Retirement plan

PARK AEROSPACE CORP. EMPLOYEES' PROFIT SHARING AND 401(K) RETIREMENT SAVINGS PLAN

Name: PARK AEROSPACE CORP. - PARK AEROSPACE CORP. EMPLOYEES' PROFIT SHARING AND 401(K) RETIREMENT SAVINGS PLAN (2024) Form 5500
Creator: PARK AEROSPACE CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PARK AEROSPACE CORP. EMPLOYEES' PROFIT SHARING AND 401(K) RETIREMENT SAVINGS PLAN, PARK AEROSPACE CORP.

PARK AEROSPACE CORP.EIN 11-1734643Plan #001PY 2024

1400 OLD COUNTRY ROAD, SUITE 409 - WESTBURY, NY 11590631-465-3600

Prospect flagsLow participationLow employer contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$16.4M

+14.4% from 2023

Total participants

208

-3.7% from 2023

Average account balance

$103,881

+21.6% from 2023

Annual return

20.98%

+31.45 pp from 2023

Benchmarks

See 277 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants100-249

Cohort277 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.52M

Not enough data

1 years with asset history on file

Average account balance

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

$106K

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.

165

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.

51.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$396K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+13.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$136

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 2 by compensation

Provider	Service type	Compensation
NEWPORT GROUP, INC.5 years Service code 15 · EIN 27-2037969	Recordkeeping	$8,813
PNC BANK, N.A.9+ years Filed as: PNC BANK, NATIONAL ASSOCIATION Service code 52	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2H2J2T3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant 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

$9K

$82 / participant

Recordkeeping$2102.4%
Contract admin$9K97.6%

% of EOY assets

0.054%

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: CARON & BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$103,881

$89,225+16.4%

$135,987-23.6%

$74,429+39.6%

Participation rate

53.7%

69.4%-15.7pp

76.4%-22.7pp

67.2%-13.5pp

Annual return

20.98%

22.76%-1.8pp

580.01%-559.0pp

1368.38%-1347.4pp

Employer contribution / active EE

$401

$2,816-85.7%

$4,214-90.5%

$2,625-84.7%

Participant deferral / active EE

$2,353

$4,597-48.8%

$7,027-66.5%

$4,348-45.9%

Admin fee / account holder

$56

$1,545-96.4%

$6,716-99.2%

$1,944-97.1%

Provider

Service type

Compensation

NEWPORT GROUP, INC.5 years

Service code 15 · EIN 27-2037969

Recordkeeping

$8,813

PNC BANK, N.A.9+ years

Filed as: PNC BANK, NATIONAL ASSOCIATION

Service code 52

Indirect Investment Fees

PARK AEROSPACE CORP. EMPLOYEES' PROFIT SHARING AND 401(K) RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PARK AEROSPACE CORP. EMPLOYEES' PROFIT SHARING AND 401(K) RETIREMENT SAVINGS 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