Retirement plan

ULTRA ELECTRONICS INC. 401(K) PLAN

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

ULTRA ELECTRONICS INC.EIN 06-1506005Plan #001PY 2023

115 BAY STATE DRIVE - BRAINTREE, MA 02184203-615-4251

Prospect flagsLow returnsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$286.4M

-4.6% from 2016

Total participants

2,600

+2.3% from 2016

Average account balance

$128,768

-6.5% from 2016

Annual return

9.33%

-3.18 pp from 2016

Benchmarks

See 268 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants1,000-4,999

Cohort268 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$296.74M

Not enough data

1 years with asset history on file

Average account balance

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

$118K

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.

2,507

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.

88.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$19.77M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+11.70%

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 4 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL5 years Service code 37 · EIN 04-2647786	Loan Processing	$354,755
MERRILL LYNCH PIERCE FENNER & SMITH7 years Filed as: MERRILL LYNCH Service code 16 · EIN 13-5674085	Consulting	$82,753
STRATEGIC ADVISORS, INC.5 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$56,228
CLIFTONLARSONALLEN LLP3 years Service code 10 · EIN 41-0746749	Accounting	$28,975

Plan features & details

Pension benefit codes2F2G2J2K2S2T2E3D2R

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$523K

$302 / participant

Recordkeeping$354K67.8%
Investment mgmt$56K10.8%
Contract admin$3000.1%
Other / not subdivided$112K21.4%

% of EOY assets

0.182%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: $28,975
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$128,768

$52,960+143.1%

$86,681+48.6%

$80,187+60.6%

Participation rate

78.3%

62.4%+15.9pp

71.7%+6.6pp

72.9%+5.3pp

Annual return

9.33%

24.84%-15.5pp

593.32%-584.0pp

40.40%-31.1pp

Employer contribution / active EE

$4,026

$2,138+88.3%

$3,026+33.0%

$2,980+35.1%

Participant deferral / active EE

$9,734

$3,226+201.7%

$4,440+119.3%

$5,016+94.1%

Admin fee / account holder

$235

$113+107.7%

$5,620-95.8%

$145+62.1%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL5 years

Service code 37 · EIN 04-2647786

Loan Processing

$354,755

MERRILL LYNCH PIERCE FENNER & SMITH7 years

Filed as: MERRILL LYNCH

Service code 16 · EIN 13-5674085

Consulting

$82,753

STRATEGIC ADVISORS, INC.5 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$56,228

CLIFTONLARSONALLEN LLP3 years

Service code 10 · EIN 41-0746749

Accounting

$28,975

ULTRA ELECTRONICS INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ULTRA ELECTRONICS INC. 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