Retirement plan

BERRY METAL COMPANY EFFICIENCY PROFIT SHARING PLAN FOR HOURLY EMPLOYEES

Name: NEW BERRY, INC. DBA BERRY METAL COMPANY - BERRY METAL COMPANY EFFICIENCY PROFIT SHARING PLAN FOR HOURLY EMPLOYEES (2023) Form 5500
Creator: NEW BERRY, INC. DBA BERRY METAL COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BERRY METAL COMPANY EFFICIENCY PROFIT SHARING PLAN FOR HOURLY EMPLOYEES, NEW BERRY, INC. DBA BERRY METAL COMPANY

NEW BERRY, INC. DBA BERRY METAL COMPANYEIN 95-3874582Plan #139PY 2023

2408 EVANS CITY ROAD - HARMONY, PA 16037724-453-1653

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$2.1M

+15.3% from 2022

Total participants

+2.2% from 2022

Average account balance

$47,041

+7.6% from 2022

Annual return

8.06%

+17.06 pp from 2022

Benchmarks

See 22,643 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort22,643 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.08M

Not enough data

1 years with asset history on file

Average account balance

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

$60K

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.

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.

194.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$182K

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

+7.86%

Not enough data

1 years with return on file

Admin fee / account holder

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

$11148

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3B3D3H

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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.
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.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$76K

$3187 / participant

Other / not subdivided$76K100.0%

% of EOY assets

3.613%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$47,041

$110,212-57.3%

$96,534-51.3%

$139,466-66.3%

Participation rate

95.8%

78.1%+17.7pp

76.0%+19.9pp

80.3%+15.5pp

Annual return

8.06%

26.42%-18.4pp

25.88%-17.8pp

373.66%-365.6pp

Employer contribution / active EE

$5,053

$3,620+39.6%

$2,965+70.4%

$4,754+6.3%

Participant deferral / active EE

$3,394

$5,547-38.8%

$4,851-30.0%

$6,712-49.4%

Admin fee / account holder

$1,700

$11,599-85.3%

$8,253-79.4%

$11,409-85.1%

BERRY METAL COMPANY EFFICIENCY PROFIT SHARING PLAN FOR HOURLY EMPLOYEES

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BERRY METAL COMPANY EFFICIENCY PROFIT SHARING PLAN FOR HOURLY EMPLOYEES

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