Retirement plan

BRUCE PACKING CO., INC. 401(K) PROFIT SHARING PLAN

Name: BRUCE PACKING CO., INC. - BRUCE PACKING CO., INC. 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: BRUCE PACKING CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BRUCE PACKING CO., INC. 401(K) PROFIT SHARING PLAN, BRUCE PACKING CO., INC.

BRUCE PACKING CO., INC.EIN 93-1297989Plan #001PY 2022

PO BOX 588 - WOODBURN, OR 97071503-874-3000

Prospect flagsHigh cashFailed to transmit contributions

How to read this page

Total assets (EOY)

$22.4M

-12.7% from 2021

Total participants

1,072

-26.8% from 2021

Average account balance

$25,620

-21.6% from 2021

Annual return

-13.95%

-24.51 pp from 2021

Benchmarks

See 736 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort736 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$28.42M

Not enough data

1 years with asset history on file

Average account balance

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

$35K

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.

809

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.

52.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.17M

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

+11.45%

Not enough data

1 years with return on file

Admin fee / account holder

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

$172

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
NEWPORT GROUP, INC.2+ years Service code 15 · EIN 27-2037969	Recordkeeping	$93,750
NEWPORT GROUP, INC.2+ years Filed as: NEWPORT TRUST COMPLANY Service code 21 · EIN 27-4411131	Bank Trustee	$11,201

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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

2 tripped

OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$105K

$139 / participant

Contract admin$94K89.3%
Other / not subdivided$11K10.7%

% of EOY assets

0.468%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PERKINS & CO.
Auditor EIN: 930928924
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$25,620

$56,503-54.7%

$69,884-63.3%

$64,819-60.5%

Participation rate

74.0%

70.5%+3.5pp

71.5%+2.5pp

Annual return

-13.95%

-13.44%-0.5pp

190.81%-204.8pp

32.84%-46.8pp

Employer contribution / active EE

$1,640

$2,046-19.8%

$2,560-35.9%

$2,507-34.6%

Participant deferral / active EE

$2,662

$3,389-21.4%

$3,848-30.8%

$4,311-38.2%

Admin fee / account holder

$120

$160-25.2%

$6,266-98.1%

$188-36.1%

Provider

Service type

Compensation

NEWPORT GROUP, INC.2+ years

Service code 15 · EIN 27-2037969

Recordkeeping

$93,750

NEWPORT GROUP, INC.2+ years

Filed as: NEWPORT TRUST COMPLANY

Service code 21 · EIN 27-4411131

Bank Trustee

$11,201

BRUCE PACKING CO., INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BRUCE PACKING CO., INC. 401(K) 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