Retirement plan

NEWKIRK ELECTRIC ASSOCIATES, INC. 401(K) PROFIT-SHARING PLAN

Name: NEWKIRK ELECTRIC ASSOCIATES, INC. - NEWKIRK ELECTRIC ASSOCIATES, INC. 401(K) PROFIT-SHARING PLAN (2024) Form 5500
Creator: NEWKIRK ELECTRIC ASSOCIATES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NEWKIRK ELECTRIC ASSOCIATES, INC. 401(K) PROFIT-SHARING PLAN, NEWKIRK ELECTRIC ASSOCIATES, INC.

NEWKIRK ELECTRIC ASSOCIATES, INC.EIN 38-1717811Plan #001PY 2024

1875 ROBERTS STREET - MUSKEGON, MI 494426032231-722-1691newkirk-electric.comLinkedIn501-1000 employeesconstruction

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$36.4M

+19.0% from 2023

Total participants

224

+2.8% from 2023

Average account balance

$179,298

+19.5% from 2023

Annual return

12.53%

-4.36 pp from 2023

Benchmarks

See 3,450 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,450 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$36.40M

Not enough data

1 years with asset history on file

Average account balance

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

$179K

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.

203

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.

86.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.99M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$19K

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

+12.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$230

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
CHESME CAPITAL MANAGEMENT9 years Service code 27 · EIN 20-0061957	Advisory (Plan)	$31,083
ALERUS FINANCIAL, N.A.9 years Service code 15 · EIN 45-6062081	Recordkeeping	$15,596

Plan features & details

Pension benefit codes2E2F2G2J2T

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.
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.

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$47K

$303 / participant

Recordkeeping$3K5.6%
Trustee / custodial$13K27.8%
Investment mgmt$31K66.6%

% of EOY assets

0.128%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: REHMANN ROBSON LLC
Auditor EIN: 383635706
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$179,298

$80,731+122.1%

$103,374+73.4%

$74,546+140.5%

Participation rate

86.4%

65.7%+20.7pp

74.5%+11.9pp

67.2%+19.2pp

Annual return

12.53%

27.56%-15.0pp

24.89%-12.4pp

1366.03%-1353.5pp

Employer contribution / active EE

$13,208

$3,158+318.3%

$3,869+241.3%

$2,624+403.3%

Participant deferral / active EE

$6,217

$3,860+61.1%

$5,058+22.9%

$4,347+43.0%

Admin fee / account holder

$230

$2,369-90.3%

$8,394-97.3%

$1,944-88.2%

Provider

Service type

Compensation

CHESME CAPITAL MANAGEMENT9 years

Service code 27 · EIN 20-0061957

Advisory (Plan)

$31,083

ALERUS FINANCIAL, N.A.9 years

Service code 15 · EIN 45-6062081

Recordkeeping

$15,596

NEWKIRK ELECTRIC ASSOCIATES, INC. 401(K) PROFIT-SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NEWKIRK ELECTRIC ASSOCIATES, 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