Retirement plan

J.C. STEELE & SONS,INC PROFIT SHARING AND RETIREMENT SAVINGS PLAN

Name: J.C. STEELE AND SONS, INC. - J.C. STEELE & SONS,INC PROFIT SHARING AND RETIREMENT SAVINGS PLAN (2023) Form 5500
Creator: J.C. STEELE AND SONS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, J.C. STEELE & SONS,INC PROFIT SHARING AND RETIREMENT SAVINGS PLAN, J.C. STEELE AND SONS, INC.

J.C. STEELE AND SONS, INC.EIN 56-0495324Plan #002PY 2023

710 SOUTH MULBERRY ST - STATESVILLE, NC 28687704-872-3681

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$26.9M

+11.9% from 2022

Total participants

150

+2.7% from 2022

Average account balance

$184,145

+6.5% from 2022

Annual return

18.23%

+34.67 pp from 2022

Benchmarks

See 4,139 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,139 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$24.64M

Not enough data

1 years with asset history on file

Average account balance

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

$166K

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.

148

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.

97.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.36M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+11.96%

Not enough data

1 years with return on file

Admin fee / account holder

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

$443

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
LINCOLN NATIONAL CORPORATION2 years Service code 13 · EIN 35-1140070	Contract Administrator	$46,044
KESTRA INVESTMENT SERVICES LLC2 years Filed as: KESTRA ADVISORY SERVICES Service code 27 · EIN 35-2552359	Advisory (Plan)	$14,849

Plan features & details

Pension benefit codes2S2E3D2G2J2K2F2T3B3F

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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$61K

$465 / participant

Investment mgmt$15K24.4%
Contract admin$46K75.6%

% of EOY assets

0.226%

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: SMITH LEONARD PLLC
Auditor EIN: 205907591
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$184,145

$76,050+142.1%

$96,544+90.7%

$71,457+157.7%

Participation rate

96.9%

74.4%+22.5pp

76.0%+21.0pp

67.9%+29.0pp

Annual return

18.23%

22.81%-4.6pp

25.84%-7.6pp

28.85%-10.6pp

Employer contribution / active EE

$4,082

$2,244+81.9%

$2,965+37.7%

$2,588+57.8%

Participant deferral / active EE

$5,456

$4,215+29.4%

$4,851+12.5%

$4,289+27.2%

Admin fee / account holder

$417

$2,707-84.6%

$8,252-94.9%

$1,587-73.7%

Provider

Service type

Compensation

LINCOLN NATIONAL CORPORATION2 years

Service code 13 · EIN 35-1140070

Contract Administrator

$46,044

KESTRA INVESTMENT SERVICES LLC2 years

Filed as: KESTRA ADVISORY SERVICES

Service code 27 · EIN 35-2552359

Advisory (Plan)

$14,849

J.C. STEELE & SONS,INC PROFIT SHARING AND RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

J.C. STEELE & SONS,INC PROFIT SHARING AND RETIREMENT SAVINGS 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