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Benchmarking Michael Skurnik Wines, Inc. 401(K) Profit Sharing Plan & Trust in Jericho, NY against all plans

 

Of all the 160 plans whose industry group is Beer, Wine, and Distilled Alcoholic Beverage Merchant Wholesalers, only Michael Skurnik Wines, Inc. 401(K) Profit Sharing Plan & Trust in Jericho, NY has both such a high average account balance ($129,602) and such a high yield on beginning-of-plan-year total assets (15.80%).

So, any other plan with as high an average account balance also has lower yield on beginning-of-plan-year total assets. Likewise, any other plan with as high a yield on beginning-of-plan-year total assets also has lower average account balance.

Note: average account balance = total assets ÷ total participants

Michael Skurnik Wines, Inc. 401(K) Profit Sharing Plan & Trust has these standings among those 160 peer plans:

  • average account balance = $129,602 (25th-highest)

  • total assets = $23,328,293 (57th-most)

  • total participants = 180 (51st-fewest, tied)



Note: yield on beginning-of-plan-year total assets =
(100 * net earnings on investments) ÷ total assets at beginning of plan year

Michael Skurnik Wines, Inc. 401(K) Profit Sharing Plan & Trust has these standings among those 160 peer plans:

  • yield on beginning-of-plan-year total assets = 15.80% (23rd-highest, tied)

  • net earnings on investments = $3,193,730 (43rd-highest)

  • total assets at beginning of plan year = $20,216,935 (61st-most)

and these values satisfy the maximum allowed for calculating yield from beginning assets:

  • asset transfers to this plan = $0

  • asset transfers from this plan = $0

and these values provide further relevant context:

  • cash contributions from participants = $1,153,311

  • cash contributions from employers = $474,660

  • total contributions = $1,732,733

Visualize

 
 

Peers

closest are Atlas Distributing 401(K) Plan in Auburn, MA ($139,083, 15.17%), Frank B. Fuhrer Holdings, Inc. 401(K) Profit Sharing Plan in Pittsburgh, PA ($208,638, 14.98%), Brescome Barton, Inc. Retirement & Savings Plan for Liquor Sales Union Local 2-D in North Haven, CT ($144,337, 14.72%), and Antonio Origlio, Inc. Profit Sharing Plan in Philadelphia, PA ($178,944, 14.66%), ending with Peerless Beverage Company 401(K) Profit Sharing Plan in Union, NJ ($276,845, 5.72%).

References

  1. average account balance. Higher values are better. Average account balance equals total assets, in Line 1f(b) from Schedule H, divided by total participants, in Line 6f of Form 5500. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
  2. whose industry group is. The industry group is the first four digits from the six-digit NAICS business code, Line 2d in Form 5500, which best describes the nature of the plan sponsor’s business, from the available list. If more than one employer or employee organization is involved, filers are asked to enter the business code for the main business activity of the employer and/or employee organizations. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
  3. yield on beginning-of-plan-year total assets. Higher values are better. To qualify, the total assets at the beginning of the plan year must be above zero, and either (1) both the asset transfers to the plan and asset transfers from the plan during the plan year must be zero, or (2) the sum of the absolute values of both asset transfers must be less than 1% of the total assets at the beginning of the plan year. If it qualifies, the yield on beginning-of-plan-year total assets (as a percentage) equals net earnings on investments divided by total assets at the beginning of the plan year, times 100. The above quantities are all from Schedule H: Assets transfer to the plan is Line 2l(1). Assets transfer from the plan is Line 2l(2). Net earnings on investments is the sum of the ten column (b) entries from 2b, minus investment advisory and management fees (Line 2i(3)). Total assets at the beginning of the plan year is Line 1f(a). Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.