Retirement plan

NEW MEXICO RESTAURANT ASSOCIATION 401(K) PLAN

Name: NEW MEXICO RESTAURANT ASSOCIATION - NEW MEXICO RESTAURANT ASSOCIATION 401(K) PLAN (2023) Form 5500
Creator: NEW MEXICO RESTAURANT ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NEW MEXICO RESTAURANT ASSOCIATION 401(K) PLAN, NEW MEXICO RESTAURANT ASSOCIATION

NEW MEXICO RESTAURANT ASSOCIATIONEIN 85-0111356Plan #001PY 2023

9201 MONTGOMERY BLVD. NE STE. 602, STE. 602 - ALBUQUERQUE, NM 87111505-343-9848nmrestaurants.orgLinkedIn1-10 employeeshospitality

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$211K

+43.8% from 2022

Total participants

0.0% from 2022

Average account balance

$23,415

+43.8% from 2022

Annual return

17.27%

+35.44 pp from 2022

Benchmarks

See 41,854 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort41,854 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$381K

Not enough data

1 years with asset history on file

Average account balance

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

$42K

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.

128.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$50K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+16.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$275

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 codes2E2F2G2J3D

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.
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

1 tripped

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

$8K

$1398 / participant

Other / not subdivided$8K100.0%

% of EOY assets

3.979%

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

$23,415

$96,643-75.8%

$86,617-73.0%

$139,456-83.2%

Participation rate

100.0%

74.4%+25.6pp

71.7%+28.3pp

80.3%+19.7pp

Annual return

17.27%

106.57%-89.3pp

591.91%-574.6pp

373.45%-356.2pp

Employer contribution / active EE

$2,485

$3,264-23.9%

$3,023-17.8%

$4,753-47.7%

Participant deferral / active EE

$5,311

$4,835+9.8%

$4,437+19.7%

$6,711-20.9%

Admin fee / account holder

$932

$6,406-85.5%

$5,613-83.4%

$11,407-91.8%

NEW MEXICO RESTAURANT ASSOCIATION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NEW MEXICO RESTAURANT ASSOCIATION 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