Retirement plan

KALSEC UNION 401(K) / RETIREMENT PLAN

Name: KALSEC, INC. - KALSEC UNION 401(K) / RETIREMENT PLAN (2024) 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 2024

3713 WEST MAIN STREET - KALAMAZOO, MI 49006269-349-9711kalsec.comLinkedIn201-500 employeesfood & beverages

Other plans on this EIN

1 filing

#003Retirement-$96.5M assets

Prospect flagsNo flags tripped

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)

$25.8M

+21.5% from 2023

Total participants

114

-8.1% from 2023

Average account balance

$228,370

+32.3% from 2023

Annual return

27.82%

+12.35 pp from 2023

Benchmarks

See 940 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort940 peers

Snapshot2024

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.3 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$10,713
FIDELITY INVESTMENTS INSTITUTIONAL3 years Service code 37 · EIN 04-2647786	Loan Processing	$3,181

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

0 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$14K

$132 / participant

Recordkeeping$3K22.9%
Investment mgmt$11K77.1%

% of EOY assets

0.054%

all-in expense ratio

Categories reported

2 / 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: 331498605
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$228,370

$62,166+267.4%

$81,286+180.9%

$74,429+206.8%

Participation rate

99.0%

64.1%+35.0pp

69.5%+29.5pp

67.2%+31.8pp

Annual return

27.82%

16.50%+11.3pp

24.80%+3.0pp

1368.38%-1340.6pp

Employer contribution / active EE

$4,801

$1,881+155.3%

$2,463+95.0%

$2,625+82.9%

Participant deferral / active EE

$8,543

$3,223+165.0%

$3,883+120.0%

$4,348+96.5%

Admin fee / account holder

$123

$1,925-93.6%

$5,764-97.9%

$1,944-93.7%

Provider

Service type

Compensation

STRATEGIC ADVISORS, INC.3 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$10,713

FIDELITY INVESTMENTS INSTITUTIONAL3 years

Service code 37 · EIN 04-2647786

Loan Processing

$3,181

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