Retirement plan

BASIC RETIREMENT SAVINGS PLAN

Name: BASIC AMERICAN, INC. - BASIC RETIREMENT SAVINGS PLAN (2024) Form 5500
Creator: BASIC AMERICAN, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BASIC RETIREMENT SAVINGS PLAN, BASIC AMERICAN, INC.

BASIC AMERICAN, INC.EIN 94-1318402Plan #001PY 2024

1676 N. CALIFORNIA BLVD., SUITE 525 - WALNUT CREEK, CA 94596925-472-4000LinkedIn1001-5000 employeesfood production

Other plans on this EIN

1 filing

#003Retirement-$12.5M assets

Prospect flagsLow returnsHigh fees

Top hat statement on fileNQDC

Filed February 2, 2009 (most recent of 2 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$158.7M

+2.6% from 2023

Total participants

1,640

+3.4% from 2023

Average account balance

$98,156

-1.1% from 2023

Annual return

11.61%

-2.83 pp from 2023

Benchmarks

See 744 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort744 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$158.72M

Not enough data

1 years with asset history on file

Average account balance

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

$98K

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.

1,617

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.

97.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$8.72M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+11.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$318

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

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
CHARLES SCHWAB & CO., INC.6 years Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$385,148
AMERICAN REALTY ADVISORS10+ years Filed as: BASIC AMERICAN INC Service code 28 · EIN 94-1318402	Investment Management	$76,801
MORGAN STANLEY SMITH BARNEY3 years Filed as: MORGAN STANLEY GLOBAL Service code 28 · EIN 26-4310632	Investment Management	$30,000
CBIZ RETIREMENT PLAN SERVICES3 years Filed as: CBIZ INC Service code 10 · EIN 22-2769024	Accounting	$20,383
CHARLES SCHWAB & CO., INC.2 years Filed as: CHARLES SCHWAB & CO INC Service code 33 · EIN 94-1737782	Shareholder servicing fees; Float rev...	$298
CHARLES SCHWAB & CO., INC.2 years Filed as: CHARLES SCHWAB & CO.INC. AND AFFIL Service code 59	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3H

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
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

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

$513K

$590 / participant

Recordkeeping$143K27.8%
Investment mgmt$276K53.7%
Contract admin$79K15.3%
Other / not subdivided$16K3.2%

% of EOY assets

0.324%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CBIZ CPAS P.C.
Auditor EIN: 431947695
Audit fees: $16,446
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$98,156

$66,459+47.7%

$81,353+20.7%

$77,736+26.3%

Participation rate

97.4%

68.7%+28.7pp

69.5%+27.8pp

70.6%+26.8pp

Annual return

11.61%

15.95%-4.3pp

24.82%-13.2pp

31.26%-19.6pp

Employer contribution / active EE

$3,910

$2,156+81.3%

$2,464+58.7%

$2,728+43.3%

Participant deferral / active EE

$6,107

$3,674+66.2%

$3,885+57.2%

$4,651+31.3%

Admin fee / account holder

$318

$585-45.7%

$5,766-94.5%

$433-26.7%

Provider

Service type

Compensation

CHARLES SCHWAB & CO., INC.6 years

Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$385,148

AMERICAN REALTY ADVISORS10+ years

Filed as: BASIC AMERICAN INC

Service code 28 · EIN 94-1318402

Investment Management

$76,801

MORGAN STANLEY SMITH BARNEY3 years

Filed as: MORGAN STANLEY GLOBAL

Service code 28 · EIN 26-4310632

Investment Management

$30,000

CBIZ RETIREMENT PLAN SERVICES3 years

Filed as: CBIZ INC

Service code 10 · EIN 22-2769024

Accounting

$20,383

CHARLES SCHWAB & CO., INC.2 years

Filed as: CHARLES SCHWAB & CO INC

Service code 33 · EIN 94-1737782

Shareholder servicing fees; Float rev...

$298

CHARLES SCHWAB & CO., INC.2 years

Filed as: CHARLES SCHWAB & CO.INC. AND AFFIL

Service code 59

Shareholder Servicing

BASIC RETIREMENT SAVINGS PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BASIC RETIREMENT SAVINGS PLAN

Top hat statement on fileNQDC

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