Retirement plan

KELLY TRACTOR CO. SAVINGS & PROFIT SHARING PLAN

Name: KELLY TRACTOR CO. - KELLY TRACTOR CO. SAVINGS & PROFIT SHARING PLAN (2023) Form 5500
Creator: KELLY TRACTOR CO.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KELLY TRACTOR CO. SAVINGS & PROFIT SHARING PLAN, KELLY TRACTOR CO.

KELLY TRACTOR CO.EIN 59-0197630Plan #001PY 2023

8255 NW 58 STREET - MIAMI, FL 33166305-592-5374kellytractor.comLinkedIn501-1000 employeesmachinery

Prospect flagsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$60.6M

+21.0% from 2022

Total participants

566

+8.4% from 2022

Average account balance

$116,853

+14.0% from 2022

Annual return

17.70%

+34.30 pp from 2022

Benchmarks

See 1,011 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants250-999

Cohort1,011 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$69.27M

Not enough data

1 years with asset history on file

Average account balance

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

$122K

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.

567

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.

85.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.89M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+14.29%

Not enough data

1 years with return on file

Admin fee / account holder

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

$263

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 1 by compensation

Provider	Service type	Compensation
EQUITABLE ADVISORS LLC5 years Filed as: EQUITABLE LIFE INSURANCE CO. Service code 15 · EIN 13-5570651	Recordkeeping	$158,893

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
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

2 tripped

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

$159K

$343 / participant

Other / not subdivided$159K100.0%

% of EOY assets

0.262%

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: CHERRY BEKAERT, LLP
Auditor EIN: 560574444
Audit fees: $158,953
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$116,853

$52,188+123.9%

$86,640+34.9%

$74,460+56.9%

Participation rate

89.8%

66.3%+23.5pp

71.7%+18.1pp

70.7%+19.1pp

Annual return

17.70%

44.46%-26.8pp

592.52%-574.8pp

34.38%-16.7pp

Employer contribution / active EE

$3,807

$2,282+66.8%

$3,024+25.9%

$2,638+44.3%

Participant deferral / active EE

$4,176

$3,383+23.4%

$4,438-5.9%

$4,530-7.8%

Admin fee / account holder

$306

$319-3.9%

$5,616-94.5%

$348-11.9%

Provider

Service type

Compensation

EQUITABLE ADVISORS LLC5 years

Filed as: EQUITABLE LIFE INSURANCE CO.

Service code 15 · EIN 13-5570651

Recordkeeping

$158,893

KELLY TRACTOR CO. SAVINGS & PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KELLY TRACTOR CO. SAVINGS & 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