Retirement plan

MILLENNIAL RESTAURANT GROUP 401(K) RETIREMENT SAVINGS PLAN

Name: MILLENNIAL RESTAURANT GROUP, LLC - MILLENNIAL RESTAURANT GROUP 401(K) RETIREMENT SAVINGS PLAN (2022) Form 5500
Creator: MILLENNIAL RESTAURANT GROUP, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MILLENNIAL RESTAURANT GROUP 401(K) RETIREMENT SAVINGS PLAN, MILLENNIAL RESTAURANT GROUP, LLC

MILLENNIAL RESTAURANT GROUP, LLCEIN 46-3468053Plan #001PY 2022

10350 ORMSBY PARK PLACE SUITE 202 - LOUISVILLE, KY 40223502-612-0205LinkedIn51-200 employeesrestaurants

Prospect flagsLow returnsLow participationLow assets / participantLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$1.5M

-5.0% from 2021

Total participants

334

+11.7% from 2021

Average account balance

$10,998

-4.2% from 2021

Annual return

-18.98%

-30.48 pp from 2021

Benchmarks

See 1,277 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,277 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.33M

Not enough data

1 years with asset history on file

Average account balance

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

$18K

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.

130

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.

21.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$312K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$732

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

+11.32%

Not enough data

1 years with return on file

Admin fee / account holder

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

$289

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 6 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE4 years Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$23,782
BAIRD FUNDS2 years Filed as: ROBERT W BAIRD & CO INCORPORATED Service code 55 PO BOX 88499 · MILWAUKEE, WI 53288	Other Commissions	$5,433
MOUTJOY CHILTON MEDLEY LLP1 year Service code 10 2600 MEIDINGER TOWER 462 S 4TH ST · LOUISVILLE, KY 40202	Accounting	$3,965
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: ADVISED ASSETS GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$1,223
JOHN HANCOCK LIFE INSURANCE COMPANY1 year Service code 15 · EIN 01-0233346	Recordkeeping	$182
WILSHIRE ASSOCIATES INCORPORATED1 year Filed as: WILSHIRE ASSOCIATES INC (USA) Service code 26 · EIN 95-2755361 1299 OCEAN AVENUE · SANTA MONICA, CA 90401	Advisory (Participants)	$162

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
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.

Opportunity flags

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return 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.
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

$38K

$134 / participant

Investment mgmt$1K3.7%
Contract admin$36K95.4%
Other / not subdivided$3641.0%

% of EOY assets

2.612%

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: MONROE SHINE & CO. INC.
Auditor EIN: 351515068
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$10,998

$42,367-74.0%

$79,580-86.2%

$64,819-83.0%

Participation rate

28.9%

64.7%-35.9pp

69.5%-40.6pp

71.5%-42.6pp

Annual return

-18.98%

-12.23%-6.7pp

0.15%-19.1pp

32.84%-51.8pp

Employer contribution / active EE

$321

$1,181-72.8%

$2,413-86.7%

$2,507-87.2%

Participant deferral / active EE

$785

$3,170-75.2%

$3,985-80.3%

$4,311-81.8%

Admin fee / account holder

$287

$160+80.0%

$6,835-95.8%

$188+53.0%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE4 years

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$23,782

BAIRD FUNDS2 years

Filed as: ROBERT W BAIRD & CO INCORPORATED

Service code 55

PO BOX 88499 · MILWAUKEE, WI 53288

Other Commissions

$5,433

MOUTJOY CHILTON MEDLEY LLP1 year

Service code 10

2600 MEIDINGER TOWER 462 S 4TH ST · LOUISVILLE, KY 40202

Accounting

$3,965

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: ADVISED ASSETS GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$1,223

JOHN HANCOCK LIFE INSURANCE COMPANY1 year

Service code 15 · EIN 01-0233346

Recordkeeping

$182

WILSHIRE ASSOCIATES INCORPORATED1 year

Filed as: WILSHIRE ASSOCIATES INC (USA)

Service code 26 · EIN 95-2755361

1299 OCEAN AVENUE · SANTA MONICA, CA 90401

Advisory (Participants)

$162

MILLENNIAL RESTAURANT GROUP 401(K) RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MILLENNIAL RESTAURANT GROUP 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