Retirement plan

INDIANA FURNITURE COMPANIES EMPLOYEE 401(K) PLAN

Name: INDIANA FURNITURE INDUSTRIES, INC. - INDIANA FURNITURE COMPANIES EMPLOYEE 401(K) PLAN (2024) Form 5500
Creator: INDIANA FURNITURE INDUSTRIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INDIANA FURNITURE COMPANIES EMPLOYEE 401(K) PLAN, INDIANA FURNITURE INDUSTRIES, INC.

INDIANA FURNITURE INDUSTRIES, INC.EIN 35-0408870Plan #003PY 2024

P.O. BOX 270 - JASPER, IN 47547812-482-5727

Prospect flagsLow employer contributionFailed to provide benefitCorrective distributions

How to read this page

Total assets (EOY)

$18.5M

+12.8% from 2023

Total participants

378

+1.6% from 2023

Average account balance

$52,129

+14.1% from 2023

Annual return

13.00%

-4.91 pp from 2023

Benchmarks

See 2,379 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,379 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$18.45M

Not enough data

1 years with asset history on file

Average account balance

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

$52K

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.

354

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.

92.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.65M

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

+13.00%

Not enough data

1 years with return on file

Admin fee / account holder

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

$225

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
FIDELITY INVESTMENTS INSTITUTIONAL10+ years Service code 64 · EIN 04-2647786	Recordkeeping Fees	$49,196
GERMAN AMERICAN FIN ADV AND TR CO7 years Service code 27 · EIN 82-0560956	Advisory (Plan)	$20,000
HARDING LOEVNER LP2 years Filed as: HARDING, SHYMANSKI & COMPANY, P.S. Service code 10 · EIN 35-1346211	Accounting	$10,400

Plan features & details

Pension benefit codes2F2E2G2J2K2S2T3D

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 employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$80K

$247 / participant

Recordkeeping$49K61.8%
Investment mgmt$20K25.1%
Other / not subdivided$10K13.1%

% of EOY assets

0.431%

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: HARDING, SHYMANSKI AND CO., P.S.C.
Auditor EIN: 351346211
Audit fees: $10,400
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$52,129

$89,123-41.5%

$102,460-49.1%

$77,762-33.0%

Participation rate

92.5%

80.9%+11.6pp

76.5%+16.0pp

70.6%+22.0pp

Annual return

13.00%

25.05%-12.1pp

29.47%-16.5pp

31.27%-18.3pp

Employer contribution / active EE

$803

$2,700-70.3%

$3,025-73.5%

$2,728-70.6%

Participant deferral / active EE

$4,336

$5,148-15.8%

$5,056-14.2%

$4,651-6.8%

Admin fee / account holder

$225

$236-4.7%

$9,460-97.6%

$433-48.1%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL10+ years

Service code 64 · EIN 04-2647786

Recordkeeping Fees

$49,196

GERMAN AMERICAN FIN ADV AND TR CO7 years

Service code 27 · EIN 82-0560956

Advisory (Plan)

$20,000

HARDING LOEVNER LP2 years

Filed as: HARDING, SHYMANSKI & COMPANY, P.S.

Service code 10 · EIN 35-1346211

Accounting

$10,400

INDIANA FURNITURE COMPANIES EMPLOYEE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INDIANA FURNITURE COMPANIES EMPLOYEE 401(K) 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