Retirement plan

READY PAC FOODS, INC. 401(K) RETIREMENT SAVINGS PLAN

Name: READY PAC PRODUCE, INC. - READY PAC FOODS, INC. 401(K) RETIREMENT SAVINGS PLAN (2024) Form 5500
Creator: READY PAC PRODUCE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, READY PAC FOODS, INC. 401(K) RETIREMENT SAVINGS PLAN, READY PAC PRODUCE, INC.

READY PAC PRODUCE, INC.EIN 95-2628613Plan #001PY 2024

4401 FOXDALE AVENUE - IRWINDALE, CA 91706626-856-8686readypacproduce.comLinkedIn1001-5000 employees

Prospect flagsLow returnsLow assets / participantLow employer contributionLow participant contributionCorrective distributions

Top hat statement on fileNQDC

Filed February 21, 2006 (most recent of 3 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)

$66.4M

+10.6% from 2023

Total participants

3,129

+6.0% from 2023

Average account balance

$26,273

+12.9% from 2023

Annual return

11.55%

-2.42 pp from 2023

Benchmarks

See 334 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants1,000-4,999

Cohort334 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$66.44M

Not enough data

1 years with asset history on file

Average account balance

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

$26K

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.

2,529

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.

75.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$6.80M

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

+11.55%

Not enough data

1 years with return on file

Admin fee / account holder

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

$131

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 4 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL10+ years Service code 37 · EIN 04-2647786	Loan Processing	$230,929
NFP RETIREMENT INC8 years Service code 27 · EIN 33-0905143	Advisory (Plan)	$69,947
MILLER KAPLAN ARASE LLP9 years Service code 10 · EIN 95-2036255	Accounting	$15,200
STRATEGIC ADVISORS, INC.10+ years Service code 27 · EIN 04-2654524	Advisory (Plan)	$14,548

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
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

5 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$331K

$135 / participant

Recordkeeping$231K69.8%
Investment mgmt$84K25.6%
Other / not subdivided$15K4.6%

% of EOY assets

0.498%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: MILLER KAPLAN ARASE LLP
Auditor EIN: 952036255
Audit fees: $15,200
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$26,273

$2,679,533-99.0%

$164,813-84.1%

$199,593-86.8%

Participation rate

75.6%

78.3%-2.7pp

78.6%-3.0pp

72.0%+3.6pp

Annual return

11.55%

17.93%-6.4pp

69.93%-58.4pp

34.25%-22.7pp

Employer contribution / active EE

$448

$2,970-84.9%

$4,341-89.7%

$3,034-85.2%

Participant deferral / active EE

$2,318

$5,010-53.7%

$6,031-61.6%

$5,087-54.4%

Admin fee / account holder

$131

$1,982-93.4%

$12,690-99.0%

$269-51.4%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL10+ years

Service code 37 · EIN 04-2647786

Loan Processing

$230,929

NFP RETIREMENT INC8 years

Service code 27 · EIN 33-0905143

Advisory (Plan)

$69,947

MILLER KAPLAN ARASE LLP9 years

Service code 10 · EIN 95-2036255

Accounting

$15,200

STRATEGIC ADVISORS, INC.10+ years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$14,548

READY PAC FOODS, INC. 401(K) RETIREMENT SAVINGS PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

READY PAC FOODS, INC. 401(K) 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