Retirement plan

ACE HARDWARE OF CHATTANOOGA 401(K) PROFIT SHARING PLAN

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

ACE HARDWARE OF CHATTANOOGA, INC.EIN 62-0803002Plan #001PY 2023

4921 HIGHWAY 58 - CHATTANOOGA, TN 37416423-899-6306tnacehardware.stihldealer.netLinkedIn201-500 employeesretail

Prospect flagsHigh feesLow participationLow participant contributionCorrective distributions

How to read this page

Total assets (EOY)

$10.7M

+20.4% from 2022

Total participants

370

+7.2% from 2022

Average account balance

$64,578

+11.6% from 2022

Annual return

17.60%

+33.35 pp from 2022

Benchmarks

See 1,316 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,316 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.77M

Not enough data

1 years with asset history on file

Average account balance

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

$73K

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.

176

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.

35.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$816K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+16.20%

Not enough data

1 years with return on file

Admin fee / account holder

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

$412

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
RAYMOND JAMES FINANCIAL SERVICES8 years Filed as: RAYMOND JAMES & ASSOCIATES Service code 27 · EIN 59-1237041	Advisory (Plan)	$32,287
ASCENSUS LLC6 years Service code 15 · EIN 11-3665754	Recordkeeping	$17,298
JOHNSON BANK7 years Filed as: JOHNSON, HICKEY, MURCHISON Service code 10 2215 OLAN MILLS DR · CHATTANOOGA, TN 37421	Accounting	$5,000

Plan features & details

Pension benefit codes2E3D2G2J2K2F2T3H

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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$55K

$160 / participant

Investment mgmt$32K59.1%
Contract admin$17K31.7%
Other / not subdivided$5K9.2%

% of EOY assets

0.512%

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: JOHNSON, HICKEY & MURCHISON
Auditor EIN: 621046406
Audit fees: $5,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$64,578

$53,165+21.5%

$86,235-25.1%

$74,473-13.3%

Participation rate

40.1%

64.9%-24.8pp

69.0%-28.9pp

70.7%-30.7pp

Annual return

17.60%

22.64%-5.0pp

1170.03%-1152.4pp

34.36%-16.8pp

Employer contribution / active EE

$755

$1,210-37.6%

$2,381-68.3%

$2,638-71.4%

Participant deferral / active EE

$1,303

$3,234-59.7%

$3,987-67.3%

$4,530-71.2%

Admin fee / account holder

$331

$551-40.0%

$6,856-95.2%

$347-4.7%

Provider

Service type

Compensation

RAYMOND JAMES FINANCIAL SERVICES8 years

Filed as: RAYMOND JAMES & ASSOCIATES

Service code 27 · EIN 59-1237041

Advisory (Plan)

$32,287

ASCENSUS LLC6 years

Service code 15 · EIN 11-3665754

Recordkeeping

$17,298

JOHNSON BANK7 years

Filed as: JOHNSON, HICKEY, MURCHISON

Service code 10

2215 OLAN MILLS DR · CHATTANOOGA, TN 37421

Accounting

$5,000

ACE HARDWARE OF CHATTANOOGA 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ACE HARDWARE OF CHATTANOOGA 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