Retirement plan

PARKDALE, INCORPORATED RETIREMENT PLAN

Name: PARKDALE MILLS, INC. - PARKDALE, INCORPORATED RETIREMENT PLAN (2023) Form 5500
Creator: PARKDALE MILLS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PARKDALE, INCORPORATED RETIREMENT PLAN, PARKDALE MILLS, INC.

PARKDALE MILLS, INC.EIN 56-0348490Plan #333PY 2023

531 COTTON BLOSSOM CIRCLE - GASTONIA, NC 28054704-874-5070parkdalemills.comLinkedIn1001-5000 employeestextiles

Prospect flagsLow participationLow employer contributionLow participant contributionFailed to transmit contributions

Top hat statement on fileNQDC

Filed November 8, 1996

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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How to read this page

Total assets (EOY)

$72.9M

+3.8% from 2022

Total participants

3,090

-23.4% from 2022

Average account balance

$36,500

+52.3% from 2022

Annual return

15.69%

+31.34 pp from 2022

Benchmarks

See 245 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort245 peers

Snapshot2023

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Analytics

Total assets (EOY)

Plan-year ending balance

$77.77M

Not enough data

1 years with asset history on file

Average account balance

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

$30K

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.

2,557

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.

91.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.67M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+12.42%

Not enough data

1 years with return on file

Admin fee / account holder

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

$95

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

Top 4 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 15 · EIN 84-0467907	Recordkeeping	$194,073
CBIZ RETIREMENT PLAN SERVICES3 years Filed as: CBIZ INVESTMENT ADVISORY SERVICES L Service code 27 5959 ROCKSIDE WOODS BLVD N · CLEVELAND, OH 44131	Advisory (Plan)	$103,432
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 26 · EIN 84-1532243	Advisory (Participants)	$19,945
ARROWOOD & ASSOCIATES PA9+ years Service code 10 1546 A UNION RD · GASTONIA, NC 28054	Accounting	$13,497

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3B3D3H2X

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant 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

$331K

$130 / participant

Recordkeeping$194K58.6%
Investment mgmt$123K37.3%
Other / not subdivided$13K4.1%

% of EOY assets

0.454%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: ARROWOOD & ASSOCIATES, PA
Auditor EIN: 561678619
Audit fees: $13,497
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$36,500

$73,034-50.0%

$77,163-52.7%

$80,160-54.5%

Participation rate

57.1%

78.1%-21.0pp

69.6%-12.5pp

72.9%-15.8pp

Annual return

15.69%

18.56%-2.9pp

37.87%-22.2pp

40.38%-24.7pp

Employer contribution / active EE

$686

$2,779-75.3%

$2,535-72.9%

$2,978-77.0%

Participant deferral / active EE

$1,379

$4,140-66.7%

$3,833-64.0%

$5,017-72.5%

Admin fee / account holder

$166

$104+59.8%

$5,472-97.0%

$145+14.4%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 15 · EIN 84-0467907

Recordkeeping

$194,073

CBIZ RETIREMENT PLAN SERVICES3 years

Filed as: CBIZ INVESTMENT ADVISORY SERVICES L

Service code 27

5959 ROCKSIDE WOODS BLVD N · CLEVELAND, OH 44131

Advisory (Plan)

$103,432

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 26 · EIN 84-1532243

Advisory (Participants)

$19,945

ARROWOOD & ASSOCIATES PA9+ years

Service code 10

1546 A UNION RD · GASTONIA, NC 28054

Accounting

$13,497

PARKDALE, INCORPORATED RETIREMENT PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PARKDALE, INCORPORATED RETIREMENT PLAN

Top hat statement on fileNQDC

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