Retirement plan

KALSEC UNION 401(K) / RETIREMENT PLAN

Name: KALSEC, INC. - KALSEC UNION 401(K) / RETIREMENT PLAN (2020) Form 5500
Creator: KALSEC, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KALSEC UNION 401(K) / RETIREMENT PLAN, KALSEC, INC.

KALSEC, INC.EIN 38-2089140Plan #016PY 2020

P.O. BOX 50511 - KALAMAZOO, MI 49005269-349-9711kalsec.comLinkedIn201-500 employeesfood & beverages

Other plans on this EIN

1 filing

#003Retirement-$75.6M assets

Prospect flagsHigh feesRecently reached 100 employees

Top hat statement on fileNQDC

Filed June 30, 2023 (most recent of 3 filings on file)

Plan administrator

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3713 WEST MAIN ST.

KALAMAZOO, MI 49006

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Plans declared (1)

KALSEC DEFERRED COMP12 emp

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Total assets (EOY)

$20.1M

+10.0% from 2019

Total participants

115

+18.6% from 2019

Average account balance

$176,721

-6.4% from 2019

Annual return

17.37%

-5.98 pp from 2019

Benchmarks

See 936 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort936 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$25.81M

Not enough data

1 years with asset history on file

Average account balance

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

$228K

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.

113

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.

99.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.40M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+27.82%

Not enough data

1 years with return on file

Admin fee / account holder

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

$123

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

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$2.7M

$24751 / participant

Other / not subdivided$3M100.0%

% of EOY assets

13.269%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$176,721

$54,590+223.7%

$81,726+116.2%

$73,497+140.4%

Participation rate

99.1%

68.3%+30.8pp

72.0%+27.1pp

70.7%+28.4pp

Annual return

17.37%

17.74%-0.4pp

29.49%-12.1pp

28.51%-11.1pp

Employer contribution / active EE

$5,050

$1,636+208.7%

$4,311+17.1%

$2,270+122.4%

Participant deferral / active EE

$7,144

$2,759+158.9%

$7,108+0.5%

$3,740+91.0%

Admin fee / account holder

$23,449

$592+3860.8%

$5,160+354.4%

$513+4470.2%

KALSEC UNION 401(K) / RETIREMENT PLAN

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

KALSEC UNION 401(K) / RETIREMENT PLAN

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