Retirement plan

AKERS PACKAGING SERVICE, INC. 401(K) PROFIT SHARING PLAN

Name: AKERS PACKAGING SERVICE, INC. - AKERS PACKAGING SERVICE, INC. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: AKERS PACKAGING SERVICE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AKERS PACKAGING SERVICE, INC. 401(K) PROFIT SHARING PLAN, AKERS PACKAGING SERVICE, INC.

AKERS PACKAGING SERVICE, INC.EIN 31-0671096Plan #002PY 2023

2820 LEFFERSON RD - MIDDLETOWN, OH 45044513-422-6312

Other plans on this EIN

2 filings

#001Retirement-$2.2M assets #003Retirement-$892K assets

Prospect flagsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$41.5M

+57.3% from 2022

Total participants

569

+129.4% from 2022

Average account balance

$77,709

-27.2% from 2022

Annual return

57.50%

+75.03 pp from 2022

Benchmarks

See 1,153 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort1,153 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$48.33M

Not enough data

1 years with asset history on file

Average account balance

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

$85K

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.

566

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.

91.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.75M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+17.07%

Not enough data

1 years with return on file

Admin fee / account holder

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

$53

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 2 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY7 years Filed as: MORGAN STANLEY SMITH BARNEY LLC Service code 27 · EIN 20-8764829	Advisory (Plan)	$26,000
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 60 · EIN 04-2647786	Sub-TA Fees	$1,797

Plan features & details

Pension benefit codes2E2F2G2J3H3D2R

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

2 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$28K

$56 / participant

Recordkeeping$2K6.5%
Other / not subdivided$26K93.5%

% of EOY assets

0.067%

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: CLARK SCHAEFER HACKETT
Auditor EIN: 310800053
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$77,709

$84,784-8.3%

$98,461-21.1%

$74,460+4.4%

Participation rate

92.9%

81.5%+11.4pp

75.2%+17.8pp

70.7%+22.2pp

Annual return

57.50%

20.59%+36.9pp

21.17%+36.3pp

34.38%+23.1pp

Employer contribution / active EE

$1,901

$3,364-43.5%

$3,049-37.7%

$2,638-28.0%

Participant deferral / active EE

$4,429

$5,218-15.1%

$4,738-6.5%

$4,530-2.2%

Admin fee / account holder

$52

$204-74.5%

$8,961-99.4%

$348-85.0%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY7 years

Filed as: MORGAN STANLEY SMITH BARNEY LLC

Service code 27 · EIN 20-8764829

Advisory (Plan)

$26,000

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 60 · EIN 04-2647786

Sub-TA Fees

$1,797

AKERS PACKAGING SERVICE, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AKERS PACKAGING SERVICE, INC. 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