Retirement plan

BUSCO, INC. 401(K) PLAN AND TRUST

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

BUSCO, INC.EIN 47-0737571Plan #001PY 2023

4220 SOUTH 52 STREET - OMAHA, NE 68117402-371-3840

Prospect flagsHigh feesLow participationLow employer contributionCorrective distributions

Top hat statement on fileNQDC

Filed May 1, 2015 (most recent of 3 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$3.7M

+5.2% from 2022

Total participants

417

+3.2% from 2022

Average account balance

$26,586

+12.0% from 2022

Annual return

16.19%

+37.01 pp from 2022

Benchmarks

See 665 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants250-999

Cohort665 peers

Snapshot2023

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Analytics

Total assets (EOY)

Plan-year ending balance

$4.42M

Not enough data

1 years with asset history on file

Average account balance

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

$37K

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.

118

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.

27.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$551K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+19.86%

Not enough data

1 years with return on file

Admin fee / account holder

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

$420

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
NATIONWIDE9+ years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$28,465
AMERIPRISE FINANCIAL SERVICES INC6 years Filed as: AMERIPRISE FINANCIAL SERVICES Service code 18 50082 AMERIPRISE FINANCIAL CTR · MINNEAPOLIS, MN 55474	Direct payment from the plan; Custodi...	$13,762
DEFINITI LLC1 year Service code 13 2201 TIMBERLOCH PLACE · THE WOODLANDS, TX 77380	Contract Administrator	$12,613
FIDUCIARY WISE, LLC5 years Service code 31 2487 S GILBERT · GILBERT, AZ 85295	Named fiduciary; Direct payment from ...	$5,600

Plan features & details

Pension benefit codes2A2E2F2H2J2K3D3H

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$47K

$128 / participant

Investment mgmt$41K88.5%
Contract admin$5K11.5%

% of EOY assets

1.245%

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: LUTZ & COMPANY
Auditor EIN: 470625816
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$26,586

$49,693-46.5%

$70,544-62.3%

$74,460-64.3%

Participation rate

24.4%

64.7%-40.3pp

68.4%-44.0pp

70.7%-46.4pp

Annual return

16.19%

21.22%-5.0pp

32.79%-16.6pp

34.38%-18.2pp

Employer contribution / active EE

$151

$1,773-91.5%

$2,976-94.9%

$2,638-94.3%

Participant deferral / active EE

$1,475

$3,376-56.3%

$4,568-67.7%

$4,530-67.4%

Admin fee / account holder

$331

$316+4.9%

$6,427-94.8%

$348-4.8%

Provider

Service type

Compensation

NATIONWIDE9+ years

Service code 15

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$28,465

AMERIPRISE FINANCIAL SERVICES INC6 years

Filed as: AMERIPRISE FINANCIAL SERVICES

Service code 18

50082 AMERIPRISE FINANCIAL CTR · MINNEAPOLIS, MN 55474

Direct payment from the plan; Custodi...

$13,762

DEFINITI LLC1 year

Service code 13

2201 TIMBERLOCH PLACE · THE WOODLANDS, TX 77380

Contract Administrator

$12,613

FIDUCIARY WISE, LLC5 years

Service code 31

2487 S GILBERT · GILBERT, AZ 85295

Named fiduciary; Direct payment from ...

$5,600

BUSCO, INC. 401(K) PLAN AND TRUST

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BUSCO, INC. 401(K) PLAN AND TRUST

Top hat statement on fileNQDC

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