Retirement plan

KWANG JIN AMERICA, INC. 401(K) PLAN

Name: KWANG JIN AMERICA, INC. - KWANG JIN AMERICA, INC. 401(K) PLAN (2019) Form 5500
Creator: KWANG JIN AMERICA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KWANG JIN AMERICA, INC. 401(K) PLAN, KWANG JIN AMERICA, INC.

KWANG JIN AMERICA, INC.EIN 38-3328745Plan #001PY 2019

6400 E. ELEVEN MILE ROAD - WARREN, MI 48091248-589-8001

Prospect flagsLow participationLow assets / participant

How to read this page

Total assets (EOY)

$1.6M

+30.0% from 2018

Total participants

179

+5.9% from 2018

Average account balance

$25,985

+50.7% from 2018

Annual return

21.25%

+24.18 pp from 2018

Benchmarks

See 4,277 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,277 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.62M

Not enough data

1 years with asset history on file

Average account balance

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

$55K

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.

102

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.

57.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$791K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+18.14%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1775

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

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
EPIC RETIREMENT PLAN SERVICES1 year Filed as: KDP RETIREMENT PLAN SERVICES INC Service code 13 · EIN 38-3478073 3060 LAKE EASTBROOK BLVD SE · GRAND RAPIDS, MI 49512	Contract Administrator	$650
AMERICAN FUNDS1 year Filed as: CAPITAL GROUP RETIREMENT PLAN SVCS Service code 64 6455 IRVINE CENTER DR · IRVINE, CA 92618	Recordkeeping Fees	$475

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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$1K

$6 / participant

Contract admin$1K100.0%

% of EOY assets

0.063%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: PNJK PARTNERS, LLP
Auditor EIN: 455222566
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$25,985

$65,376-60.3%

$87,102-70.2%

$65,185-60.1%

Participation rate

30.1%

75.3%-45.2pp

76.9%-46.8pp

70.2%-40.1pp

Annual return

21.25%

31.27%-10.0pp

28.19%-6.9pp

29.38%-8.1pp

Employer contribution / active EE

$988

$1,822-45.8%

$2,521-60.8%

$2,177-54.6%

Participant deferral / active EE

$1,715

$3,388-49.4%

$4,048-57.6%

$3,514-51.2%

Admin fee / account holder

$16

$520-96.9%

$7,491-99.8%

$847-98.1%

Provider

Service type

Compensation

EPIC RETIREMENT PLAN SERVICES1 year

Filed as: KDP RETIREMENT PLAN SERVICES INC

Service code 13 · EIN 38-3478073

3060 LAKE EASTBROOK BLVD SE · GRAND RAPIDS, MI 49512

Contract Administrator

$650

AMERICAN FUNDS1 year

Filed as: CAPITAL GROUP RETIREMENT PLAN SVCS

Service code 64

6455 IRVINE CENTER DR · IRVINE, CA 92618

Recordkeeping Fees

$475

KWANG JIN AMERICA, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KWANG JIN AMERICA, 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