Retirement plan

CLOVER FARMS DAIRY COMPANY UNION EMPLOYEES 4O1K PLAN

Name: CLOVER FARMS DAIRY LLC - CLOVER FARMS DAIRY COMPANY UNION EMPLOYEES 4O1K PLAN (2023) Form 5500
Creator: CLOVER FARMS DAIRY LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CLOVER FARMS DAIRY COMPANY UNION EMPLOYEES 4O1K PLAN, CLOVER FARMS DAIRY LLC

CLOVER FARMS DAIRY LLCEIN 92-1062793Plan #002PY 2023

529 CEDAR LANE - FLORENCE, NJ 08518610-921-9111

Other plans on this EIN

1 filing

#001Retirement-$3.3M assets

Prospect flagsLow participant contribution

How to read this page

Total assets (EOY)

$6.1M

+15.5% from 2022

Total participants

292

+3.5% from 2022

Average account balance

$21,036

+12.3% from 2022

Annual return

14.37%

+29.61 pp from 2022

Benchmarks

See 938 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort938 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.05M

Not enough data

1 years with asset history on file

Average account balance

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

$25K

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.

280

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.

97.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$667K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+9.09%

Not enough data

1 years with return on file

Admin fee / account holder

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

$202

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 2 by compensation

Provider	Service type	Compensation
ASCENSUS LLC2+ years Service code 15 · EIN 11-3665754	Recordkeeping	$29,691
MERRILL LYNCH PIERCE FENNER & SMITH2+ years Filed as: MERRILL LYNCH RETIREMENT & BENEFIT Service code 27 · EIN 13-5674085	Advisory (Plan)	$21,211

Plan features & details

Pension benefit codes2E3D2G2J2F2T

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.

Opportunity flags

1 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$51K

$227 / participant

Investment mgmt$21K41.7%
Contract admin$30K58.3%

% of EOY assets

0.837%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HERBEIN AND COMPANY
Auditor EIN: 232415973
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$21,036

$56,438-62.7%

$76,872-72.6%

$71,511-70.6%

Participation rate

98.7%

64.3%+34.4pp

69.6%+29.1pp

67.9%+30.7pp

Annual return

14.37%

19.05%-4.7pp

37.90%-23.5pp

28.86%-14.5pp

Employer contribution / active EE

$1,710

$1,864-8.2%

$2,533-32.5%

$2,589-33.9%

Participant deferral / active EE

$1,088

$3,136-65.3%

$3,832-71.6%

$4,291-74.6%

Admin fee / account holder

$176

$1,430-87.7%

$5,476-96.8%

$1,588-88.9%

Provider

Service type

Compensation

ASCENSUS LLC2+ years

Service code 15 · EIN 11-3665754

Recordkeeping

$29,691

MERRILL LYNCH PIERCE FENNER & SMITH2+ years

Filed as: MERRILL LYNCH RETIREMENT & BENEFIT

Service code 27 · EIN 13-5674085

Advisory (Plan)

$21,211

CLOVER FARMS DAIRY COMPANY UNION EMPLOYEES 4O1K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CLOVER FARMS DAIRY COMPANY UNION EMPLOYEES 4O1K 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