Retirement plan

OHIO VALLEY ELECTRICAL SERVICES, INC. 401(K) RETIREMENT PLAN

Name: OHIO VALLEY ELECTRICAL SERVICES, INC. - OHIO VALLEY ELECTRICAL SERVICES, INC. 401(K) RETIREMENT PLAN (2023) Form 5500
Creator: OHIO VALLEY ELECTRICAL SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OHIO VALLEY ELECTRICAL SERVICES, INC. 401(K) RETIREMENT PLAN, OHIO VALLEY ELECTRICAL SERVICES, INC.

OHIO VALLEY ELECTRICAL SERVICES, INC.EIN 01-0706901Plan #001PY 2023

4585 CORNELL ROAD - BLUE ASH, OH 452412439513-771-2410ohiovalleyelectric.comLinkedIn51-200 employeesconstruction

Other plans on this EIN

1 filing

#002Retirement-$12.6M assets

Prospect flagsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$13M

+13.9% from 2022

Total participants

182

+11.7% from 2022

Average account balance

$89,254

+4.5% from 2022

Annual return

17.53%

+32.71 pp from 2022

Benchmarks

See 3,251 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,251 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$14.94M

Not enough data

1 years with asset history on file

Average account balance

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

$98K

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.

153

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.

83.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$860K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+14.07%

Not enough data

1 years with return on file

Admin fee / account holder

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

$220

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 5 by compensation

Provider	Service type	Compensation
NATIONWIDE5 years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$66,523
IRON-CO-FID-COMPREHENSIVE5 years Filed as: IRON-CO-FID--COMPREHENSIVE Service code 27 · EIN 26-2409128 5440 W 110TH ST · SHAWNEE MISSION, KS 66211	Advisory (Plan)	$7,298
BLUE CHIP RETIREMENT PLANS, INC.5 years Filed as: BLUE RIDGE ESOP ASSOCIATES Service code 13 · EIN 13-4238973 154 HANSEN ROAD, SUITE 102 · CHARLOTTESVILLE, VA 22911	Contract Administrator	$2,235
LINCOLN NATIONAL CORPORATION1 year Filed as: LINCOLN FINANCIAL ADVISORS COR Service code 28 1301 S CLINTON ST · FORT WAYNE, IN 46802	Investment Management	$0
LPL FINANCIAL1 year Filed as: LPL FINANCIAL LLC Service code 28 4707 EXECUTIVE DR. · SAN DIEGO, CA 92121	Investment Management	$0

Plan features & details

Pension benefit codes2E2J2K2F2G3D2T

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$76K

$464 / participant

Investment mgmt$29K37.8%
Contract admin$47K62.2%

% of EOY assets

0.584%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: KATZ, SAPPER & MILLER, LLP
Auditor EIN: 351090346
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$89,254

$76,696+16.4%

$96,538-7.5%

$71,529+24.8%

Participation rate

78.0%

66.6%+11.5pp

74.3%+3.7pp

67.9%+10.1pp

Annual return

17.53%

48.32%-30.8pp

35.74%-18.2pp

28.97%-11.4pp

Employer contribution / active EE

$1,407

$3,032-53.6%

$3,740-62.4%

$2,590-45.7%

Participant deferral / active EE

$3,769

$3,7700%

$4,880-22.8%

$4,291-12.2%

Admin fee / account holder

$521

$2,030-74.3%

$6,737-92.3%

$1,588-67.2%

Provider

Service type

Compensation

NATIONWIDE5 years

Service code 15

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$66,523

IRON-CO-FID-COMPREHENSIVE5 years

Filed as: IRON-CO-FID--COMPREHENSIVE

Service code 27 · EIN 26-2409128

5440 W 110TH ST · SHAWNEE MISSION, KS 66211

Advisory (Plan)

$7,298

BLUE CHIP RETIREMENT PLANS, INC.5 years

Filed as: BLUE RIDGE ESOP ASSOCIATES

Service code 13 · EIN 13-4238973

154 HANSEN ROAD, SUITE 102 · CHARLOTTESVILLE, VA 22911

Contract Administrator

$2,235

LINCOLN NATIONAL CORPORATION1 year

Filed as: LINCOLN FINANCIAL ADVISORS COR

Service code 28

1301 S CLINTON ST · FORT WAYNE, IN 46802

Investment Management

LPL FINANCIAL1 year

Filed as: LPL FINANCIAL LLC

Service code 28

4707 EXECUTIVE DR. · SAN DIEGO, CA 92121

Investment Management

OHIO VALLEY ELECTRICAL SERVICES, INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OHIO VALLEY ELECTRICAL SERVICES, INC. 401(K) RETIREMENT 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