Retirement plan

KINGS TIRE SERVICE, INC. 401(K) PROFIT SHARING PLAN

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

KINGS TIRE SERVICE, INC.EIN 55-0566053Plan #001PY 2024

6320 AIRPORT ROAD - BLUEFIELD, WV 24701304-800-9813

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$5.1M

+9.4% from 2023

Total participants

282

+1.4% from 2023

Average account balance

$32,129

+3.2% from 2023

Annual return

12.90%

-6.04 pp from 2023

Benchmarks

See 2,313 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,313 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.11M

Not enough data

1 years with asset history on file

Average account balance

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

$32K

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.

159

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.

45.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$699K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+12.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$18

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 1 by compensation

Provider	Service type	Compensation
AMERICAN FUNDS10+ years Filed as: CAPITAL BANK AND TRUST Service code 15 · EIN 95-6817943	Recordkeeping	$0

Plan features & details

Pension benefit codes2E2F2J2T3D3H

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).
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll 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

$3K

$13 / participant

Other / not subdivided$3K100.0%

% of EOY assets

0.057%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BROWN, EDWARDS & COMPANY, LLP
Auditor EIN: 540504608
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$32,129

$59,456-46.0%

$93,669-65.7%

$74,429-56.8%

Participation rate

45.6%

59.6%-14.1pp

68.7%-23.2pp

67.2%-21.6pp

Annual return

12.90%

82.00%-69.1pp

133.59%-120.7pp

1368.38%-1355.5pp

Employer contribution / active EE

$1,252

$1,266-1.1%

$2,424-48.4%

$2,625-52.3%

Participant deferral / active EE

$1,841

$3,052-39.7%

$4,416-58.3%

$4,348-57.7%

Admin fee / account holder

$18

$3,026-99.4%

$8,291-99.8%

$1,944-99.1%

Provider

Service type

Compensation

AMERICAN FUNDS10+ years

Filed as: CAPITAL BANK AND TRUST

Service code 15 · EIN 95-6817943

Recordkeeping

KINGS TIRE SERVICE, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KINGS TIRE SERVICE, INC. 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