Retirement plan

CHOICE FABRICATORS, INC. 401(K) PLAN

Name: CHOICE FABRICATORS, INC. - CHOICE FABRICATORS, INC. 401(K) PLAN (2016) Form 5500
Creator: CHOICE FABRICATORS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHOICE FABRICATORS, INC. 401(K) PLAN, CHOICE FABRICATORS, INC.

CHOICE FABRICATORS, INC.EIN 63-0777587Plan #001PY 2016

3155 STEELE STATION ROAD - RAINBOW CITY, AL 35906256-442-0636

Prospect flagsLow participationLow assets / participantLow employer contributionLow participant contribution

How to read this page

Total assets (EOY)

$1.1M

No prior year

Total participants

212

No prior year

Average account balance

$14,939

No prior year

Annual return

5.88%

No prior year

Benchmarks

See 4,221 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,221 peers

Snapshot2016

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$2.48M

Not enough data

1 years with asset history on file

Average account balance

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

$43K

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.

22.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$145K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$569

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

+16.67%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1054

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
NATIONWIDE2+ years Filed as: NATIONWIDE LIFE INSURANCE COMPANY Service code 15 · EIN 31-4156830	Recordkeeping	$14,530
NORTHEASTERN MUTUAL INV SERVICES2+ years Service code 26	Advisory (Participants)	$9,892
NATIONWIDE2+ years Service code 15	Recordkeeping	$4,495
BENEFIT PROFESSIONALS, INC.2+ years Service code 17	Pension Consulting	$1,247
NORTHWESTERN MUTUAL INVESTMENT SERV2+ years Filed as: NORTHWESTERN MUTUAL INV. SERVICES Service code 26 ATTN IPS COMPENSATION · MILWAUKEE, WI 53202	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2K3D

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.
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

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.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$17K

$91 / participant

Investment mgmt$17K99.0%
Other / not subdivided$1751.0%

% of EOY assets

1.624%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: HERMAN, SILVER & ASSOCIATES, CPAS
Auditor EIN: 582433553
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$14,939

$60,165-75.2%

$74,183-79.9%

$55,167-72.9%

Participation rate

27.5%

74.2%-46.7pp

76.6%-49.2pp

69.0%-41.5pp

Annual return

5.88%

10.00%-4.1pp

17.74%-11.9pp

169.23%-163.3pp

Employer contribution / active EE

$108

$1,600-93.3%

$2,370-95.4%

$1,963-94.5%

Participant deferral / active EE

$484

$2,973-83.7%

$3,550-86.4%

$3,054-84.1%

Admin fee / account holder

$243

$419-42.1%

$5,586-95.7%

$504-51.9%

Provider

Service type

Compensation

NATIONWIDE2+ years

Filed as: NATIONWIDE LIFE INSURANCE COMPANY

Service code 15 · EIN 31-4156830

Recordkeeping

$14,530

NORTHEASTERN MUTUAL INV SERVICES2+ years

Service code 26

Advisory (Participants)

$9,892

NATIONWIDE2+ years

Service code 15

Recordkeeping

$4,495

BENEFIT PROFESSIONALS, INC.2+ years

Service code 17

Pension Consulting

$1,247

NORTHWESTERN MUTUAL INVESTMENT SERV2+ years

Filed as: NORTHWESTERN MUTUAL INV. SERVICES

Service code 26

ATTN IPS COMPENSATION · MILWAUKEE, WI 53202

Advisory (Participants)

CHOICE FABRICATORS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHOICE FABRICATORS, INC. 401(K) 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