Retirement plan

KERRY FORD INC. EMPLOYEE SAVINGS & RETIREMENT PLAN

Name: KERRY FORD INC - KERRY FORD INC. EMPLOYEE SAVINGS & RETIREMENT PLAN (2023) Form 5500
Creator: KERRY FORD INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KERRY FORD INC. EMPLOYEE SAVINGS & RETIREMENT PLAN, KERRY FORD INC

KERRY FORD INCEIN 31-0729115Plan #001PY 2023

155 W KEMPER ROAD - CINCINNATI, OH 45246513-671-6400kerryford.comLinkedIn11-50 employeesautomotive

Prospect flagsLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$13.3M

+25.1% from 2022

Total participants

406

+3.0% from 2022

Average account balance

$35,779

+20.4% from 2022

Annual return

18.05%

+33.43 pp from 2022

Benchmarks

See 1,316 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,316 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$14.98M

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

361

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.

83.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.27M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+13.13%

Not enough data

1 years with return on file

Admin fee / account holder

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

$224

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
VALMARK ADVISERS INC3 years Filed as: VALMARK SECURITIES INC. Service code 15 · EIN 31-1509466	Recordkeeping	$27,912
ADP BROKER-DEALER4 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745	Recordkeeping	$8,562
ADP BROKER-DEALER9+ years Service code 49 · EIN 22-3319984	Other Services	$0

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D3H

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.
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.
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

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$36K

$112 / participant

Recordkeeping$9K23.5%
Investment mgmt$28K76.5%

% of EOY assets

0.275%

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: PLANTE AND MORAN PLLC
Auditor EIN: 381357951
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$35,779

$53,165-32.7%

$86,216-58.5%

$74,460-51.9%

Participation rate

89.3%

64.9%+24.4pp

69.0%+20.3pp

70.7%+18.5pp

Annual return

18.05%

22.64%-4.6pp

1169.42%-1151.4pp

34.38%-16.3pp

Employer contribution / active EE

$26

$1,210-97.9%

$2,382-98.9%

$2,638-99.0%

Participant deferral / active EE

$4,099

$3,234+26.7%

$3,986+2.8%

$4,530-9.5%

Admin fee / account holder

$98

$551-82.2%

$6,853-98.6%

$348-71.7%

Provider

Service type

Compensation

VALMARK ADVISERS INC3 years

Filed as: VALMARK SECURITIES INC.

Service code 15 · EIN 31-1509466

Recordkeeping

$27,912

ADP BROKER-DEALER4 years

Filed as: ADP, INC.

Service code 15 · EIN 13-3036745

Recordkeeping

$8,562

ADP BROKER-DEALER9+ years

Service code 49 · EIN 22-3319984

Other Services

KERRY FORD INC. EMPLOYEE SAVINGS & RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KERRY FORD INC. EMPLOYEE SAVINGS & RETIREMENT 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