Retirement plan

KOOPS INC. 401(K) PLAN

Name: KOOPS, INC. - KOOPS INC. 401(K) PLAN (2022) Form 5500
Creator: KOOPS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KOOPS INC. 401(K) PLAN, KOOPS, INC.

KOOPS, INC.EIN 38-3266325Plan #001PY 2022

987 PRODUCTIONS COURT - HOLLAND, MI 49423616-395-0230

Other plans on this EIN

1 filing

#002Retirement-$34.2M assets

Prospect flagsLow returnsLow fidelity bondFailed to transmit contributions

How to read this page

Total assets (EOY)

$11.9M

-8.8% from 2021

Total participants

310

+28.1% from 2021

Average account balance

$43,804

-26.6% from 2021

Annual return

-20.45%

-39.00 pp from 2021

Benchmarks

See 3,159 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,159 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$21.90M

Not enough data

1 years with asset history on file

Average account balance

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

$68K

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.

320

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.

91.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.26M

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

+19.35%

Not enough data

1 years with return on file

Admin fee / account holder

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

$272

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
CETERA ADVISOR NETWORKS LLC2 years Filed as: CETERA ADVISOR NETWORKS Service code 27 200 N PACIFIC COAST HWY · EL SEGUNDO, CA 90245	Advisory (Plan)	$32,962
THE VANGUARD GROUP, INC.5 years Filed as: THE VANGUARD GROUP Service code 13 · EIN 23-1945930	Contract Administrator	$17,420
BEENE GARTER LLP3 years Service code 15 56 GRANDVILLE AVE. · GRAND RAPIDS, MI 49503	Recordkeeping	$9,890

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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

3 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$60K

$216 / participant

Investment mgmt$33K54.7%
Contract admin$17K28.9%
Other / not subdivided$10K16.4%

% of EOY assets

0.506%

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: REHMANN ROBSON LLC
Auditor EIN: 383635706
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$43,804

$82,163-46.7%

$125,381-65.1%

$64,819-32.4%

Participation rate

86.4%

77.9%+8.5pp

82.4%+4.0pp

71.5%+14.9pp

Annual return

-20.45%

3.49%-23.9pp

572.31%-592.8pp

32.84%-53.3pp

Employer contribution / active EE

$1,346

$3,616-62.8%

$4,815-72.0%

$2,507-46.3%

Participant deferral / active EE

$4,685

$7,175-34.7%

$7,448-37.1%

$4,311+8.7%

Admin fee / account holder

$222

$163+35.8%

$10,007-97.8%

$188+18.0%

Provider

Service type

Compensation

CETERA ADVISOR NETWORKS LLC2 years

Filed as: CETERA ADVISOR NETWORKS

Service code 27

200 N PACIFIC COAST HWY · EL SEGUNDO, CA 90245

Advisory (Plan)

$32,962

THE VANGUARD GROUP, INC.5 years

Filed as: THE VANGUARD GROUP

Service code 13 · EIN 23-1945930

Contract Administrator

$17,420

BEENE GARTER LLP3 years

Service code 15

56 GRANDVILLE AVE. · GRAND RAPIDS, MI 49503

Recordkeeping

$9,890

KOOPS INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KOOPS INC. 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