Retirement plan

JACKS FAMILY RESTAURANTS/SFM 401(K) PLAN

Name: JACKS FAMILY RESTAURANTS, LP - JACKS FAMILY RESTAURANTS/SFM 401(K) PLAN (2020) Form 5500
Creator: JACKS FAMILY RESTAURANTS, LP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, JACKS FAMILY RESTAURANTS/SFM 401(K) PLAN, JACKS FAMILY RESTAURANTS, LP

JACKS FAMILY RESTAURANTS, LPEIN 63-0440641Plan #003PY 2020

124 WEST OXMOOR ROAD - BIRMINGHAM, AL 35209205-945-8167eatatjacks.comLinkedIn5001-10000 employeesrestaurants

Prospect flagsLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$15.5M

+15.3% from 2019

Total participants

3,171

-50.9% from 2019

Average account balance

$22,586

+24.2% from 2019

Annual return

12.33%

-8.14 pp from 2019

Benchmarks

See 247 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort247 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.12M

Not enough data

1 years with asset history on file

Average account balance

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

$35K

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.

483

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.

8.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.44M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$394

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

+12.41%

Not enough data

1 years with return on file

Admin fee / account holder

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

$248

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 4 by compensation

Provider	Service type	Compensation
PLEXUS FINANCIAL SERVICES, LLC4 years Service code 55 · EIN 27-1746834	Other Commissions	$33,562
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Filed as: MASSMUTUAL RETIREMENT SERVICES, LLC Service code 15 · EIN 26-1589907	Recordkeeping	$5,790
RELIANCE TRUST COMPANY6+ years Service code 19 · EIN 58-1428634	Securities Custodian	$240
ENVESTNET RETIREMENT SOLUTIONS, LLC5 years Service code 27 · EIN 61-1732930	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$39K

$13 / participant

Other / not subdivided$39K100.0%

% of EOY assets

0.253%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

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: CARR, RIGGS, & INGRAM, LLC
Auditor EIN: 721396621
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$22,586

$29,516-23.5%

$77,552-70.9%

$90,274-75.0%

Participation rate

20.3%

33.7%-13.3pp

54.2%-33.9pp

73.4%-53.0pp

Annual return

12.33%

231.18%-218.8pp

54.82%-42.5pp

53.97%-41.6pp

Employer contribution / active EE

$186

$381-51.2%

$987-81.2%

$2,523-92.6%

Participant deferral / active EE

$334

$944-64.6%

$1,861-82.1%

$4,231-92.1%

Admin fee / account holder

$57

$106-46.0%

$2,859-98.0%

$114-49.9%

Provider

Service type

Compensation

PLEXUS FINANCIAL SERVICES, LLC4 years

Service code 55 · EIN 27-1746834

Other Commissions

$33,562

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Filed as: MASSMUTUAL RETIREMENT SERVICES, LLC

Service code 15 · EIN 26-1589907

Recordkeeping

$5,790

RELIANCE TRUST COMPANY6+ years

Service code 19 · EIN 58-1428634

Securities Custodian

$240

ENVESTNET RETIREMENT SOLUTIONS, LLC5 years

Service code 27 · EIN 61-1732930

Advisory (Plan)

JACKS FAMILY RESTAURANTS/SFM 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

JACKS FAMILY RESTAURANTS/SFM 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