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 (2019) 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 2019

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)

$22.7M

-4.9% from 2018

Total participants

146

-1.4% from 2018

Average account balance

$155,189

-7.6% from 2018

Annual return

2.55%

-4.26 pp from 2018

Benchmarks

See 287 peers

Peer group

Industry21 - Mining, Quarrying, and Oil and Gas Extraction

Plan typeDefined contribution

Participants100-249

Cohort287 peers

Snapshot2019

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 4 by compensation

Provider	Service type	Compensation
BB&T3 years Service code 21 · EIN 56-1368984	Bank Trustee	$69,123
THOMPSON, SIEGEL & WALMSLEY4+ years Service code 27 · EIN 54-0854395	Advisory (Plan)	$43,669
BB&T IIA3 years Service code 27 · EIN 57-0956597	Advisory (Plan)	$16,955
ELMORE, HUPP & COMPANY, PLC4+ years Filed as: ELMORE, HUPP & COMPANY Service code 10 · EIN 54-1440048	Accounting	$10,650

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

$143K

$1240 / participant

Investment mgmt$61K42.5%
Other / not subdivided$82K57.5%

% of EOY assets

0.629%

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 AND CO.
Auditor EIN: 541440048
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$155,189

$67,703+129.2%

$127,803+21.4%

$65,185+138.1%

Participation rate

100.0%

74.5%+25.5pp

79.0%+21.0pp

70.2%+29.8pp

Annual return

2.55%

24.36%-21.8pp

26.14%-23.6pp

29.38%-26.8pp

Employer contribution / active EE

$10,284

$3,724+176.2%

$4,576+124.8%

$2,177+372.5%

Participant deferral / active EE

$2,323

$4,787-51.5%

$6,023-61.4%

$3,514-33.9%

Admin fee / account holder

$976

$618+57.9%

$9,399-89.6%

$847+15.3%

Provider

Service type

Compensation

BB&T3 years

Service code 21 · EIN 56-1368984

Bank Trustee

$69,123

THOMPSON, SIEGEL & WALMSLEY4+ years

Service code 27 · EIN 54-0854395

Advisory (Plan)

$43,669

BB&T IIA3 years

Service code 27 · EIN 57-0956597

Advisory (Plan)

$16,955

ELMORE, HUPP & COMPANY, PLC4+ years

Filed as: ELMORE, HUPP & COMPANY

Service code 10 · EIN 54-1440048

Accounting

$10,650

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