Retirement plan

SOUTHERN LEGACY WAFFLES, LLC 401K PLAN

Name: SOUTHERN LEGACY WAFFLES, LLC - SOUTHERN LEGACY WAFFLES, LLC 401K PLAN (2024) Form 5500
Creator: SOUTHERN LEGACY WAFFLES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOUTHERN LEGACY WAFFLES, LLC 401K PLAN, SOUTHERN LEGACY WAFFLES, LLC

SOUTHERN LEGACY WAFFLES, LLCEIN 45-3618413Plan #001PY 2024

1021 CAMBRIDGE SQUARE - ALPHARETTA, GA 30004770-827-0665LinkedIn1-10 employeesrestaurants

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$17.2M

+27.9% from 2023

Total participants

605

-5.8% from 2023

Average account balance

$42,822

-7.5% from 2023

Annual return

20.13%

-2.91 pp from 2023

Benchmarks

See 938 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants250-999

Cohort938 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.17M

Not enough data

1 years with asset history on file

Average account balance

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

$43K

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.

401

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.

62.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.58M

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

+20.13%

Not enough data

1 years with return on file

Admin fee / account holder

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

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
PENSION ASSURANCE LLP10+ years Filed as: PENSION SERVICE COMPANY Service code 13 3060 MERCER UNIVERSITY DR. STE 200 · ATLANTA, GA 30341	Contract Administrator	$10,527
AMERICAN FUNDS6 years Filed as: CAPITAL GROUP RETIREMENT PLAN SERV Service code 64 6455 IRVINE CENTER DR. · IRVINE, CA 92618	Recordkeeping Fees	$1,000

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
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

1 tripped

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

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: RESJ, PC
Auditor EIN: 582647076
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$42,822

$29,569+44.8%

$56,077-23.6%

$77,714-44.9%

Participation rate

62.9%

32.6%+30.3pp

52.5%+10.4pp

70.6%-7.7pp

Annual return

20.13%

18.90%+1.2pp

1709.28%-1689.1pp

31.26%-11.1pp

Employer contribution / active EE

$1,239

$569+117.8%

$1,040+19.1%

$2,727-54.6%

Participant deferral / active EE

$1,638

$1,061+54.4%

$1,954-16.2%

$4,649-64.8%

Admin fee / account holder

$1,042-100.0%

$2,825-100.0%

$433-100.0%

Provider

Service type

Compensation

PENSION ASSURANCE LLP10+ years

Filed as: PENSION SERVICE COMPANY

Service code 13

3060 MERCER UNIVERSITY DR. STE 200 · ATLANTA, GA 30341

Contract Administrator

$10,527

AMERICAN FUNDS6 years

Filed as: CAPITAL GROUP RETIREMENT PLAN SERV

Service code 64

6455 IRVINE CENTER DR. · IRVINE, CA 92618

Recordkeeping Fees

$1,000

SOUTHERN LEGACY WAFFLES, LLC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

SOUTHERN LEGACY WAFFLES, LLC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion