Retirement plan

NOVELTY, INC. 401(K) PLAN

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

NOVELTY, INC.EIN 35-1654788Plan #001PY 2016

351 W. MUSKEGON DRIVE - GREENFIELD, IN 461403071317-462-3121noveltyinc.comLinkedIn201-500 employeesconsumer goods

Prospect flagsHigh feesLow participationLow employer contributionLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$2.6M

+14.4% from 2015

Total participants

113

-8.1% from 2015

Average account balance

$38,769

+7.5% from 2015

Annual return

9.58%

+9.76 pp from 2015

Benchmarks

See 155 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Cohort155 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.90M

Not enough data

1 years with asset history on file

Average account balance

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

$78K

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.

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.

72.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$558K

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

+12.87%

Not enough data

1 years with return on file

Admin fee / account holder

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

$9886

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

0 years with F_SCH_H allocation on file

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Service providers

Top 10 of 11 by compensation

Provider	Service type	Compensation
BKD, LLP2+ years Filed as: BKD CPA'S & ADVISORS Service code 10 · EIN 44-0160260	Accounting	$11,016
UBS FINANCIAL SERVICES INC2+ years Filed as: UBS FINANCIAL SERVICES Service code 50 · EIN 13-2638166	Direct Payment	$7,058
BENESCH FRIEDLANDER COPLAN & ARONO2+ years Filed as: BENESCH FRIEDLANDER COPLAN ARONOFF Service code 29 · EIN 34-6596918	Legal	$2,862
MASSACHUSETTS MUTUAL LIFE INS. CO.1 year Filed as: MASSMUTUAL RETIREMENT SERVICES LLC Service code 15 · EIN 26-1589907	Recordkeeping	$865
SIKICH LLP2+ years Service code 10 · EIN 36-3168081	Accounting	$755
RELIANCE TRUST COMPANY2+ years Service code 19 · EIN 58-1428634	Securities Custodian	$282
MESIROW FINANCIAL INVESTMENT MANAGE1 year Filed as: MEISROW FINANCIAL INVESTMENT MANAGE Service code 49	Other Services	$22
MORNINGSTAR1 year Filed as: MORNIGNSTAR ASSOCIATES, LLC Service code 49	Other Services	$16
MASSACHUSETTS MUTUAL LIFE INS. CO.2+ years Filed as: MASSMUTUAL RETIREMENT SERVICES, LLC Service code 52	Indirect Investment Fees	$0
MESIROW FINANCIAL INVESTMENT MANAGE1 year Filed as: MESIROW FINANCIAL INVEST MGT, INC. Service code 49 · EIN 36-3429599	Other Services	$0

Plan features & details

Pension benefit codes2E2F2G2J2K3D2T

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

6 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$21K

$210 / participant

Other / not subdivided$21K100.0%

% of EOY assets

0.800%

all-in expense ratio

Categories reported

0 / 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: BKD, LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$38,769

$174,380-77.8%

$108,582-64.3%

Participation rate

53.5%

70.3%-16.8pp

79.6%-26.0pp

Annual return

9.58%

1.91%+7.7pp

-51.70%+61.3pp

Employer contribution / active EE

$527

$1,536-65.7%

$3,758-86.0%

Participant deferral / active EE

$1,943

$2,685-27.6%

$4,311-54.9%

Admin fee / account holder

$310

$13,800-97.8%

$7,645-95.9%

Provider

Service type

Compensation

BKD, LLP2+ years

Filed as: BKD CPA'S & ADVISORS

Service code 10 · EIN 44-0160260

Accounting

$11,016

UBS FINANCIAL SERVICES INC2+ years

Filed as: UBS FINANCIAL SERVICES

Service code 50 · EIN 13-2638166

Direct Payment

$7,058

BENESCH FRIEDLANDER COPLAN & ARONO2+ years

Filed as: BENESCH FRIEDLANDER COPLAN ARONOFF

Service code 29 · EIN 34-6596918

Legal

$2,862

MASSACHUSETTS MUTUAL LIFE INS. CO.1 year

Filed as: MASSMUTUAL RETIREMENT SERVICES LLC

Service code 15 · EIN 26-1589907

Recordkeeping

$865

SIKICH LLP2+ years

Service code 10 · EIN 36-3168081

Accounting

$755

RELIANCE TRUST COMPANY2+ years

Service code 19 · EIN 58-1428634

Securities Custodian

$282

MESIROW FINANCIAL INVESTMENT MANAGE1 year

Filed as: MEISROW FINANCIAL INVESTMENT MANAGE

Service code 49

Other Services

$22

MORNINGSTAR1 year

Filed as: MORNIGNSTAR ASSOCIATES, LLC

Service code 49

Other Services

$16

MASSACHUSETTS MUTUAL LIFE INS. CO.2+ years

Filed as: MASSMUTUAL RETIREMENT SERVICES, LLC

Service code 52

Indirect Investment Fees

MESIROW FINANCIAL INVESTMENT MANAGE1 year

Filed as: MESIROW FINANCIAL INVEST MGT, INC.

Service code 49 · EIN 36-3429599

Other Services

NOVELTY, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NOVELTY, INC. 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