-87.1%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE CO OF AM

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$25,288

SAGEVIEW ADVISORY GROUP, LLC3 years

Filed as: SAGEVIEW ADVISORY GROUP

Service code 27

1920 MAIN ST. STE. 800 · IRVINE, CA 92614

Advisory (Plan)

$13,907

NFP RETIREMENT INC3 years

Filed as: NFP

Service code 13

120 VANTIS STE 400 · ALISO VIEGO, CA 926562689

Contract Administrator

$6,891

NFP RETIREMENT INC3 years

Filed as: NFP RETIREMENT, INC.

Service code 13

Contract Administrator

$4,067

ACR RESTAURANTS, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ACR RESTAURANTS, INC. 401(K) PROFIT SHARING 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