Retirement plan

PROVEN BRANDS, INC. 401(K) PLAN

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

PROVEN BRANDS, INC.EIN 47-1354232Plan #001PY 2023

221 RIVER STREET 12TH FLOOR - HOBOKEN, NJ 07030516-587-5704

Prospect flagsLow assets / participantRecently reached 100 employeesLow fidelity bond

How to read this page

Total assets (EOY)

$1M

+65.8% from 2022

Total participants

193

+63.6% from 2022

Average account balance

$5,422

-48.5% from 2022

Annual return

26.83%

+46.12 pp from 2022

Benchmarks

See 9,211 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,211 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$680K

Not enough data

1 years with asset history on file

Average account balance

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

$5K

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.

126

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.

83.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+8.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

$158

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

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E3D2G2J2F2T

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.
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

3 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$256

$5 / participant

Other / not subdivided$256100.0%

% of EOY assets

0.025%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$5,422

$91,537-94.1%

$130,045-95.8%

$75,173-92.8%

Participation rate

94.0%

71.5%+22.5pp

78.5%+15.5pp

67.2%+26.8pp

Annual return

26.83%

-631.55%+658.4pp

-137.30%+164.1pp

160.72%-133.9pp

Employer contribution / active EE

$4,842

$2,845+70.2%

$4,321+12.1%

$2,671+81.3%

Participant deferral / active EE

$4,343-100.0%

$5,820-100.0%

$4,126-100.0%

Admin fee / account holder

$6,780-100.0%

$10,600-100.0%

$5,651-100.0%

PROVEN BRANDS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PROVEN BRANDS, INC. 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