Retirement plan

YALE CAROLINAS, INC. PROFIT SHARING / 401(K) PLAN AND TRUST

Name: YALE CAROLINAS, INC. - YALE CAROLINAS, INC. PROFIT SHARING / 401(K) PLAN AND TRUST (2023) Form 5500
Creator: YALE CAROLINAS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, YALE CAROLINAS, INC. PROFIT SHARING / 401(K) PLAN AND TRUST, YALE CAROLINAS, INC.

YALE CAROLINAS, INC.EIN 56-1595845Plan #001PY 2023

1515 SHOPTON ROAD, SUITE 102 - CHARLOTTE, NC 28217704-588-6930wheelermaterialhandling.comLinkedIn201-500 employeeslogistics and supply chain

Prospect flagsHigh feesLow participationCorrective distributions

How to read this page

Total assets (EOY)

$16.4M

+17.7% from 2022

Total participants

236

-1.3% from 2022

Average account balance

$114,917

+19.3% from 2022

Annual return

14.67%

+30.14 pp from 2022

Benchmarks

See 2,346 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,346 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$16.00M

Not enough data

1 years with asset history on file

Average account balance

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

$121K

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.

132

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.

41.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$970K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+11.59%

Not enough data

1 years with return on file

Admin fee / account holder

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

$392

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 3 by compensation

Provider	Service type	Compensation
NEWPORT GROUP, INC.4 years Service code 15 · EIN 27-2037969	Recordkeeping	$30,514
PNC BANK, N.A.1 year Filed as: PNC INSTITUTIONAL ASSET MANAGEMENT Service code 26 · EIN 22-1146430	Advisory (Participants)	$17,825
MCCANNON ROGERS DRISCOLL & ASSOC2 years Filed as: MCCANNON,ROGERS,DRISCOLL&ASSOCIATES Service code 10 · EIN 56-1056216 227 WEST THIRD AVENUE · GASTONIA, NC 28053	Accounting	$9,350

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3F

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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$61K

$303 / participant

Recordkeeping$2K4.0%
Trustee / custodial$3K5.4%
Investment mgmt$18K29.2%
Contract admin$28K46.0%
Other / not subdivided$9K15.3%

% of EOY assets

0.371%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MCCANNON, ROGERS, DRISCOLL, & ASSOC
Auditor EIN: 561056216
Audit fees: $9,350
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$114,917

$83,045+38.4%

$130,026-11.6%

$71,495+60.7%

Participation rate

53.7%

74.1%-20.4pp

78.5%-24.8pp

67.9%-14.2pp

Annual return

14.67%

20.61%-5.9pp

-137.26%+151.9pp

28.85%-14.2pp

Employer contribution / active EE

$920

$2,623-64.9%

$4,321-78.7%

$2,589-64.5%

Participant deferral / active EE

$3,846

$4,436-13.3%

$5,821-33.9%

$4,291-10.4%

Admin fee / account holder

$427

$1,727-75.3%

$10,608-96.0%

$1,588-73.1%

Provider

Service type

Compensation

NEWPORT GROUP, INC.4 years

Service code 15 · EIN 27-2037969

Recordkeeping

$30,514

PNC BANK, N.A.1 year

Filed as: PNC INSTITUTIONAL ASSET MANAGEMENT

Service code 26 · EIN 22-1146430

Advisory (Participants)

$17,825

MCCANNON ROGERS DRISCOLL & ASSOC2 years

Filed as: MCCANNON,ROGERS,DRISCOLL&ASSOCIATES

Service code 10 · EIN 56-1056216

227 WEST THIRD AVENUE · GASTONIA, NC 28053

Accounting

$9,350

YALE CAROLINAS, INC. PROFIT SHARING / 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

YALE CAROLINAS, INC. PROFIT SHARING / 401(K) PLAN AND TRUST

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