Retirement plan

INNOTEC EMPLOYEE 401(K) PROFIT SHARING PLAN

Name: INNOTEC CORP - INNOTEC EMPLOYEE 401(K) PROFIT SHARING PLAN (2021) Form 5500
Creator: INNOTEC CORP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INNOTEC EMPLOYEE 401(K) PROFIT SHARING PLAN, INNOTEC CORP

INNOTEC CORPEIN 38-3076153Plan #001PY 2021

441 E ROOSEVELT - ZEELAND, MI 494641278616-634-0652innotecgroup.comLinkedIn201-500 employeesconsumer goods

Other plans on this EIN

1 filing

#002Retirement-$10.3M assets

Prospect flagsLow employer contribution

How to read this page

Total assets (EOY)

$18.1M

+16.8% from 2020

Total participants

216

+8.5% from 2020

Average account balance

$90,431

+10.9% from 2020

Annual return

15.25%

+0.37 pp from 2020

Benchmarks

See 4,054 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,054 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$19.91M

Not enough data

1 years with asset history on file

Average account balance

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

$100K

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.

199

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.

89.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.05M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+12.96%

Not enough data

1 years with return on file

Admin fee / account holder

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

$40

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

Top 3 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY1 year Filed as: MORGAN STANLEY INSURANCE SERVICES I Service code 49 · EIN 51-0116113	Other Services	$35,664
PRINCIPAL LIFE INSURANCE COMPANY7+ years Service code 13 · EIN 42-0127290	Contract Administrator	$4,794
WILSHIRE ASSOCIATES INCORPORATED7+ years Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T

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.
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.

Opportunity flags

1 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$5K

$29 / participant

Contract admin$5K100.0%

% of EOY assets

0.027%

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: BDO USA, LLP
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$90,431

$84,936+6.5%

$111,303-18.8%

$79,393+13.9%

Participation rate

90.2%

75.9%+14.4pp

77.3%+12.9pp

70.7%+19.5pp

Annual return

15.25%

17.45%-2.2pp

54.66%-39.4pp

116.87%-101.6pp

Employer contribution / active EE

$283

$1,979-85.7%

$2,731-89.6%

$2,428-88.4%

Participant deferral / active EE

$4,950

$3,888+27.3%

$4,487+10.3%

$4,046+22.3%

Admin fee / account holder

$24

$537-95.5%

$7,966-99.7%

$627-96.2%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY1 year

Filed as: MORGAN STANLEY INSURANCE SERVICES I

Service code 49 · EIN 51-0116113

Other Services

$35,664

PRINCIPAL LIFE INSURANCE COMPANY7+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$4,794

WILSHIRE ASSOCIATES INCORPORATED7+ years

Service code 27 · EIN 95-2755361

Advisory (Plan)

INNOTEC EMPLOYEE 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INNOTEC EMPLOYEE 401(K) PROFIT SHARING 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