Retirement plan

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

Name: JAK FOODS, INC. - JAK FOODS, INC. 401(K) PROFIT SHARING PLAN & TRUST (2023) 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 2023

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

Prospect flagsLow returnsHigh feesLow participation

How to read this page

Total assets (EOY)

$791K

-0.8% from 2022

Total participants

161

+215.7% from 2022

Average account balance

$30,433

+10.6% from 2022

Annual return

12.20%

+28.01 pp from 2022

Benchmarks

See 1,291 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants100-249

Cohort1,291 peers

Snapshot2023

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

3 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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$282K

$1795 / participant

Other / not subdivided$282K100.0%

% of EOY assets

35.622%

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

$30,433

$27,800+9.5%

$58,544-48.0%

$71,495-57.4%

Participation rate

14.0%

34.6%-20.6pp

50.9%-36.8pp

67.9%-53.9pp

Annual return

12.20%

26.80%-14.6pp

4249.56%-4237.4pp

28.85%-16.7pp

Employer contribution / active EE

$276

$632-56.4%

$1,053-73.8%

$2,589-89.4%

Participant deferral / active EE

$774

$1,208-36.0%

$1,923-59.8%

$4,291-82.0%

Admin fee / account holder

$10,841

$1,637+562.1%

$2,520+330.2%

$1,588+582.8%

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