Retirement plan

ACE INDUSTRIES, INC. 401(K) PROFIT SHARING PLAN

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

ACE INDUSTRIES, INC.EIN 58-1290230Plan #001PY 2023

6295 MCDONOUGH DR. - NORCROSS, GA 30093770-441-0898aceindustries.comLinkedIn201-500 employeesmachinery

Prospect flagsHigh feesLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$14.8M

+16.4% from 2022

Total participants

341

+6.9% from 2022

Average account balance

$91,745

+11.4% from 2022

Annual return

15.15%

+31.58 pp from 2022

Benchmarks

See 1,359 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants250-999

Cohort1,359 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.08M

Not enough data

1 years with asset history on file

Average account balance

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

$100K

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.

170

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.

41.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.53M

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

+12.05%

Not enough data

1 years with return on file

Admin fee / account holder

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

$594

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
MORGAN STANLEY SMITH BARNEY6 years Filed as: MORGAN STANLEY Service code 27 · EIN 26-4310632	Advisory (Plan)	$39,505
TRANSAMERICA RETIREMENT SOLUTIONS1 year Filed as: TRANSAMERICA RETIREMENT SOLUTIONS, Service code 15 · EIN 13-3689044	Recordkeeping	$36,099
ASCENSUS LLC4 years Filed as: FUTUREPLAN BY ASCENSUS Service code 15 · EIN 82-3719843	Recordkeeping	$11,052

Plan features & details

Pension benefit codes2A2E2J2F2G3D

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.
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.
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.

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.)
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

$88K

$286 / participant

Contract admin$88K100.0%

% of EOY assets

0.598%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SEAY & WEISSINGER, LLC
Auditor EIN: 611663588
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$91,745

$91,406+0.4%

$130,062-29.5%

$74,473+23.2%

Participation rate

41.7%

77.8%-36.1pp

78.5%-36.8pp

70.7%-29.0pp

Annual return

15.15%

23.21%-8.1pp

-137.37%+152.5pp

34.36%-19.2pp

Employer contribution / active EE

$1,076

$2,565-58.1%

$4,322-75.1%

$2,638-59.2%

Participant deferral / active EE

$3,394

$4,724-28.2%

$5,821-41.7%

$4,530-25.1%

Admin fee / account holder

$549

$283+93.8%

$10,601-94.8%

$347+58.2%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY6 years

Filed as: MORGAN STANLEY

Service code 27 · EIN 26-4310632

Advisory (Plan)

$39,505

TRANSAMERICA RETIREMENT SOLUTIONS1 year

Filed as: TRANSAMERICA RETIREMENT SOLUTIONS,

Service code 15 · EIN 13-3689044

Recordkeeping

$36,099

ASCENSUS LLC4 years

Filed as: FUTUREPLAN BY ASCENSUS

Service code 15 · EIN 82-3719843

Recordkeeping

$11,052

ACE INDUSTRIES, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ACE INDUSTRIES, INC. 401(K) 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