Retirement plan

KARMAK, INC. 401(K) PROFIT SHARING PLAN AND TRUST

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

KARMAK, INC.EIN 37-1112601Plan #001PY 2016

P.O. BOX 680 - CARLINVILLE, IL 62626217-854-4721karmak.comLinkedIn201-500 employeescomputer software

Other plans on this EIN

1 filing

#002Retirement-$1.6M assets

Prospect flagsFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed December 19, 2022

Plan administrator

Plan administrator name— Sign in and upgrade to view

1 Karmak Plaza

Carlinville, IL 62626

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Plans declared (1)

Karmak, Inc. Supplemental Executive Retirement Plan7 emp

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Total assets (EOY)

$15.9M

+17.3% from 2015

Total participants

287

+16.2% from 2015

Average account balance

$67,856

+0.3% from 2015

Annual return

19.58%

+18.91 pp from 2015

Benchmarks

See 5,032 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,032 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$27.78M

Not enough data

1 years with asset history on file

Average account balance

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

$97K

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.

285

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.

91.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.89M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+12.00%

Not enough data

1 years with return on file

Admin fee / account holder

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

$342

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

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Service providers

Top 1 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL2+ years Service code 37 · EIN 04-2647786	Loan Processing	$2,013

Plan features & details

Pension benefit codes2F2G2J2K3B3H2E

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

$2K

$8 / participant

Other / not subdivided$2K100.0%

% of EOY assets

0.013%

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: FLEMING, TAWFALL & COMPANY, P.C.
Auditor EIN: 371240567
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$67,856

$75,183-9.7%

$123,894-45.2%

$55,167+23.0%

Participation rate

77.9%

72.8%+5.1pp

81.4%-3.5pp

69.0%+8.9pp

Annual return

19.58%

19.01%+0.6pp

47.52%-27.9pp

169.23%-149.6pp

Employer contribution / active EE

$686

$2,823-75.7%

$4,617-85.2%

$1,963-65.1%

Participant deferral / active EE

$3,283

$5,084-35.4%

$5,984-45.1%

$3,054+7.5%

Admin fee / account holder

$663-98.7%

$8,357-99.9%

$504-98.3%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL2+ years

Service code 37 · EIN 04-2647786

Loan Processing

$2,013

KARMAK, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KARMAK, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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