Retirement plan

JAK FOODS, INC. 401(K) PROFIT SHARING PLAN & TRUST

Name: JAK FOODS, INC. - JAK FOODS, INC. 401(K) PROFIT SHARING PLAN & TRUST (2022) Form 5500
Creator: JAK FOODS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, JAK FOODS, INC. 401(K) PROFIT SHARING PLAN & TRUST, JAK FOODS, INC.

JAK FOODS, INC.EIN 71-0921070Plan #001PY 2022

2401 BROAD ST., SUITE 201 - CHATTANOOGA, TN 37408423-894-3881LinkedIn11-50 employeesfood production

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$798K

+2.5% from 2021

Total participants

-13.6% from 2021

Average account balance

$27,505

+44.9% from 2021

Annual return

-15.81%

-27.45 pp from 2021

Benchmarks

See 4,973 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants25-99

Cohort4,973 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$913K

Not enough data

1 years with asset history on file

Average account balance

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

$48K

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.

10.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$158K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$837

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

+8.74%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6342

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

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 codes2E2J2F2G3D3H2T

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.
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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$29K

$673 / participant

Other / not subdivided$29K100.0%

% of EOY assets

3.628%

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

$27,505

$27,632-0.5%

$61,452-55.2%

$68,486-59.8%

Participation rate

48.8%

39.5%+9.3pp

52.6%-3.7pp

67.9%-19.1pp

Annual return

-15.81%

-13.24%-2.6pp

338.96%-354.8pp

-7.85%-8.0pp

Employer contribution / active EE

$1,075

$696+54.5%

$1,160-7.3%

$2,597-58.6%

Participant deferral / active EE

$2,788

$1,264+120.7%

$2,125+31.2%

$4,028-30.8%

Admin fee / account holder

$998

$2,010-50.4%

$2,131-53.2%

$5,404-81.5%

JAK FOODS, INC. 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

JAK FOODS, INC. 401(K) PROFIT SHARING PLAN & TRUST

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