Retirement plan

KALSEC UNION 401(K) / RETIREMENT PLAN

Name: KALSEC, INC. - KALSEC UNION 401(K) / RETIREMENT PLAN (2023) 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 2023

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

Other plans on this EIN

1 filing

#003Retirement-$82.9M assets

Prospect flagsCorrective distributions

Top hat statement on fileNQDC

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

Plan administrator

Plan administrator name— Sign in and upgrade to view

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)

$21.2M

+15.4% from 2022

Total participants

124

-1.6% from 2022

Average account balance

$172,679

+14.4% from 2022

Annual return

15.47%

+37.91 pp from 2022

Benchmarks

See 938 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort938 peers

Snapshot2023

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

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
STRATEGIC ADVISORS, INC.2 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$16,990
FIDELITY INVESTMENTS INSTITUTIONAL2 years Service code 37 · EIN 04-2647786	Loan Processing	$3,950

Plan features & details

Pension benefit codes2F2G2J2T2E3D

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

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$21K

$189 / participant

Investment mgmt$17K81.1%
Other / not subdivided$4K18.9%

% of EOY assets

0.099%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PLANTE & MORAN, PLLC
Auditor EIN: 381357951
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$172,679

$56,438+206.0%

$76,872+124.6%

$71,511+141.5%

Participation rate

99.1%

64.3%+34.8pp

69.6%+29.5pp

67.9%+31.2pp

Annual return

15.47%

19.05%-3.6pp

37.90%-22.4pp

28.86%-13.4pp

Employer contribution / active EE

$4,463

$1,864+139.5%

$2,533+76.2%

$2,589+72.4%

Participant deferral / active EE

$8,212

$3,136+161.8%

$3,832+114.3%

$4,291+91.4%

Admin fee / account holder

$170

$1,430-88.1%

$5,476-96.9%

$1,588-89.3%

Provider

Service type

Compensation

STRATEGIC ADVISORS, INC.2 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$16,990

FIDELITY INVESTMENTS INSTITUTIONAL2 years

Service code 37 · EIN 04-2647786

Loan Processing

$3,950

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