Retirement plan

MORNING FRESH FARMS, INC. PROFIT SHARING PLAN

Name: MORNING FRESH FARMS, INC. - MORNING FRESH FARMS, INC. PROFIT SHARING PLAN (2021) Form 5500
Creator: MORNING FRESH FARMS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MORNING FRESH FARMS, INC. PROFIT SHARING PLAN, MORNING FRESH FARMS, INC.

MORNING FRESH FARMS, INC.EIN 84-0801067Plan #002PY 2021

15121 WELD CO ROAD 32 - PLATTEVILLE, CO 806518199970-785-2889morningfresh.comLinkedIn51-200 employeesfood production

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$8.5M

+3.9% from 2020

Total participants

-1.1% from 2020

Average account balance

$98,552

+7.6% from 2020

Annual return

9.00%

-1.31 pp from 2020

Benchmarks

See 2,182 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants25-99

Cohort2,182 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$693K

Not enough data

1 years with asset history on file

Average account balance

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

$58K

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.

24.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$17K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$353

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

-75.52%

Not enough data

1 years with return on file

Admin fee / account holder

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

$102241

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 codes2E2F2G2J2T3D3F

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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

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

$879K

$12732 / participant

Other / not subdivided$879K100.0%

% of EOY assets

10.365%

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

$98,552

$70,587+39.6%

$124,694-21.0%

$85,851+14.8%

Participation rate

92.8%

64.4%+28.3pp

74.6%+18.1pp

69.3%+23.4pp

Annual return

9.00%

20688.83%-20679.8pp

5144.82%-5135.8pp

318.63%-309.6pp

Employer contribution / active EE

$3,598

$1,913+88.0%

$3,325+8.2%

$2,565+40.3%

Participant deferral / active EE

$2,823

$2,969-4.9%

$4,615-38.8%

$3,952-28.6%

Admin fee / account holder

$10,215

$5,282+93.4%

$7,495+36.3%

$6,261+63.2%

MORNING FRESH FARMS, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MORNING FRESH FARMS, INC. PROFIT SHARING 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