Retirement plan

BEST SERVICES GROUP, INC. EMPLOYEE SAVINGS AND PROFIT SHARING PLAN

Name: BEST SERVICES GROUP, INC. - BEST SERVICES GROUP, INC. EMPLOYEE SAVINGS AND PROFIT SHARING PLAN (2023) Form 5500
Creator: BEST SERVICES GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BEST SERVICES GROUP, INC. EMPLOYEE SAVINGS AND PROFIT SHARING PLAN, BEST SERVICES GROUP, INC.

BEST SERVICES GROUP, INC.EIN 56-1963536Plan #001PY 2023

829 GRAVES STREET - KERNERSVILLE, NC 27284336-993-6339

Prospect flagsLow assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$14.9M

+33.9% from 2022

Total participants

1,478

+20.6% from 2022

Average account balance

$10,271

+8.7% from 2022

Annual return

22.03%

+37.57 pp from 2022

Benchmarks

See 665 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants250-999

Cohort665 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$16.18M

Not enough data

1 years with asset history on file

Average account balance

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

$15K

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.

1,104

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.

94.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.62M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+12.86%

Not enough data

1 years with return on file

Admin fee / account holder

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

$121

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

See the 10-year trajectory. $4.99 for your first month.

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
VOYA RETIREMENT INSURANCE & ANNUITY2 years Filed as: VOYA RETIREMENT INSURANCE AND ANNUI Service code 64 · EIN 71-0294708	Recordkeeping Fees	$52,084
M HOLDINGS SECURITIES INC2 years Service code 99 · EIN 91-1802259	Other Fees	$24,872
MVP PLAN ADMINISTRATORS, INC.1 year Service code 13 · EIN 56-2263714	Contract Administrator	$9,300
PLYBON & ASSOCIATES, INC.1 year Filed as: PLYBON Service code 13 · EIN 56-0863088	Contract Administrator	$9,000
BRESLOW STARLING FROST WARNER BOGER1 year Filed as: BRESLOW STARLING Service code 10 · EIN 56-0593053	Accounting	$8,172

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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 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

$79K

$114 / participant

Recordkeeping$52K66.3%
Contract admin$18K23.3%
Other / not subdivided$8K10.4%

% of EOY assets

0.526%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BRESLOW STARLING FORST WARNER BOGER
Auditor EIN: 560593053
Audit fees: $8,172
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$10,271

$49,693-79.3%

$70,515-85.4%

$74,419-86.2%

Participation rate

96.4%

64.7%+31.7pp

68.3%+28.0pp

70.7%+25.6pp

Annual return

22.03%

21.22%+0.8pp

32.77%-10.7pp

34.38%-12.3pp

Employer contribution / active EE

$878

$1,773-50.5%

$2,973-70.5%

$2,637-66.7%

Participant deferral / active EE

$3,107

$3,376-7.9%

$4,567-32.0%

$4,528-31.4%

Admin fee / account holder

$54

$316-82.9%

$6,412-99.2%

$348-84.5%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY2 years

Filed as: VOYA RETIREMENT INSURANCE AND ANNUI

Service code 64 · EIN 71-0294708

Recordkeeping Fees

$52,084

M HOLDINGS SECURITIES INC2 years

Service code 99 · EIN 91-1802259

Other Fees

$24,872

MVP PLAN ADMINISTRATORS, INC.1 year

Service code 13 · EIN 56-2263714

Contract Administrator

$9,300

PLYBON & ASSOCIATES, INC.1 year

Filed as: PLYBON

Service code 13 · EIN 56-0863088

Contract Administrator

$9,000

BRESLOW STARLING FROST WARNER BOGER1 year

Filed as: BRESLOW STARLING

Service code 10 · EIN 56-0593053

Accounting

$8,172

BEST SERVICES GROUP, INC. EMPLOYEE SAVINGS AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BEST SERVICES GROUP, INC. EMPLOYEE SAVINGS AND PROFIT SHARING 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