Retirement plan

KERN MACHINERY COMPANIES 401K PLAN AND TRUST

Name: KERN MACHINERY, INC. - KERN MACHINERY COMPANIES 401K PLAN AND TRUST (2016) Form 5500
Creator: KERN MACHINERY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KERN MACHINERY COMPANIES 401K PLAN AND TRUST, KERN MACHINERY, INC.

KERN MACHINERY, INC.EIN 26-0497941Plan #001PY 2016

P.O. BOX 80007 - BAKERSFIELD, CA 933800007661-399-5511kernmachinery.comLinkedIn11-50 employeesmachinery

Prospect flagsLow returnsHigh feesLow participation

How to read this page

Total assets (EOY)

$16.4M

No prior year

Total participants

234

No prior year

Average account balance

$121,659

No prior year

Annual return

3.15%

No prior year

Benchmarks

See 388 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants100-249

Cohort388 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$27.46M

Not enough data

1 years with asset history on file

Average account balance

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

$130K

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.

211

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.

91.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.28M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+11.60%

Not enough data

1 years with return on file

Admin fee / account holder

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

$463

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 7 by compensation

Provider	Service type	Compensation
CAP FINANCIAL PARTNERS, LLC1+ years Service code 27 · EIN 84-0467907 4208 SIX FORKS ROAD, SUITE 1700 · RALEIGH, NC 27609	Advisory (Plan)	$36,738
GREAT-WEST LIFE & ANNUITY INSURANCE1+ years Filed as: ADVISED ASSET GROUP Service code 28 · EIN 84-0467907 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$9,431
HOLTHOUSE CARLIN & VAN TRIGT LLP1+ years Service code 10 · EIN 95-4345526 1801 W OLYMPIC BLVD · PASADENA, CA 911991404	Accounting	$6,312
TRUOG-RYDING COMPANY, INC.1+ years Service code 13	Contract Administrator	$5,000
GREAT-WEST LIFE & ANNUITY INSURANCE1+ years Filed as: GREAT WEST LIFE & ANNUITY Service code 64 · EIN 84-0467907 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$1,800
GREAT-WEST LIFE & ANNUITY INSURANCE1+ years Filed as: GREAT-WEST LIFE & ANNUITY Service code 64 · EIN 84-0467907 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$0
THE RYDING COMPANY1+ years Service code 13 · EIN 95-3497679 2659 TOWNSGATE RD., SUITE 101 · WESTLAKE VILLAGE, CA 91361	Contract Administrator	$0

Plan features & details

Pension benefit codes2E2G2J2K2F3D2T

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.
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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$54K

$276 / participant

Contract admin$54K100.0%

% of EOY assets

0.330%

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: HOLTHOUSE CARLIN & VAN TRIGT LLP
Auditor EIN: 954345526
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$121,659

$50,643+140.2%

$106,619+14.1%

$55,167+120.5%

Participation rate

49.7%

65.6%-15.8pp

78.0%-28.2pp

69.0%-19.2pp

Annual return

3.15%

7.02%-3.9pp

9.42%-6.3pp

169.23%-166.1pp

Employer contribution / active EE

$3,192

$1,626+96.3%

$3,947-19.1%

$1,963+62.7%

Participant deferral / active EE

$3,780

$2,208+71.2%

$3,930-3.8%

$3,054+23.8%

Admin fee / account holder

$402

$488-17.6%

$6,418-93.7%

$504-20.2%

Provider

Service type

Compensation

CAP FINANCIAL PARTNERS, LLC1+ years

Service code 27 · EIN 84-0467907

4208 SIX FORKS ROAD, SUITE 1700 · RALEIGH, NC 27609

Advisory (Plan)

$36,738

GREAT-WEST LIFE & ANNUITY INSURANCE1+ years

Filed as: ADVISED ASSET GROUP

Service code 28 · EIN 84-0467907

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$9,431

HOLTHOUSE CARLIN & VAN TRIGT LLP1+ years

Service code 10 · EIN 95-4345526

1801 W OLYMPIC BLVD · PASADENA, CA 911991404

Accounting

$6,312

TRUOG-RYDING COMPANY, INC.1+ years

Service code 13

Contract Administrator

$5,000

GREAT-WEST LIFE & ANNUITY INSURANCE1+ years

Filed as: GREAT WEST LIFE & ANNUITY

Service code 64 · EIN 84-0467907

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$1,800

GREAT-WEST LIFE & ANNUITY INSURANCE1+ years

Filed as: GREAT-WEST LIFE & ANNUITY

Service code 64 · EIN 84-0467907

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

THE RYDING COMPANY1+ years

Service code 13 · EIN 95-3497679

2659 TOWNSGATE RD., SUITE 101 · WESTLAKE VILLAGE, CA 91361

Contract Administrator

KERN MACHINERY COMPANIES 401K PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KERN MACHINERY COMPANIES 401K PLAN AND TRUST

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