Retirement plan

CALIFORNIA ARTICHOKE & VEGETABLE GROWERS CORPORATION DBA OCEAN MIST FARMS 401(K) & PROFIT SHARING PLAN

Name: CALIFORNIA ARTICHOKE & VEGETABLE GROWERS CORPORATION - CALIFORNIA ARTICHOKE & VEGETABLE GROWERS CORPORATION DBA OCEAN MIST FARMS 401(K) & PROFIT SHARING PLAN (2020) Form 5500
Creator: CALIFORNIA ARTICHOKE & VEGETABLE GROWERS CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CALIFORNIA ARTICHOKE & VEGETABLE GROWERS CORPORATION DBA OCEAN MIST FARMS 401(K) & PROFIT SHARING PLAN, CALIFORNIA ARTICHOKE & VEGETABLE GROWERS CORPORATION

CALIFORNIA ARTICHOKE & VEGETABLE GROWERS CORPORATIONdba DBA OCEAN MIST FARMSEIN 94-0355910Plan #001PY 2020

10855 OCEAN MIST PARKWAY, SUITE A - CASTROVILLE, CA 950121247831-633-2144oceanmist.comLinkedIn201-500 employeesfarming

Prospect flagsLow returnsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$33.5M

+4.4% from 2019

Total participants

243

-3.6% from 2019

Average account balance

$138,299

+5.2% from 2019

Annual return

4.95%

+0.17 pp from 2019

Benchmarks

See 495 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants100-249

Cohort495 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$40.44M

Not enough data

1 years with asset history on file

Average account balance

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

$120K

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.

337

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.

93.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.49M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+11.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

$238

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 3 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL5+ years Service code 37 · EIN 04-2647786	Loan Processing	$42,312
SAGEVIEW ADVISORY GROUP, LLC1 year Filed as: SAGEVIEW ADVISORY GROUP Service code 16 · EIN 33-0818667	Consulting	$20,000
RYAN AND MCDONALD3 years Filed as: RYAN & MCDONALD Service code 10 · EIN 77-0583407	Accounting	$9,050

Plan features & details

Pension benefit codes2F2G2J2K2S2T2E3D3F3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
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

3 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.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$75K

$412 / participant

Investment mgmt$4K5.4%
Other / not subdivided$71K94.6%

% of EOY assets

0.225%

all-in expense ratio

Categories reported

1 / 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: RYAN & MCDONALD LLP
Auditor EIN: 770583407
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$138,299

$59,328+133.1%

$118,946+16.3%

$73,493+88.2%

Participation rate

99.5%

62.3%+37.2pp

75.4%+24.1pp

70.7%+28.8pp

Annual return

4.95%

19.13%-14.2pp

35.89%-30.9pp

28.51%-23.6pp

Employer contribution / active EE

$1,471

$1,803-18.4%

$3,263-54.9%

$2,270-35.2%

Participant deferral / active EE

$7,295

$2,604+180.1%

$4,266+71.0%

$3,740+95.1%

Admin fee / account holder

$312

$600-48.1%

$6,581-95.3%

$513-39.3%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL5+ years

Service code 37 · EIN 04-2647786

Loan Processing

$42,312

SAGEVIEW ADVISORY GROUP, LLC1 year

Filed as: SAGEVIEW ADVISORY GROUP

Service code 16 · EIN 33-0818667

Consulting

$20,000

RYAN AND MCDONALD3 years

Filed as: RYAN & MCDONALD

Service code 10 · EIN 77-0583407

Accounting

$9,050

CALIFORNIA ARTICHOKE & VEGETABLE GROWERS CORPORATION DBA OCEAN MIST FARMS 401(K) & PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CALIFORNIA ARTICHOKE & VEGETABLE GROWERS CORPORATION DBA OCEAN MIST FARMS 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