Retirement plan

BACON UNIVERSAL CO., INC. 401(K) PROFIT SHARING PLAN

Name: BACON UNIVERSAL CO., INC. - BACON UNIVERSAL CO., INC. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: BACON UNIVERSAL CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BACON UNIVERSAL CO., INC. 401(K) PROFIT SHARING PLAN, BACON UNIVERSAL CO., INC.

BACON UNIVERSAL CO., INC.EIN 99-0066852Plan #002PY 2023

918 AHUA STREET - HONOLULU, HI 96819808-839-7202

Prospect flagsLow returnsLow fidelity bondFailed to transmit contributions

How to read this page

Total assets (EOY)

$3.1M

+14.6% from 2022

Total participants

132

+10.0% from 2022

Average account balance

$23,901

+4.0% from 2022

Annual return

8.86%

+21.06 pp from 2022

Benchmarks

See 9,823 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort9,823 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

-97.88%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
ROYAL ALLIANCE ASSOCIATES INC4 years Service code 55 200 LIBERTY FINANCIAL CENTER · NEW YORK, NY 10281	Other Commissions	$14,719
HICKS PENSION SERVICES4 years Filed as: HICKS PENSION GROUP Service code 13 1218 WAIMANU ST, 2ND FLOOR · HONOLULU, HI 96814	Contract Administrator	$4,102
QUALIFIED PLANS, LLC4 years Filed as: QUALIFIED SERVICES INC Service code 13	Contract Administrator	$1,367
JOHN HANCOCK LIFE INSURANCE COMPANY4 years Filed as: JOHN HANCOCK LIFE INSURANCE CO USA Service code 15 · EIN 01-0233346	Recordkeeping	$326
QUALIFED PLAN ADMINISTRATORS INC.4 years Filed as: QUALIFED SERVICES INC Service code 13 555 CHORRO STREET, SUITE C · SAN LUIS OBISPO, CA 93405	Contract Administrator	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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

3 tripped

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).
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

$9K

$103 / participant

Contract admin$3263.5%
Other / not subdivided$9K96.5%

% of EOY assets

0.303%

all-in expense ratio

Categories reported

1 / 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: MC GROUP HAWAII, INC.
Auditor EIN: 273701730
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$23,901

$57,281-58.3%

$86,612-72.4%

$75,163-68.2%

Participation rate

97.8%

63.2%+34.6pp

71.7%+26.1pp

67.2%+30.6pp

Annual return

8.86%

2670.75%-2661.9pp

591.07%-582.2pp

160.62%-151.8pp

Employer contribution / active EE

$1,333

$2,314-42.4%

$3,022-55.9%

$2,670-50.1%

Participant deferral / active EE

$1,294

$3,318-61.0%

$4,438-70.8%

$4,125-68.6%

Admin fee / account holder

$73

$4,112-98.2%

$5,614-98.7%

$5,651-98.7%

Provider

Service type

Compensation

ROYAL ALLIANCE ASSOCIATES INC4 years

Service code 55

200 LIBERTY FINANCIAL CENTER · NEW YORK, NY 10281

Other Commissions

$14,719

HICKS PENSION SERVICES4 years

Filed as: HICKS PENSION GROUP

Service code 13

1218 WAIMANU ST, 2ND FLOOR · HONOLULU, HI 96814

Contract Administrator

$4,102

QUALIFIED PLANS, LLC4 years

Filed as: QUALIFIED SERVICES INC

Service code 13

Contract Administrator

$1,367

JOHN HANCOCK LIFE INSURANCE COMPANY4 years

Filed as: JOHN HANCOCK LIFE INSURANCE CO USA

Service code 15 · EIN 01-0233346

Recordkeeping

$326

QUALIFED PLAN ADMINISTRATORS INC.4 years

Filed as: QUALIFED SERVICES INC

Service code 13

555 CHORRO STREET, SUITE C · SAN LUIS OBISPO, CA 93405

Contract Administrator

BACON UNIVERSAL CO., INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BACON UNIVERSAL 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