Retirement plan

INGLES MARKETS, INCORPORATED INVESTMENT/ PROFIT SHARING PLAN

Name: INGLES MARKETS, INCORPORATED - INGLES MARKETS, INCORPORATED INVESTMENT/ PROFIT SHARING PLAN (2020) Form 5500
Creator: INGLES MARKETS, INCORPORATED
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INGLES MARKETS, INCORPORATED INVESTMENT/ PROFIT SHARING PLAN, INGLES MARKETS, INCORPORATED

INGLES MARKETS, INCORPORATEDEIN 56-0846267Plan #001PY 2020

2913 US HIGHWAY 70 WEST - BLACK MOUNTAIN, NC 287119103800-635-5066ingles-markets.comLinkedIn10001+ employeesretail

Prospect flagsLow returnsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$158.4M

+13.4% from 2019

Total participants

14,961

+4.3% from 2019

Average account balance

$37,976

+18.8% from 2019

Annual return

10.13%

-14.01 pp from 2019

Benchmarks

See 89 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants>=10,000

Cohort89 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$196.78M

Not enough data

1 years with asset history on file

Average account balance

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

$45K

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.

4,361

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.

21.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$19.04M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+9.23%

Not enough data

1 years with return on file

Admin fee / account holder

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

$56

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 2 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.6+ years Service code 15 · EIN 94-1347393	Recordkeeping	$285,489
MORNINGSTAR6+ years Filed as: MORNINGSTAR ASSOCIATES, LLC Service code 27 · EIN 36-4317381	Advisory (Plan)	$12,688

Plan features & details

Pension benefit codes2E2F2G2J2K2T3F3H

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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$293K

$20 / participant

Other / not subdivided$293K100.0%

% of EOY assets

0.185%

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: DIXON HUGHES GOODMAN LLP
Auditor EIN: 560747981
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,976

$48,464-21.6%

$90,970-58.3%

$106,273-64.3%

Participation rate

25.5%

53.1%-27.6pp

69.0%-43.5pp

70.8%-45.3pp

Annual return

10.13%

16.72%-6.6pp

134.58%-124.5pp

21.70%-11.6pp

Employer contribution / active EE

$338

$939-64.0%

$2,122-84.1%

$2,722-87.6%

Participant deferral / active EE

$668

$1,510-55.7%

$3,373-80.2%

$4,601-85.5%

Admin fee / account holder

$70

$58+21.2%

$5,960-98.8%

$78-10.4%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.6+ years

Service code 15 · EIN 94-1347393

Recordkeeping

$285,489

MORNINGSTAR6+ years

Filed as: MORNINGSTAR ASSOCIATES, LLC

Service code 27 · EIN 36-4317381

Advisory (Plan)

$12,688

INGLES MARKETS, INCORPORATED INVESTMENT/ PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INGLES MARKETS, INCORPORATED INVESTMENT/ 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