Retirement plan

KARSTEN FINANCIAL GROUP

Name: KARSTEN FINANCIAL GROUP - KARSTEN FINANCIAL GROUP (2022) Form 5500
Creator: KARSTEN FINANCIAL GROUP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KARSTEN FINANCIAL GROUP, KARSTEN FINANCIAL GROUP

KARSTEN FINANCIAL GROUPEIN 83-2014070Plan #001PY 2022

24 E. MAIN ST. - FREMONT, MI 49412231-557-0159

Prospect flagsLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$703K

-5.8% from 2021

Total participants

+33.3% from 2021

Average account balance

$234,473

-5.8% from 2021

Annual return

-14.02%

-33.56 pp from 2021

Benchmarks

See 35,205 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort35,205 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$964K

Not enough data

1 years with asset history on file

Average account balance

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

$482K

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.

66.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$64K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$21K

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

+11.99%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2H2J3D

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$234,473

$167,533+40.0%

$151,645+54.6%

$134,545+74.3%

Participation rate

66.7%

88.4%-21.7pp

87.5%-20.8pp

81.2%-14.6pp

Annual return

-14.02%

7.81%-21.8pp

3.34%-17.4pp

418.37%-432.4pp

Employer contribution / active EE

$5,072

$6,828-25.7%

$6,165-17.7%

$4,742+7.0%

Participant deferral / active EE

$15,489

$8,985+72.4%

$8,363+85.2%

$6,401+142.0%

Admin fee / account holder

$13,781-100.0%

$11,614-100.0%

$11,431-100.0%

KARSTEN FINANCIAL GROUP

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

KARSTEN FINANCIAL GROUP

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion