Retirement plan

BETTER BAKED FOODS, LLC 401K RETIREMENT PLAN

Name: SCHWAN'S SHARED SERVICES, LLC - BETTER BAKED FOODS, LLC 401K RETIREMENT PLAN (2019) Form 5500
Creator: SCHWAN'S SHARED SERVICES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BETTER BAKED FOODS, LLC 401K RETIREMENT PLAN, SCHWAN'S SHARED SERVICES, LLC

SCHWAN'S SHARED SERVICES, LLCEIN 81-0572771Plan #002PY 2019

8500 NORMANDALE BLVD. - BLOOMINGTON, MN 55437814-725-8778LinkedIn10001+ employeesindividual & family services

Other plans on this EIN

1 filing

#001Retirement-$535.4M assets

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$6.3M

-7.7% from 2020

Total participants

121

-6.9% from 2020

Average account balance

$68,657

-7.7% from 2020

Annual return

-66.54%

-78.57 pp from 2020

Benchmarks

See 2,363 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,363 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

-98.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 5 by compensation

Provider	Service type	Compensation
ALERUS FINANCIAL, N.A.1+ years Filed as: ALERUS REVENUE Service code 15 · EIN 45-6062081 TWO PINE TREE DR · ARDEN HILLS, MN 55112	Recordkeeping	$15,116
KP LYNCH CPA PC1+ years Service code 10 · EIN 20-2059984 4329 FOUR ROD ROAD · EAST AURORA, NY 14052	Accounting	$8,551
THE VARGO COMPANY1+ years Service code 15 · EIN 27-4305376 4932 IROQUOIS AVENUE · ERIE, PA 16511	Recordkeeping	$4,499
WILLIS TOWERS WATSON US LLC1+ years Filed as: TOWERS WATSON INVESTMENT SERVICES Service code 17 · EIN 52-1868818 901 NORTHGLEBE ROAD · ARLINGTON, VA 22203	Pension Consulting	$2,903
PLAN DESIGN CONSULTANTS, INC.1+ years Filed as: PLAN SERVICES & SUPPORT SYSTEMS Service code 15 TWO PINE TREE DR · ST PAUL, MN 55164	Recordkeeping	$1,930

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

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

$33K

$287 / participant

Investment mgmt$23K71.0%
Contract admin$1K3.1%
Other / not subdivided$9K25.9%

% of EOY assets

0.522%

all-in expense ratio

Categories reported

2 / 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: KP LYNCH CPA PC
Auditor EIN: 202059984
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$68,657

$86,341-20.5%

$125,195-45.2%

$65,188+5.3%

Participation rate

74.8%

75.3%-0.5pp

79.8%-5.0pp

70.2%+4.6pp

Annual return

-66.54%

27.44%-94.0pp

43.79%-110.3pp

29.38%-95.9pp

Employer contribution / active EE

$881

$2,040-56.8%

$3,866-77.2%

$2,177-59.5%

Participant deferral / active EE

$2,839

$3,538-19.8%

$4,937-42.5%

$3,514-19.2%

Admin fee / account holder

$359

$609-41.1%

$9,704-96.3%

$847-57.7%

Provider

Service type

Compensation

ALERUS FINANCIAL, N.A.1+ years

Filed as: ALERUS REVENUE

Service code 15 · EIN 45-6062081

TWO PINE TREE DR · ARDEN HILLS, MN 55112

Recordkeeping

$15,116

KP LYNCH CPA PC1+ years

Service code 10 · EIN 20-2059984

4329 FOUR ROD ROAD · EAST AURORA, NY 14052

Accounting

$8,551

THE VARGO COMPANY1+ years

Service code 15 · EIN 27-4305376

4932 IROQUOIS AVENUE · ERIE, PA 16511

Recordkeeping

$4,499

WILLIS TOWERS WATSON US LLC1+ years

Filed as: TOWERS WATSON INVESTMENT SERVICES

Service code 17 · EIN 52-1868818

901 NORTHGLEBE ROAD · ARLINGTON, VA 22203

Pension Consulting

$2,903

PLAN DESIGN CONSULTANTS, INC.1+ years

Filed as: PLAN SERVICES & SUPPORT SYSTEMS

Service code 15

TWO PINE TREE DR · ST PAUL, MN 55164

Recordkeeping

$1,930

BETTER BAKED FOODS, LLC 401K RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BETTER BAKED FOODS, LLC 401K RETIREMENT 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