Retirement plan

NORLYN ENTERPRISES INC 401(K) PROFIT SHARING PLAN & TRUST

Name: NORLYN ENTERPRISES INC - NORLYN ENTERPRISES INC 401(K) PROFIT SHARING PLAN & TRUST (2024) Form 5500
Creator: NORLYN ENTERPRISES INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORLYN ENTERPRISES INC 401(K) PROFIT SHARING PLAN & TRUST, NORLYN ENTERPRISES INC

NORLYN ENTERPRISES INCEIN 76-0670043Plan #001PY 2024

9200 DERRINGTON RD STE 100 - HOUSTON, TX 770645044888-374-3354

Prospect flagsLow returnsHigh cashLow assets / participantRecently reached 100 employees

How to read this page

Total assets (EOY)

$5.5M

+12.2% from 2023

Total participants

598

+66.1% from 2023

Average account balance

$9,611

No prior year

Annual return

7.14%

-20.20 pp from 2023

Benchmarks

See 680 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants250-999

Cohort680 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.47M

Not enough data

1 years with asset history on file

Average account balance

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

$10K

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.

569

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.

91.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.19M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+7.14%

Not enough data

1 years with return on file

Admin fee / account holder

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

$139

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
PAYCHEX, INC.2 years Service code 15 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625	Recordkeeping	$14,506
MERRILL LYNCH PIERCE FENNER & SMITH1 year Filed as: MERRILL LYNCH, PIERCE, FENNER Service code 27 · EIN 13-5674085 4 WORLD FINANCIAL CENTER · NEW YORK, NY 10281	Advisory (Plan)	$6,867
ERISA FIDUCIARY SERVICES, INC.1 year Service code 13 · EIN 47-1637791 1373 VETERANS HIGHWAY · HAUPPAUGE, NY 11788	Contract Administrator	$5,675

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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 returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$79K

$239 / participant

Trustee / custodial$8801.1%
Investment mgmt$14K18.0%
Contract admin$27K34.1%
Other / not subdivided$37K46.8%

% of EOY assets

1.445%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PEDGE
Auditor EIN: 264527814
Audit fees: $37,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$9,611

$55,441-82.7%

$76,002-87.4%

$77,671-87.6%

Participation rate

91.2%

63.6%+27.6pp

69.1%+22.1pp

70.6%+20.6pp

Annual return

7.14%

17.08%-9.9pp

360.07%-352.9pp

31.21%-24.1pp

Employer contribution / active EE

$999

$1,789-44.2%

$2,688-62.8%

$2,726-63.4%

Participant deferral / active EE

$2,599

$3,451-24.7%

$4,257-38.9%

$4,648-44.1%

Admin fee / account holder

$139

$407-65.9%

$6,414-97.8%

$430-67.7%

Provider

Service type

Compensation

PAYCHEX, INC.2 years

Service code 15 · EIN 16-1124166

911 PANORAMA TRAIL S · ROCHESTER, NY 14625

Recordkeeping

$14,506

MERRILL LYNCH PIERCE FENNER & SMITH1 year

Filed as: MERRILL LYNCH, PIERCE, FENNER

Service code 27 · EIN 13-5674085

4 WORLD FINANCIAL CENTER · NEW YORK, NY 10281

Advisory (Plan)

$6,867

ERISA FIDUCIARY SERVICES, INC.1 year

Service code 13 · EIN 47-1637791

1373 VETERANS HIGHWAY · HAUPPAUGE, NY 11788

Contract Administrator

$5,675

NORLYN ENTERPRISES INC 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORLYN ENTERPRISES INC 401(K) PROFIT SHARING PLAN & TRUST

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