Retirement plan

IVEK CORPORATION 401(K) PLAN

Name: IVEK CORPORATION - IVEK CORPORATION 401(K) PLAN (2023) Form 5500
Creator: IVEK CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IVEK CORPORATION 401(K) PLAN, IVEK CORPORATION

IVEK CORPORATIONEIN 03-0272922Plan #001PY 2023

10 FAIRBANKS ROAD - N. SPRINGFIELD, VT 05150802-886-2238ivek.comLinkedIn51-200 employeesmachinery

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$15.6M

+15.3% from 2022

Total participants

149

-8.6% from 2022

Average account balance

$110,034

+28.3% from 2022

Annual return

12.18%

+24.21 pp from 2022

Benchmarks

See 4,137 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,137 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.92M

Not enough data

1 years with asset history on file

Average account balance

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

$123K

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.

129

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.

97.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$821K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+9.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$129

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 3 by compensation

Provider	Service type	Compensation
VALMARK ADVISERS INC3 years Filed as: VALMARK ADVISERS, INC Service code 99 · EIN 31-1509466	Other Fees	$21,810
VOYA RETIREMENT INSURANCE & ANNUITY4 years Service code 26 · EIN 71-0294708	Advisory (Participants)	$9,195
IVEK CORPORATION3 years Service code 99 · EIN 03-0272922	Other Fees	$6,152

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
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

1 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$18K

$151 / participant

Investment mgmt$9K52.3%
Contract admin$2K11.4%
Other / not subdivided$7K36.4%

% of EOY assets

0.115%

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: GALLAGHER, FLYNN & COMPANY
Auditor EIN: 030225774
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$110,034

$76,112+44.6%

$96,534+14.0%

$71,511+53.9%

Participation rate

94.1%

74.4%+19.7pp

76.0%+18.1pp

67.9%+26.2pp

Annual return

12.18%

22.81%-10.6pp

25.88%-13.7pp

28.86%-16.7pp

Employer contribution / active EE

$1,197

$2,248-46.8%

$2,965-59.6%

$2,589-53.8%

Participant deferral / active EE

$5,728

$4,217+35.8%

$4,851+18.1%

$4,291+33.5%

Admin fee / account holder

$127

$2,708-95.3%

$8,253-98.5%

$1,588-92.0%

Provider

Service type

Compensation

VALMARK ADVISERS INC3 years

Filed as: VALMARK ADVISERS, INC

Service code 99 · EIN 31-1509466

Other Fees

$21,810

VOYA RETIREMENT INSURANCE & ANNUITY4 years

Service code 26 · EIN 71-0294708

Advisory (Participants)

$9,195

IVEK CORPORATION3 years

Service code 99 · EIN 03-0272922

Other Fees

$6,152

IVEK CORPORATION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IVEK CORPORATION 401(K) 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