Retirement plan

CRETEX COMPANIES, INC. 401(K) PROFIT SHARING PLAN

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

CRETEX COMPANIES, INC.EIN 41-0207645Plan #005PY 2021

311 LOWELL AVE - ELK RIVER, MN 553302508763-241-8233cretexcompanies.comLinkedIn1001-5000 employeesexecutive office

Prospect flagsLow returnsFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed September 28, 2022 (most recent of 3 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

311 Lowell Ave N

Elk River, MN 55330

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Plans declared (1)

Cretex Companies, Inc. 2023 Deferred Compensation Plan60 emp

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Total assets (EOY)

$225.2M

-19.1% from 2019

Total participants

2,996

-4.5% from 2019

Average account balance

$82,568

-15.0% from 2019

Annual return

12.96%

-21.03 pp from 2019

Benchmarks

See 394 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort394 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$271.63M

Not enough data

1 years with asset history on file

Average account balance

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

$99K

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.

2,756

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.

95.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$25.46M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+13.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$72

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 42-0127290	Contract Administrator	$70,456
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MGMT LLC Service code 26 · EIN 36-4317381	Advisory (Participants)	$0
WILSHIRE ASSOCIATES INCORPORATED4+ years Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3H

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$70K

$31 / participant

Contract admin$70K100.0%

% of EOY assets

0.031%

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: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$82,568

$114,195-27.7%

$106,554-22.5%

$93,010-11.2%

Participation rate

88.0%

86.4%+1.6pp

76.1%+11.9pp

73.9%+14.1pp

Annual return

12.96%

22.18%-9.2pp

26.80%-13.8pp

158.70%-145.7pp

Employer contribution / active EE

$5,508

$4,009+37.4%

$2,819+95.4%

$2,705+103.6%

Participant deferral / active EE

$4,160

$5,908-29.6%

$4,398-5.4%

$4,561-8.8%

Admin fee / account holder

$26

$105-75.3%

$7,408-99.7%

$152-83.0%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY4+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$70,456

MORNINGSTAR1 year

Filed as: MORNINGSTAR INVESTMENT MGMT LLC

Service code 26 · EIN 36-4317381

Advisory (Participants)

WILSHIRE ASSOCIATES INCORPORATED4+ years

Service code 27 · EIN 95-2755361

Advisory (Plan)

CRETEX COMPANIES, INC. 401(K) PROFIT SHARING PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CRETEX COMPANIES, INC. 401(K) PROFIT SHARING PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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