Retirement plan

JAC PRODUCTS, INC. 401(K) RETIREMENT SAVINGS PLAN

Name: JAC PRODUCTS, INC. - JAC PRODUCTS, INC. 401(K) RETIREMENT SAVINGS PLAN (2023) Form 5500
Creator: JAC PRODUCTS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, JAC PRODUCTS, INC. 401(K) RETIREMENT SAVINGS PLAN, JAC PRODUCTS, INC.

JAC PRODUCTS, INC.EIN 38-1888757Plan #003PY 2023

225 SOUTH INDUSTRIAL DRIVE - SALINE, MI 48176734-463-9934jacproducts.comLinkedIn1001-5000 employeesautomotive

Prospect flagsLow assets / participantLow employer contributionCorrective distributions

Top hat statement on fileNQDC

Filed June 25, 1996

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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How to read this page

Total assets (EOY)

$47.3M

+10.5% from 2022

Total participants

1,416

-9.1% from 2022

Average account balance

$34,746

+20.1% from 2022

Annual return

17.37%

+32.35 pp from 2022

Benchmarks

See 394 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort394 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$57.99M

Not enough data

1 years with asset history on file

Average account balance

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

$48K

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.

1,207

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.

97.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.90M

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

+15.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$208

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$163,632
CORECAP INVESTMENTS INC7 years Service code 55 27777 FRANKLIN RD STE 700 · SOUTHFIELD, MI 48034	Other Commissions	$37,996
CREATIVE PLANNING LLC1 year Filed as: CREATIVE FINANCIAL SOLUTIONS, INC. Service code 27 5435 CORPORATE DR STE 260 · TROY, MI 48098	Advisory (Plan)	$21,669
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$16,728

Plan features & details

Pension benefit codes2A2E2F2G2J2K2S2T3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$202K

$185 / participant

Recordkeeping$164K81.0%
Investment mgmt$38K19.0%

% of EOY assets

0.427%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BENNETT & ASSOCIATES CPAS PLLC
Auditor EIN: 273488128
Audit fees: $0
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$34,746

$104,631-66.8%

$98,439-64.7%

$80,160-56.7%

Participation rate

95.0%

87.5%+7.4pp

75.2%+19.8pp

72.9%+22.0pp

Annual return

17.37%

34.72%-17.4pp

21.16%-3.8pp

40.38%-23.0pp

Employer contribution / active EE

$871

$4,517-80.7%

$3,048-71.4%

$2,978-70.8%

Participant deferral / active EE

$3,343

$6,545-48.9%

$4,738-29.4%

$5,017-33.4%

Admin fee / account holder

$148

$105+41.6%

$8,948-98.3%

$145+2.5%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$163,632

CORECAP INVESTMENTS INC7 years

Service code 55

27777 FRANKLIN RD STE 700 · SOUTHFIELD, MI 48034

Other Commissions

$37,996

CREATIVE PLANNING LLC1 year

Filed as: CREATIVE FINANCIAL SOLUTIONS, INC.

Service code 27

5435 CORPORATE DR STE 260 · TROY, MI 48098

Advisory (Plan)

$21,669

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$16,728

JAC PRODUCTS, INC. 401(K) RETIREMENT SAVINGS PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

JAC PRODUCTS, INC. 401(K) RETIREMENT SAVINGS PLAN

Top hat statement on fileNQDC

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