Retirement plan

ITC DEFENSE CORP 401(K) PROFIT SHARING PLAN

Name: ITC DEFENSE CORP - ITC DEFENSE CORP 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: ITC DEFENSE CORP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ITC DEFENSE CORP 401(K) PROFIT SHARING PLAN, ITC DEFENSE CORP

ITC DEFENSE CORPEIN 45-4256537Plan #001PY 2024

7301 RIVERS AVENUE, SUITE 155 - NORTH CHARLESTON, SC 29406703-842-4852itcdefense.comLinkedIn51-200 employeesdefense & space

Other plans on this EIN

1 filing

#002Retirement-$2.2M assets

Prospect flagsLow assets / participantLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$4.8M

+19.7% from 2023

Total participants

210

+72.1% from 2023

Average account balance

$23,648

-28.8% from 2023

Annual return

19.12%

+0.66 pp from 2023

Benchmarks

See 6,278 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,278 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.85M

Not enough data

1 years with asset history on file

Average account balance

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

$24K

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.

205

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.

96.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$653K

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

+19.12%

Not enough data

1 years with return on file

Admin fee / account holder

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

$127

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 5 by compensation

Provider	Service type	Compensation
OSAIC WEALTH INC1 year Service code 26 JP MORGAN CHASE TXI-0029 · FORT WORTH, TX 76155	Advisory (Participants)	$11,176
OSAIC WEALTH INC1 year Filed as: OSAIC FINL Service code 26 · EIN 41-0944586	Advisory (Participants)	$6,369
WOODBURY FINANCIAL SERVICES3 years Service code 26 7755 3RD STREET NORTH · OAKDALE, MN 55128	Advisory (Participants)	$4,805
RETIREMENT PLANNERS & ADMINISTRATOR3 years Service code 13 · EIN 62-1038805 7639 LEESBURG PIKE · FALLS CHURCH, VA 22043	Contract Administrator	$1,900
THE VANGUARD GROUP, INC.3 years Filed as: THE VANGUARD GROUP Service code 15 · EIN 23-1945930	Recordkeeping	$1,823

Plan features & details

Pension benefit codes3D2E2F2G2J2K2T

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.
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 participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$26K

$182 / participant

Trustee / custodial$22K85.7%
Contract admin$2K7.0%
Other / not subdivided$2K7.3%

% of EOY assets

0.538%

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: DAVIS & COMPANY CPAS
Auditor EIN: 844158464
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$23,648

$101,672-76.7%

$147,117-83.9%

$74,478-68.2%

Participation rate

96.5%

75.5%+21.0pp

82.2%+14.3pp

67.2%+29.3pp

Annual return

19.12%

8757.83%-8738.7pp

420.54%-401.4pp

1370.56%-1351.4pp

Employer contribution / active EE

$1,640

$3,813-57.0%

$4,932-66.7%

$2,626-37.5%

Participant deferral / active EE

$2,925

$7,305-60.0%

$8,065-63.7%

$4,350-32.8%

Admin fee / account holder

$127

$1,753-92.7%

$12,993-99.0%

$1,946-93.5%

Provider

Service type

Compensation

OSAIC WEALTH INC1 year

Service code 26

JP MORGAN CHASE TXI-0029 · FORT WORTH, TX 76155

Advisory (Participants)

$11,176

OSAIC WEALTH INC1 year

Filed as: OSAIC FINL

Service code 26 · EIN 41-0944586

Advisory (Participants)

$6,369

WOODBURY FINANCIAL SERVICES3 years

Service code 26

7755 3RD STREET NORTH · OAKDALE, MN 55128

Advisory (Participants)

$4,805

RETIREMENT PLANNERS & ADMINISTRATOR3 years

Service code 13 · EIN 62-1038805

7639 LEESBURG PIKE · FALLS CHURCH, VA 22043

Contract Administrator

$1,900

THE VANGUARD GROUP, INC.3 years

Filed as: THE VANGUARD GROUP

Service code 15 · EIN 23-1945930

Recordkeeping

$1,823

ITC DEFENSE CORP 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ITC DEFENSE CORP 401(K) PROFIT SHARING 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