Retirement plan

AJAX TURNER CO., INC. 401K PROFIT SHARING PLAN

Name: AJAX TURNER CO., INC. - AJAX TURNER CO., INC. 401K PROFIT SHARING PLAN (2022) Form 5500
Creator: AJAX TURNER CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AJAX TURNER CO., INC. 401K PROFIT SHARING PLAN, AJAX TURNER CO., INC.

AJAX TURNER CO., INC.EIN 62-0645490Plan #002PY 2022

4010 CENTREPOINTE WAY - LAVERGNE, TN 37086615-244-2424ajaxturner.comLinkedIn201-500 employeesfood & beverages

Prospect flagsHigh feesCorrective distributions

Top hat statement on fileNQDC

Filed April 24, 2024

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Total assets (EOY)

$23.3M

-14.2% from 2021

Total participants

456

+4.8% from 2021

Average account balance

$51,632

-21.8% from 2021

Annual return

-16.38%

-30.37 pp from 2021

Benchmarks

See 2,289 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,289 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$28.20M

Not enough data

1 years with asset history on file

Average account balance

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

$58K

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.

482

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.

99.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.96M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+12.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$341

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

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Service providers

Top 1 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY8+ years Service code 15 · EIN 01-0233346 PO BOX 600 · BUFFALO, NY 142010600	Recordkeeping	$800

Plan features & details

Pension benefit codes3D2E2G2J2K

Plan features

2E
Profit-sharing
Profit-sharing plan.
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

$137K

$579 / participant

Investment mgmt$124K90.3%
Contract admin$3K2.0%
Other / not subdivided$10K7.6%

% of EOY assets

0.588%

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: CARR RIGGS & INGRAM, LLC
Auditor EIN: 721396621
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$51,632

$86,692-40.4%

$119,634-56.8%

$66,949-22.9%

Participation rate

98.3%

75.6%+22.7pp

79.3%+19.0pp

69.8%+28.5pp

Annual return

-16.38%

-8.00%-8.4pp

-14.98%-1.4pp

1.57%-17.9pp

Employer contribution / active EE

$3,451

$2,536+36.1%

$4,232-18.5%

$2,545+35.6%

Participant deferral / active EE

$3,747

$4,360-14.1%

$5,601-33.1%

$4,239-11.6%

Admin fee / account holder

$303

$755-59.8%

$10,329-97.1%

$594-48.9%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY8+ years

Service code 15 · EIN 01-0233346

PO BOX 600 · BUFFALO, NY 142010600

Recordkeeping

$800

AJAX TURNER CO., INC. 401K PROFIT SHARING PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AJAX TURNER CO., INC. 401K PROFIT SHARING PLAN

Top hat statement on fileNQDC

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