Retirement plan

DRAKEN INTERNATIONAL, INC. 401(K) PLAN

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

DRAKEN INTERNATIONAL, INC.EIN 45-4072151Plan #001PY 2021

3330 FLIGHTLINE DRIVE - LAKELAND, FL 33811800-936-4079drakenintl.comLinkedIn51-200 employeesaviation & aerospace

Prospect flagsLow participationLow assets / participantRecently reached 100 employeesLow fidelity bondFailed to transmit contributions

How to read this page

Total assets (EOY)

$2M

+214.8% from 2020

Total participants

461

+30.6% from 2020

Average account balance

$10,699

+7.7% from 2020

Annual return

58.11%

+31.59 pp from 2020

Benchmarks

See 736 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants250-999

Cohort736 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.22M

Not enough data

1 years with asset history on file

Average account balance

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

$23K

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.

186

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.

67.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$935K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+15.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$282

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 2 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY2 years Filed as: JOHN HANCOCK LIFE INSURANCE CO. (US Service code 15 · EIN 01-0233346	Recordkeeping	$350
WILSHIRE ASSOCIATES INCORPORATED2 years Filed as: WILSHIRE ASSOCIATES INC. (USA) Service code 26 · EIN 95-2755361	Advisory (Participants)	$248

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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

5 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.
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).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$22K

$52 / participant

Investment mgmt$2481.1%
Contract admin$22K98.9%

% of EOY assets

1.090%

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: BAKER TILLY US, LLP
Auditor EIN: 390859910
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$10,699

$41,647-74.3%

$96,192-88.9%

$86,821-87.7%

Participation rate

36.1%

50.3%-14.2pp

68.4%-32.4pp

72.3%-36.2pp

Annual return

58.11%

27.24%+30.9pp

192.09%-134.0pp

97.94%-39.8pp

Employer contribution / active EE

$1,029

$1,328-22.5%

$2,799-63.2%

$2,406-57.2%

Participant deferral / active EE

$1,762

$2,412-27.0%

$4,351-59.5%

$4,132-57.4%

Admin fee / account holder

$117

$169-31.1%

$5,539-97.9%

$170-31.2%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY2 years

Filed as: JOHN HANCOCK LIFE INSURANCE CO. (US

Service code 15 · EIN 01-0233346

Recordkeeping

$350

WILSHIRE ASSOCIATES INCORPORATED2 years

Filed as: WILSHIRE ASSOCIATES INC. (USA)

Service code 26 · EIN 95-2755361

Advisory (Participants)

$248

DRAKEN INTERNATIONAL, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DRAKEN INTERNATIONAL, 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