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 (2022) 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 2022

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

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$26.9M

+5.1% from 2021

Total participants

161

+6.6% from 2021

Average account balance

$189,527

+11.8% from 2021

Annual return

4.30%

-30.80 pp from 2021

Benchmarks

See 274 peers

Peer group

Industry21 - Mining, Quarrying, and Oil and Gas Extraction

Plan typeDefined contribution

Participants100-249

Cohort274 peers

Snapshot2022

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 5 by compensation

Provider	Service type	Compensation
ASCENSUS LLC1 year Service code 15 · EIN 11-3665754	Recordkeeping	$58,359
THOMPSON, SIEGEL & WALMSLEY1 year Filed as: THOMPSON,SIEGEL WALMSLEY Service code 27 · EIN 54-0854395	Advisory (Plan)	$46,329
ONEDIGITAL INVESTMENT ADVISORS LLC1 year Filed as: ONE DIGITAL INVESTMENT ADVISORS Service code 27 4860 COLLEGE BLVD · OVERLAND PARK, KS 66211	Advisory (Plan)	$44,806
ELMORE, HUPP & COMPANY, PLC7+ years Filed as: ELMORE, HUPP & COMPANY Service code 10 · EIN 54-1440048	Accounting	$27,565
GLOBAL RETIREMENT PARTNERS LLC1 year Filed as: GLOBAL RETIREMENT PARTNERS Service code 27 4340 REDWOOD HIGHWAY · SAN RAFAEL, CA 94903	Advisory (Plan)	$7,500

Plan features & details

Pension benefit codes2E3D2H2J2F2T3H

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.
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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$185K

$1420 / participant

Investment mgmt$91K49.4%
Contract admin$58K31.6%
Other / not subdivided$35K19.0%

% of EOY assets

0.686%

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: ELMORE HUPP AND CO.
Auditor EIN: 541440048
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$189,527

$64,871+192.2%

$129,110+46.8%

$66,930+183.2%

Participation rate

85.4%

74.0%+11.4pp

77.3%+8.1pp

69.8%+15.6pp

Annual return

4.30%

-12.21%+16.5pp

-10.94%+15.2pp

1.57%+2.7pp

Employer contribution / active EE

$6,927

$3,741+85.2%

$5,052+37.1%

$2,545+172.2%

Participant deferral / active EE

$2,620

$5,090-48.5%

$6,542-60.0%

$4,238-38.2%

Admin fee / account holder

$1,300

$629+106.6%

$14,302-90.9%

$593+119.0%

Provider

Service type

Compensation

ASCENSUS LLC1 year

Service code 15 · EIN 11-3665754

Recordkeeping

$58,359

THOMPSON, SIEGEL & WALMSLEY1 year

Filed as: THOMPSON,SIEGEL WALMSLEY

Service code 27 · EIN 54-0854395

Advisory (Plan)

$46,329

ONEDIGITAL INVESTMENT ADVISORS LLC1 year

Filed as: ONE DIGITAL INVESTMENT ADVISORS

Service code 27

4860 COLLEGE BLVD · OVERLAND PARK, KS 66211

Advisory (Plan)

$44,806

ELMORE, HUPP & COMPANY, PLC7+ years

Filed as: ELMORE, HUPP & COMPANY

Service code 10 · EIN 54-1440048

Accounting

$27,565

GLOBAL RETIREMENT PARTNERS LLC1 year

Filed as: GLOBAL RETIREMENT PARTNERS

Service code 27

4340 REDWOOD HIGHWAY · SAN RAFAEL, CA 94903

Advisory (Plan)

$7,500

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