Retirement plan

FLYNN RESTAURANT GROUP 401(K) RETIREMENT PLAN

Name: FLYNN RESTAURANT GROUP LP - FLYNN RESTAURANT GROUP 401(K) RETIREMENT PLAN (2024) Form 5500
Creator: FLYNN RESTAURANT GROUP LP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FLYNN RESTAURANT GROUP 401(K) RETIREMENT PLAN, FLYNN RESTAURANT GROUP LP

FLYNN RESTAURANT GROUP LPEIN 45-1734458Plan #001PY 2024

6200 OAK TREE BLVD, SUITE 250 - INDEPENDENCE, OH 44131216-525-2775

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$118.5M

+17.5% from 2023

Total participants

25,164

+13.2% from 2023

Average account balance

$29,958

+5.8% from 2023

Annual return

16.29%

-2.52 pp from 2023

Benchmarks

See 50 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants>=10,000

Cohort50 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$118.54M

Not enough data

1 years with asset history on file

Average account balance

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

$30K

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.

3,957

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.

14.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$15.92M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$645

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

+16.29%

Not enough data

1 years with return on file

Admin fee / account holder

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

$98

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
PRINCIPAL LIFE INSURANCE COMPANY4 years Service code 13 · EIN 42-0127290	Contract Administrator	$321,605
WELLS FARGO BANK, N.A.2 years Filed as: WELLS FARGO CLEARING SERVICES LLC Service code 27 · EIN 34-1542819	Advisory (Plan)	$39,925
CIUNI & PANICHI, INC.5 years Filed as: CIUNI & PANICHI INC. Service code 10 · EIN 34-1322309	Accounting	$25,735

Plan features & details

Pension benefit codes2E2F2G2J2K2R2T3D3H

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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$387K

$16 / participant

Investment mgmt$40K10.3%
Contract admin$322K83.0%
Other / not subdivided$26K6.6%

% of EOY assets

0.327%

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: CIUNI & PANICHI, INC.
Auditor EIN: 341322309
Audit fees: $25,735
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$29,958

$47,385-36.8%

$56,054-46.6%

$106,408-71.8%

Participation rate

14.1%

33.2%-19.1pp

52.5%-38.4pp

69.9%-55.8pp

Annual return

16.29%

17.29%-1.0pp

1705.95%-1689.7pp

17.37%-1.1pp

Employer contribution / active EE

$107

$623-82.9%

$1,039-89.7%

$3,361-96.8%

Participant deferral / active EE

$539

$1,440-62.6%

$1,952-72.4%

$5,567-90.3%

Admin fee / account holder

$98

$78+25.3%

$2,822-96.5%

$79+23.6%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY4 years

Service code 13 · EIN 42-0127290

Contract Administrator

$321,605

WELLS FARGO BANK, N.A.2 years

Filed as: WELLS FARGO CLEARING SERVICES LLC

Service code 27 · EIN 34-1542819

Advisory (Plan)

$39,925

CIUNI & PANICHI, INC.5 years

Filed as: CIUNI & PANICHI INC.

Service code 10 · EIN 34-1322309

Accounting

$25,735

FLYNN RESTAURANT GROUP 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FLYNN RESTAURANT GROUP 401(K) RETIREMENT 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