Retirement plan

ABLENET, INC. 401(K) PLAN

Name: ABLENET, INC. - ABLENET, INC. 401(K) PLAN (2023) Form 5500
Creator: ABLENET, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ABLENET, INC. 401(K) PLAN, ABLENET, INC.

ABLENET, INC.EIN 41-1676309Plan #002PY 2023

2625 PATTON ROAD - ROSEVILLE, MN 55113651-294-2209ablenetinc.comLinkedIn51-200 employeesmedical devices

Other plans on this EIN

1 filing

#001Retirement-$95.9M assets

Prospect flagsHigh feesLow fidelity bond

Top hat statement on fileNQDC

Filed May 4, 2022

Plan administrator

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2625 Patton Rd.

Roseville, MN 55113

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Plans declared (1)

Nonqualified Deferred Compensation Plan5 emp

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Total assets (EOY)

$4.7M

-14.5% from 2017

Total participants

-3.3% from 2017

Average account balance

$52,292

-21.5% from 2017

Annual return

44.69%

+56.29 pp from 2017

Benchmarks

See 14,450 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,450 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.86M

Not enough data

1 years with asset history on file

Average account balance

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

$33K

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.

206

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.74M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+781.03%

Not enough data

1 years with return on file

Admin fee / account holder

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

$182

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

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$2.5M

$37545 / participant

Other / not subdivided$3M100.0%

% of EOY assets

53.449%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$52,292

$80,992-35.4%

$96,564-45.8%

$75,184-30.4%

Participation rate

98.5%

71.8%+26.7pp

76.0%+22.5pp

67.2%+31.3pp

Annual return

44.69%

27.06%+17.6pp

25.89%+18.8pp

160.78%-116.1pp

Employer contribution / active EE

$2,210

$2,283-3.2%

$2,967-25.5%

$2,671-17.3%

Participant deferral / active EE

$5,844

$3,929+48.7%

$4,852+20.5%

$4,127+41.6%

Admin fee / account holder

$27,950

$6,717+316.1%

$8,256+238.5%

$5,652+394.6%

ABLENET, INC. 401(K) 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

ABLENET, INC. 401(K) 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