Retirement plan

I.C. SYSTEM, INC. SAVINGS PLUS PLAN

Name: I.C. SYSTEM, INC. - I.C. SYSTEM, INC. SAVINGS PLUS PLAN (2016) Form 5500
Creator: I.C. SYSTEM, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, I.C. SYSTEM, INC. SAVINGS PLUS PLAN, I.C. SYSTEM, INC.

I.C. SYSTEM, INC.EIN 41-0739183Plan #001PY 2016

444 EAST HIGHWAY 96 - ST. PAUL, MN 55127651-481-6413

Prospect flagsLow returnsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$21.9M

-1.0% from 2015

Total participants

636

+77.2% from 2015

Average account balance

$66,063

+0.8% from 2015

Annual return

5.05%

+7.38 pp from 2015

Benchmarks

See 631 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants250-999

Cohort631 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$36.95M

Not enough data

1 years with asset history on file

Average account balance

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

$120K

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.

307

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.

66.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.29M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+11.72%

Not enough data

1 years with return on file

Admin fee / account holder

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

$138

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 2 by compensation

Provider	Service type	Compensation
ABG PORTFOLIO STRATEGIES, INC.2+ years Filed as: ABG INVESTMENT SERVICES Service code 27 · EIN 41-1812533	Advisory (Plan)	$32,000
MASSACHUSETTS MUTUAL LIFE INS. CO.2+ years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$19,406

Plan features & details

Pension benefit codes2E2J2F2G3D2T

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.
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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$19K

$38 / participant

Contract admin$19K100.0%

% of EOY assets

0.089%

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: RSM US LLP
Auditor EIN: 420714325
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$66,063

$30,599+115.9%

$74,577-11.4%

$57,658+14.6%

Participation rate

40.0%

49.1%-9.2pp

68.1%-28.2pp

70.2%-30.3pp

Annual return

5.05%

14.24%-9.2pp

20.47%-15.4pp

5.13%-0.1pp

Employer contribution / active EE

$244

$1,000-75.6%

$2,525-90.4%

$1,974-87.7%

Participant deferral / active EE

$1,451

$1,805-19.6%

$3,458-58.1%

$3,061-52.6%

Admin fee / account holder

$59

$98-40.1%

$4,138-98.6%

$95-37.9%

Provider

Service type

Compensation

ABG PORTFOLIO STRATEGIES, INC.2+ years

Filed as: ABG INVESTMENT SERVICES

Service code 27 · EIN 41-1812533

Advisory (Plan)

$32,000

MASSACHUSETTS MUTUAL LIFE INS. CO.2+ years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$19,406

I.C. SYSTEM, INC. SAVINGS PLUS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

I.C. SYSTEM, INC. SAVINGS PLUS 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