Retirement plan

KITTY HAWK KITES, INC. 401K PROFIT SHARING PLAN

Name: KITTY HAWK KITES, INC. - KITTY HAWK KITES, INC. 401K PROFIT SHARING PLAN (2016) Form 5500
Creator: KITTY HAWK KITES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KITTY HAWK KITES, INC. 401K PROFIT SHARING PLAN, KITTY HAWK KITES, INC.

KITTY HAWK KITES, INC.EIN 56-1676554Plan #001PY 2016

P O BOX 1839 - NAGS HEAD, NC 27959252-441-4127

Prospect flagsLow fidelity bondCorrective distributions

How to read this page

Total assets (EOY)

$2.2M

+11.1% from 2015

Total participants

-24.6% from 2015

Average account balance

$22,437

+50.1% from 2015

Annual return

7.63%

+11.16 pp from 2015

Benchmarks

See 2,077 peers

Peer group

Industry45 - Retail Trade

Plan typeDefined contribution

Participants25-99

Cohort2,077 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.58M

Not enough data

1 years with asset history on file

Average account balance

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

$48K

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.

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.

169.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$325K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+10.84%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2490

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

0 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
HUTCHINS & HAAKE LLC2+ years Filed as: HUTCHINS ALLEN & COMPANY Service code 20 4720 N. CROATAN HWY · KITTY HAWK, NC 27949	Trustee (individual)	$11,333
MVP PLAN ADMINISTRATORS, INC.1 year Service code 13 · EIN 56-2263714	Contract Administrator	$6,060

Plan features & details

Pension benefit codes2A2E2J2K3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
2E
Profit-sharing
Profit-sharing plan.
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.
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

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$17K

$290 / participant

Investment mgmt$11K65.2%
Contract admin$6K34.8%

% of EOY assets

0.799%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SHARRARD, MCGEE & CO, PA
Auditor EIN: 561146197
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$22,437

$49,025-54.2%

$87,502-74.4%

$62,881-64.3%

Participation rate

98.3%

64.9%+33.5pp

73.8%+24.5pp

69.3%+29.0pp

Annual return

7.63%

10.02%-2.4pp

12.21%-4.6pp

20.14%-12.5pp

Employer contribution / active EE

$1,250

$1,372-8.9%

$2,550-51.0%

$2,281-45.2%

Participant deferral / active EE

$1,046

$2,289-54.3%

$3,149-66.8%

$3,203-67.3%

Admin fee / account holder

$179

$4,065-95.6%

$4,221-95.8%

$4,296-95.8%

Provider

Service type

Compensation

HUTCHINS & HAAKE LLC2+ years

Filed as: HUTCHINS ALLEN & COMPANY

Service code 20

4720 N. CROATAN HWY · KITTY HAWK, NC 27949

Trustee (individual)

$11,333

MVP PLAN ADMINISTRATORS, INC.1 year

Service code 13 · EIN 56-2263714

Contract Administrator

$6,060

KITTY HAWK KITES, INC. 401K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KITTY HAWK KITES, INC. 401K 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