Retirement plan

K & B MACHINE WORKS, LLC 401(K) PROFIT SHARING PLAN

Name: K & B MACHINE WORKS, LLC - K & B MACHINE WORKS, LLC 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: K & B MACHINE WORKS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, K & B MACHINE WORKS, LLC 401(K) PROFIT SHARING PLAN, K & B MACHINE WORKS, LLC

K & B MACHINE WORKS, LLCEIN 26-2531023Plan #001PY 2024

208 REBECCA'S POND ROAD - SCHRIEVER, LA 70395985-868-6730kb-machine.comLinkedIn201-500 employeeselectrical/electronic manufacturing

Prospect flagsLow returnsLow assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$17.8M

+14.1% from 2023

Total participants

676

+22.5% from 2023

Average account balance

$31,554

+5.2% from 2023

Annual return

11.01%

-7.80 pp from 2023

Benchmarks

See 2,380 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,380 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.80M

Not enough data

1 years with asset history on file

Average account balance

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

$32K

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.

564

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.

80.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.63M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+11.01%

Not enough data

1 years with return on file

Admin fee / account holder

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

$54

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 3 by compensation

Provider	Service type	Compensation
LPL FINANCIAL9 years Filed as: LPL FINANCIAL LLC Service code 55 · EIN 04-3046611	Other Commissions	$33,379
FIDELITY INVESTMENTS INSTITUTIONAL10+ years Service code 37 · EIN 04-2647786	Loan Processing	$17,159
MARTIN AND PELLEGRIN, CPAS10+ years Service code 10 · EIN 72-1111438	Accounting	$13,500

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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 returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$31K

$53 / participant

Recordkeeping$17K56.0%
Other / not subdivided$14K44.0%

% of EOY assets

0.172%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MARTIN & PELLEGRIN
Auditor EIN: 721111438
Audit fees: $13,500
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$31,554

$89,093-64.6%

$102,434-69.2%

$77,736-59.4%

Participation rate

80.7%

80.9%-0.2pp

76.5%+4.2pp

70.6%+10.1pp

Annual return

11.01%

25.03%-14.0pp

29.46%-18.4pp

31.26%-20.3pp

Employer contribution / active EE

$1,705

$2,699-36.8%

$3,023-43.6%

$2,728-37.5%

Participant deferral / active EE

$2,836

$5,147-44.9%

$5,055-43.9%

$4,651-39.0%

Admin fee / account holder

$54

$236-77.0%

$9,462-99.4%

$433-87.5%

Provider

Service type

Compensation

LPL FINANCIAL9 years

Filed as: LPL FINANCIAL LLC

Service code 55 · EIN 04-3046611

Other Commissions

$33,379

FIDELITY INVESTMENTS INSTITUTIONAL10+ years

Service code 37 · EIN 04-2647786

Loan Processing

$17,159

MARTIN AND PELLEGRIN, CPAS10+ years

Service code 10 · EIN 72-1111438

Accounting

$13,500

K & B MACHINE WORKS, LLC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

K & B MACHINE WORKS, LLC 401(K) 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