Retirement plan

KYANITE MINING CORPORATION EMPLOYEES' 401(K) SAVINGS AND PROFIT-SHARING PLAN

Name: KYANITE MINING CORPORATION - KYANITE MINING CORPORATION EMPLOYEES' 401(K) SAVINGS AND PROFIT-SHARING PLAN (2017) Form 5500
Creator: KYANITE MINING CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KYANITE MINING CORPORATION EMPLOYEES' 401(K) SAVINGS AND PROFIT-SHARING PLAN, KYANITE MINING CORPORATION

KYANITE MINING CORPORATIONEIN 20-2599676Plan #001PY 2017

30 WILLIS MOUNTAIN PLANT LANE - DILLWYN, VA 239363433434-983-2085kyanite.comLinkedIn51-200 employeesmining & metals

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$26.8M

+5.9% from 2016

Total participants

156

-1.9% from 2016

Average account balance

$176,095

+5.2% from 2016

Annual return

8.32%

+9.71 pp from 2016

Benchmarks

See 301 peers

Peer group

Industry21 - Mining, Quarrying, and Oil and Gas Extraction

Plan typeDefined contribution

Participants100-249

Cohort301 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$24.92M

Not enough data

1 years with asset history on file

Average account balance

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

$170K

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.

147

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.

90.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.05M

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

+3.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

$744

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

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

Service providers

Top 6 by compensation

Provider	Service type	Compensation
BB&T1 year Service code 21 · EIN 56-1368984	Bank Trustee	$86,363
THOMPSON, SIEGEL & WALMSLEY2+ years Service code 27 · EIN 54-0854395	Advisory (Plan)	$55,542
BB&T IIA1 year Service code 27 · EIN 57-0956597	Advisory (Plan)	$15,665
ELMORE, HUPP & COMPANY, PLC1 year Filed as: ELMORE, HUPP & COMPANY, P.L.C. Service code 10 · EIN 54-1440048	Accounting	$10,489
WILLIAMS MULLEN1 year Filed as: WILLIAMS MULLEN CLARK & DOBBINS, PC Service code 29 · EIN 54-1246519	Legal	$10,393
STRAGETIC RETIREMENT PARTNERS1 year Service code 17 · EIN 35-2552359	Pension Consulting	$6,250

Plan features & details

Pension benefit codes2E2F2H2J2T3H

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).
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$177K

$1354 / participant

Investment mgmt$161K90.6%
Other / not subdivided$17K9.4%

% of EOY assets

0.663%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: ELMORE, HUPP & COMPANY, P.L.C.
Auditor EIN: 541440048
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$176,095

$66,180+166.1%

$118,746+48.3%

$62,293+182.7%

Participation rate

96.9%

71.3%+25.7pp

78.3%+18.7pp

69.5%+27.4pp

Annual return

8.32%

60.89%-52.6pp

24.54%-16.2pp

28.90%-20.6pp

Employer contribution / active EE

$7,013

$3,183+120.3%

$4,193+67.3%

$2,042+243.4%

Participant deferral / active EE

$2,628

$4,247-38.1%

$5,332-50.7%

$3,169-17.1%

Admin fee / account holder

$1,167

$753+54.9%

$10,720-89.1%

$479+143.5%

Provider

Service type

Compensation

BB&T1 year

Service code 21 · EIN 56-1368984

Bank Trustee

$86,363

THOMPSON, SIEGEL & WALMSLEY2+ years

Service code 27 · EIN 54-0854395

Advisory (Plan)

$55,542

BB&T IIA1 year

Service code 27 · EIN 57-0956597

Advisory (Plan)

$15,665

ELMORE, HUPP & COMPANY, PLC1 year

Filed as: ELMORE, HUPP & COMPANY, P.L.C.

Service code 10 · EIN 54-1440048

Accounting

$10,489

WILLIAMS MULLEN1 year

Filed as: WILLIAMS MULLEN CLARK & DOBBINS, PC

Service code 29 · EIN 54-1246519

Legal

$10,393

STRAGETIC RETIREMENT PARTNERS1 year

Service code 17 · EIN 35-2552359

Pension Consulting

$6,250

KYANITE MINING CORPORATION EMPLOYEES' 401(K) SAVINGS AND PROFIT-SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KYANITE MINING CORPORATION EMPLOYEES' 401(K) SAVINGS AND PROFIT-SHARING 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