Retirement plan

THE BERNARD GROUP 401(K) PLAN

Name: THE BERNARD GROUP, INC. - THE BERNARD GROUP 401(K) PLAN (2023) Form 5500
Creator: THE BERNARD GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE BERNARD GROUP 401(K) PLAN, THE BERNARD GROUP, INC.

THE BERNARD GROUP, INC.EIN 41-1944077Plan #001PY 2023

19011 LAKE DRIVE EAST - CHANHASSEN, MN 553179322952-479-6072thebernardgroup.comLinkedIn501-1000 employeesmarketing and advertising

Other plans on this EIN

1 filing

#002Retirement-$116.4M assets

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$47.5M

+34.0% from 2022

Total participants

981

+6.9% from 2022

Average account balance

$68,010

+21.2% from 2022

Annual return

23.59%

+38.92 pp from 2022

Benchmarks

See 3,234 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,234 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$58.23M

Not enough data

1 years with asset history on file

Average account balance

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

$75K

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.

772

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.

73.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$7.27M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+15.36%

Not enough data

1 years with return on file

Admin fee / account holder

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

$140

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 2 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY3 years Service code 13 · EIN 42-0127290	Contract Administrator	$101,341
CHRISTENSEN GROUP FINANCIAL LLC2 years Filed as: CHRISTENSEN GROUP FINANCIAL, LLC Service code 27 · EIN 87-4130828	Advisory (Plan)	$25,000

Plan features & details

Pension benefit codes2E2F2G2J2R2T3D

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.
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.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$101K

$113 / participant

Contract admin$101K100.0%

% of EOY assets

0.213%

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: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$68,010

$95,369-28.7%

$135,942-50.0%

$74,440-8.6%

Participation rate

68.6%

78.2%-9.7pp

81.9%-13.4pp

70.7%-2.2pp

Annual return

23.59%

32.72%-9.1pp

68.28%-44.7pp

34.37%-10.8pp

Employer contribution / active EE

$2,336

$3,878-39.8%

$4,858-51.9%

$2,638-11.4%

Participant deferral / active EE

$5,052

$7,788-35.1%

$7,759-34.9%

$4,529+11.6%

Admin fee / account holder

$145

$266-45.5%

$10,764-98.7%

$348-58.3%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY3 years

Service code 13 · EIN 42-0127290

Contract Administrator

$101,341

CHRISTENSEN GROUP FINANCIAL LLC2 years

Filed as: CHRISTENSEN GROUP FINANCIAL, LLC

Service code 27 · EIN 87-4130828

Advisory (Plan)

$25,000

THE BERNARD GROUP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE BERNARD GROUP 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