Virginia › Retail trade › 250 to 499 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Berglund Management Group, Inc. 401(k) Plan
Sponsored by Berglund Management Group, Inc., Roanoke, VA
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
Berglund Management Group, Inc. of Roanoke, Virginia sponsors Berglund Management Group, Inc. 401(k) Plan, a 401(k) plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 474 participants (405 active) and $16.8M in net assets.
Net assets came to $35,457 per participant, well below the $48,746 median for defined contribution plans with 250 to 499 participants and close to the $36,708 median for defined contribution plans in retail trade. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
Schedule C lists 4 service provider organisations paid $5,000 or more, with reported compensation of $109K: $230 per participant, well above the same-size median of $141. Administrative expenses charged to the plan were $93K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $7.0M in 2009 to $16.8M in 2024 (up 138%), and participants from 531 to 474 (down 11%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $35,457 | $48,746 | $36,708 | $53,102 |
| Employer contributions per active participant | — | $2,017 | $999 | $2,175 |
| Schedule C compensation per participant | $230 | $141 | $121 | $123 |
| Schedule C compensation, share of net assets | 0.65% | 0.30% | 0.36% | 0.26% |
| Administrative expenses per participant | $197 | $133 | $114 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 250 to 499 participants (17,456 plans), retail trade (3,794) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 474 | $16.8M | $35,458 | — | $1.4M | $109K |
| 2023 | 444 | $14.3M | $32,158 | — | $1.4M | $100K |
| 2022 | 468 | $13.3M | $28,412 | — | $1.3M | $74K |
| 2021 | 549 | $15.6M | $28,408 | — | $1.2M | $79K |
| 2020 | 745 | $14.3M | $19,162 | — | $920K | $74K |
| 2019 | 797 | $12.4M | $15,583 | — | $812K | $77K |
| 2018 | 596 | $9.7M | $16,200 | — | $755K | $74K |
| 2017 | 811 | $10.5M | $12,963 | — | $748K | $70K |
| 2016 | 912 | $9.5M | $10,409 | — | $677K | $60K |
| 2015 | 839 | $8.4M | $10,039 | $0 | $644K | $51K |
| 2014 | 698 | $8.7M | $12,443 | — | $531K | $51K |
| 2013 | 493 | $8.4M | $17,051 | — | $435K | $47K |
| 2012 | 537 | $7.9M | $14,676 | — | $277K | $34K |
| 2011 | 828 | $7.7M | $9,262 | — | $410K | $35K |
| 2010 | 783 | $7.8M | $9,971 | — | $469K | $41K |
| 2009 | 531 | $7.0M | $13,273 | $0 | $442K | $49K |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$14,277,860
- Employer contributions—
- Participant contributions$1,422,975
- Rollovers and other contributions$379,688
- Total contributions$1,802,663
- Total income, including investment results$3,674,827
- Benefits paid$1,052,580
- Administrative expenses$93,491
- Total expenses$1,146,071
- Net income$2,528,756
- Net transfers$0
- Net assets, end of year$16,806,616
Participants
- Active participants405
- Retired or separated, receiving benefits6
- Retired or separated, entitled to future benefits63
- Participants with account balances398
- Total participants, end of year474
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Principal Life Insurance Company | Contract Administrator | $61,554 | $0 |
| T. Rowe Price | Contract Administrator | $24,919 | $0 |
| Wilbanks, Smith & Thomas Asset Mana | Investment advisory (plan) | $12,358 | $2,650 |
| Cap Financial Partners, LLC | Investment advisory (plan) | $7,319 | $5 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Contract administrator fees$91,315
- Other administrative expenses$2,176
- Total administrative expenses$93,491
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Common/collective trusts$15.4M · 91.5%
- Registered investment companies (mutual funds)$1.4M · 8.5%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmWithum, Smith, & Brown, P.C.
- Participant contributions reported as transmitted lateYes, $83,870
- Covered by a fidelity bondYes, $1,000,000
- Blackout period during the yearYes
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan2JCode section 401(k) feature2KCode section 401(m) arrangement2S401(k) plan or 403(b) plan that provides for automatic enrollment2TTotal or partial participant-directed account plan with a default investment account3DPre-approved pension plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 441110: New Car Dealers.
Similar plans in Virginia
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Ted Britt Ford Sales, Inc. 401(k) Profit Sharing Plan | Ted Britt Ford Sales, Inc. | 481 | $29.8M | $61,879 |
| Extended Service Corporation 401(k) Plan | Extended Service Corp. | 462 | $17.0M | $36,799 |
| Schewel Furniture Company, Inc. 401(k) Retirement Plan | Schewel Furniture Company, Inc. | 488 | $14.7M | $30,070 |
| Haynes Furniture Company Retirement Savings Plan | Haynes Furniture Company, Inc. | 447 | $14.6M | $32,707 |
| First Team Automotive/hampton Motor Corporation 401(k) Plan | Automotive Resource Development Group, LLC | 500 | $19.6M | $39,218 |
| Meadows Farms, Inc. 401(k) Profit Sharing Plan | Meadows Farms, Inc. | 431 | $28.1M | $65,133 |
Defined contribution plans in retail trade closest in size.
Questions and answers
How big is Berglund Management Group, Inc. 401(k) Plan?
474 participants at the end of the plan year ending 31 Dec 2024, of whom 405 were active employees, with net assets of $16,806,616. Among defined contribution plans that places it in the 250 to 499 participants band, which held 17,456 plans in plan year 2024.
What does Berglund Management Group, Inc. contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports $108,805 in compensation to service provider organisations, $230 per participant or 0.65% of net assets. The same-size median among plans reporting any Schedule C compensation was $141 per participant. Administrative expenses on Schedule H were $93,491. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Berglund Management Group, Inc.. Recordkeeping or administration: Principal Life Insurance Company and T. Rowe Price. Investment advisory or management: Wilbanks, Smith & Thomas Asset Mana and Cap Financial Partners, LLC. The financial statements were audited by Withum, Smith, & Brown, P.C.. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 10 Oct 2025. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 54-1375337, plan 001, received 10 Oct 2025; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.