Retirement plan

ARK SYSTEMS, INC. PROFIT SHARING 401(K) PLAN

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

ARK SYSTEMS, INC.EIN 52-0986647Plan #001PY 2024

9176 RED BRANCH ROAD - COLUMBIA, MD 210452001410-997-0188arksysinc.comLinkedIn51-200 employeeselectrical/electronic manufacturing

Prospect flagsLow returnsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$12.9M

+12.0% from 2023

Total participants

149

+8.0% from 2023

Average account balance

$104,784

+2.0% from 2023

Annual return

10.36%

-4.35 pp from 2023

Benchmarks

See 3,445 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,445 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.89M

Not enough data

1 years with asset history on file

Average account balance

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

$105K

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.

123

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.

78.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$713K

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

+10.36%

Not enough data

1 years with return on file

Admin fee / account holder

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

$407

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 8 by compensation

Provider	Service type	Compensation
PROACCOUNT1 year Service code 26 · EIN 73-0988442 10 W NATIONWIDE PLAZA · COLUMBUS, OH 43215	Advisory (Participants)	$44,627
KESTRA INVESTMENT SERVICES LLC7 years Filed as: KESTRA ADVISORY SERVICES, LLC Service code 27	Advisory (Plan)	$30,847
NATIONWIDE10+ years Service code 27 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Advisory (Plan)	$27,265
COASTAL PENSION SERVICES5 years Service code 15	Recordkeeping	$7,650
COASTAL PENSION SERVICES10+ years Filed as: COASTAL PENSION SERVICES, INC. Service code 26 · EIN 52-2048790 7230 LEE DEFOREST DRIVE · COLUMBIA, MD 21046	Advisory (Participants)	$2,522
KESTRA INVESTMENT SERVICES LLC5 years Service code 27	Advisory (Plan)	$2,064
COASTAL PENSION SERVICES1 year Filed as: COASTAL PENSION SERVICES, LLC Service code 26	Advisory (Participants)	$1,842
KESTRA INVESTMENT SERVICES LLC8 years Filed as: KESTRA INVESTMENT SERVICES, LLC Service code 27 · EIN 74-2794194 5707 SOUTHWEST PARKWAY · AUSTIN, TX 787353300	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2G2J2K2S2T3D2F

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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).

Expense breakdown

Schedule H Part II

Admin total

$50K

$410 / participant

Investment mgmt$48K95.5%
Contract admin$2K4.5%

% of EOY assets

0.388%

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: ELLIN & TUCKER
Auditor EIN: 520959934
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$104,784

$80,763+29.7%

$102,412+2.3%

$74,459+40.7%

Participation rate

78.7%

65.7%+13.0pp

74.5%+4.2pp

67.2%+11.5pp

Annual return

10.36%

27.57%-17.2pp

24.94%-14.6pp

1369.70%-1359.3pp

Employer contribution / active EE

$1,016

$3,160-67.8%

$3,870-73.7%

$2,626-61.3%

Participant deferral / active EE

$4,830

$3,862+25.1%

$5,060-4.6%

$4,350+11.0%

Admin fee / account holder

$407

$2,371-82.8%

$8,388-95.1%

$1,945-79.1%

Provider

Service type

Compensation

PROACCOUNT1 year

Service code 26 · EIN 73-0988442

10 W NATIONWIDE PLAZA · COLUMBUS, OH 43215

Advisory (Participants)

$44,627

KESTRA INVESTMENT SERVICES LLC7 years

Filed as: KESTRA ADVISORY SERVICES, LLC

Service code 27

Advisory (Plan)

$30,847

NATIONWIDE10+ years

Service code 27

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Advisory (Plan)

$27,265

COASTAL PENSION SERVICES5 years

Service code 15

Recordkeeping

$7,650

COASTAL PENSION SERVICES10+ years

Filed as: COASTAL PENSION SERVICES, INC.

Service code 26 · EIN 52-2048790

7230 LEE DEFOREST DRIVE · COLUMBIA, MD 21046

Advisory (Participants)

$2,522

KESTRA INVESTMENT SERVICES LLC5 years

Service code 27

Advisory (Plan)

$2,064

COASTAL PENSION SERVICES1 year

Filed as: COASTAL PENSION SERVICES, LLC

Service code 26

Advisory (Participants)

$1,842

KESTRA INVESTMENT SERVICES LLC8 years

Filed as: KESTRA INVESTMENT SERVICES, LLC

Service code 27 · EIN 74-2794194

5707 SOUTHWEST PARKWAY · AUSTIN, TX 787353300

Advisory (Plan)

ARK SYSTEMS, INC. PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ARK SYSTEMS, INC. PROFIT SHARING 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