Retirement plan

403(B) THRIFT PLAN OF ARKAY, INC.

Name: ARKAY, INC. - 403(B) THRIFT PLAN OF ARKAY, INC. (2020) Form 5500
Creator: ARKAY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN OF ARKAY, INC., ARKAY, INC.

ARKAY, INC.EIN 38-2577464Plan #002PY 2020

15221 EUREKA RD - SOUTHGATE, MI 481952647734-284-2929

Other plans on this EIN

1 filing

#001Retirement-$158K assets

Prospect flagsLow assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$212K

+85.1% from 2019

Total participants

-10.8% from 2019

Average account balance

$4,078

+102.9% from 2019

Annual return

31.38%

+9.07 pp from 2019

Benchmarks

See 8,769 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort8,769 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$638K

Not enough data

1 years with asset history on file

Average account balance

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

$13K

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.

50.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$90K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$902

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

+10.47%

Not enough data

1 years with return on file

Admin fee / account holder

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

$170

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

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 codes2F2G2S2T3D

Plan features

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.
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.

Opportunity flags

2 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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

$12K

$249 / participant

Other / not subdivided$12K100.0%

% of EOY assets

5.763%

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

$4,078

$60,128-93.2%

$90,440-95.5%

$79,852-94.9%

Participation rate

87.8%

65.0%+22.8pp

72.7%+15.1pp

69.6%+18.1pp

Annual return

31.38%

71.95%-40.6pp

1294.38%-1263.0pp

31.72%-0.3pp

Employer contribution / active EE

$375

$2,068-81.9%

$3,263-88.5%

$2,471-84.8%

Participant deferral / active EE

$1,116

$2,939-62.0%

$3,964-71.8%

$3,740-70.2%

Admin fee / account holder

$235

$3,977-94.1%

$5,615-95.8%

$5,306-95.6%

403(B) THRIFT PLAN OF ARKAY, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN OF ARKAY, INC.

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