Retirement plan

CIRCUIT ELECTRIC 401(K) PLAN

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

CIRCUIT ELECTRIC, INC.EIN 38-2219963Plan #002PY 2023

1376 108TH ST. SW - BYRON CENTER, MI 49315616-878-4343circuitelectric.comLinkedIn51-200 employeesconstruction

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$4.8M

+27.4% from 2022

Total participants

110

-16.0% from 2022

Average account balance

$50,830

+36.9% from 2022

Annual return

20.36%

+35.74 pp from 2022

Benchmarks

See 18,032 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,032 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.58M

Not enough data

1 years with asset history on file

Average account balance

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

$75K

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.

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.

102.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$448K

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

+15.71%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2509

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

0 years with F_SCH_H allocation on file

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.2 years Filed as: WELLS FARGO CLEARING SERVICES, LLC Service code 26 · EIN 34-1542819 1 N JEFFERSON AVE · SAINT LOUIS, MO 631032205	Advisory (Participants)	$16,025
NATIONWIDE4 years Service code 26 · EIN 31-4156830 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Advisory (Participants)	$9,629
EPIC RETIREMENT PLAN SERVICES3 years Filed as: KDP RETIREMENT PLAN SERVICES, INC Service code 13 · EIN 38-3478073 3060 LAKE EASTBROOK BLVD SE · GRAND RAPIDS, MI 49512	Contract Administrator	$1,125

Plan features & details

Pension benefit codes2E2J2K2F2G3D

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.
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.
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

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$27K

$288 / participant

Recordkeeping$17K61.8%
Investment mgmt$1K4.2%
Other / not subdivided$9K34.0%

% of EOY assets

0.560%

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: STONEHENGE CONSULTING, PLC
Auditor EIN: 611441770
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$50,830

$73,988-31.3%

$96,538-47.3%

$75,177-32.4%

Participation rate

82.8%

66.4%+16.4pp

74.3%+8.4pp

67.2%+15.6pp

Annual return

20.36%

26.73%-6.4pp

35.74%-15.4pp

160.75%-140.4pp

Employer contribution / active EE

$1,849

$2,930-36.9%

$3,740-50.6%

$2,671-30.8%

Participant deferral / active EE

$3,265

$3,660-10.8%

$4,880-33.1%

$4,126-20.9%

Admin fee / account holder

$285

$5,220-94.5%

$6,737-95.8%

$5,651-95.0%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.2 years

Filed as: WELLS FARGO CLEARING SERVICES, LLC

Service code 26 · EIN 34-1542819

1 N JEFFERSON AVE · SAINT LOUIS, MO 631032205

Advisory (Participants)

$16,025

NATIONWIDE4 years

Service code 26 · EIN 31-4156830

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Advisory (Participants)

$9,629

EPIC RETIREMENT PLAN SERVICES3 years

Filed as: KDP RETIREMENT PLAN SERVICES, INC

Service code 13 · EIN 38-3478073

3060 LAKE EASTBROOK BLVD SE · GRAND RAPIDS, MI 49512

Contract Administrator

$1,125

CIRCUIT ELECTRIC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CIRCUIT ELECTRIC 401(K) 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