Retirement plan

BOSTON RESTAURANT ASSOCIATES, INC. 401(K) PLAN

Name: BOSTON RESTAURANT ASSOCIATES, INC. - BOSTON RESTAURANT ASSOCIATES, INC. 401(K) PLAN (2019) Form 5500
Creator: BOSTON RESTAURANT ASSOCIATES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BOSTON RESTAURANT ASSOCIATES, INC. 401(K) PLAN, BOSTON RESTAURANT ASSOCIATES, INC.

BOSTON RESTAURANT ASSOCIATES, INC.EIN 61-1162263Plan #001PY 2019

48 CUMMINGS PARK - WOBURN, MA 01801781-305-4482LinkedIn11-50 employeesrestaurants

Prospect flagsLow participationLow fidelity bondCorrective distributions

How to read this page

Total assets (EOY)

$2.6M

+25.9% from 2018

Total participants

248

-0.4% from 2018

Average account balance

$31,158

+18.4% from 2018

Annual return

18.88%

+25.91 pp from 2018

Benchmarks

See 899 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants100-249

Cohort899 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.27M

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.

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.

58.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$208K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+10.36%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1157

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

0 years with F_SCH_H allocation on file

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
NATIONWIDE5+ years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$17,203
MERRILL LYNCH PIERCE FENNER & SMITH5+ years Filed as: MERRILL LYNCH, PIERCE, FENNER Service code 55 RETIREMENT GRP/DEBBIE SAWYER · PENNINGTON, NJ 08534	Other Commissions	$11,704
PENSION ASSURANCE LLP1 year Filed as: THE PENSION SERVICE Service code 17 · EIN 04-3496225 468 GREAT ROAD · ACTON, MA 01720	Pension Consulting	$2,682

Plan features & details

Pension benefit codes2E2G2J2K3H3I

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
3I
Employer securities investment required
Plan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BURKE & ASSOCIATES CPAS, INC.
Auditor EIN: 020664148
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$31,158

$31,679-1.6%

$74,719-58.3%

$65,185-52.2%

Participation rate

27.1%

40.4%-13.2pp

54.5%-27.4pp

70.2%-43.1pp

Annual return

18.88%

39.04%-20.2pp

753.05%-734.2pp

29.38%-10.5pp

Employer contribution / active EE

$139

$566-75.5%

$1,084-87.2%

$2,177-93.6%

Participant deferral / active EE

$709

$1,191-40.5%

$1,963-63.9%

$3,514-79.8%

Admin fee / account holder

$379-100.0%

$3,334-100.0%

$847-100.0%

Provider

Service type

Compensation

NATIONWIDE5+ years

Service code 15

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$17,203

MERRILL LYNCH PIERCE FENNER & SMITH5+ years

Filed as: MERRILL LYNCH, PIERCE, FENNER

Service code 55

RETIREMENT GRP/DEBBIE SAWYER · PENNINGTON, NJ 08534

Other Commissions

$11,704

PENSION ASSURANCE LLP1 year

Filed as: THE PENSION SERVICE

Service code 17 · EIN 04-3496225

468 GREAT ROAD · ACTON, MA 01720

Pension Consulting

$2,682

BOSTON RESTAURANT ASSOCIATES, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

BOSTON RESTAURANT ASSOCIATES, INC. 401(K) 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