Retirement plan

PREFERRED COMPANIES 401(K) PLAN

Name: PREFERRED COMPANIES - PREFERRED COMPANIES 401(K) PLAN (2024) Form 5500
Creator: PREFERRED COMPANIES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PREFERRED COMPANIES 401(K) PLAN, PREFERRED COMPANIES

PREFERRED COMPANIESEIN 85-4220981Plan #001PY 2024

6673 PINE RIDGE COURT SW SUITE C - JENISON, MI 49428616-272-6334

Prospect flagsLow participationLow assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$1.4M

+29.8% from 2023

Total participants

135

-12.3% from 2023

Average account balance

$14,192

+33.6% from 2023

Annual return

13.87%

-28.37 pp from 2023

Benchmarks

See 14,172 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,172 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.45M

Not enough data

1 years with asset history on file

Average account balance

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

$14K

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.

102

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.

64.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$379K

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

+13.87%

Not enough data

1 years with return on file

Admin fee / account holder

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

$15

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 2 by compensation

Provider	Service type	Compensation
EPIC RETIREMENT PLAN SERVICES3+ years Filed as: KDP RETIREMENT PLAN SERVICES INC Service code 10 3060 LAKE EASTBROOK BLVD SE · GRAND RAPIDS, MI 49512	Accounting	$1,050
AMERICAN FUNDS3+ years Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI Service code 15 · EIN 82-4555287 6455 IRVINE CENTER DRIVE · IRVINE, CA 92618	Recordkeeping	$475

Plan features & details

Pension benefit codes2E2J2K2F2G3D3H

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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$2K

$16 / participant

Other / not subdivided$2K100.0%

% of EOY assets

0.105%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: KIMBERLIN COMPANY, PLLC
Auditor EIN: 455497718
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$14,192

$86,919-83.7%

$102,457-86.1%

$80,911-82.5%

Participation rate

64.5%

72.4%-7.9pp

76.5%-12.0pp

67.6%-3.1pp

Annual return

13.87%

18.90%-5.0pp

29.41%-15.5pp

35.63%-21.8pp

Employer contribution / active EE

$1,591

$2,368-32.8%

$3,022-47.3%

$2,756-42.3%

Participant deferral / active EE

$2,484

$4,119-39.7%

$5,054-50.9%

$4,297-42.2%

Admin fee / account holder

$15

$8,049-99.8%

$9,451-99.8%

$6,935-99.8%

Provider

Service type

Compensation

EPIC RETIREMENT PLAN SERVICES3+ years

Filed as: KDP RETIREMENT PLAN SERVICES INC

Service code 10

3060 LAKE EASTBROOK BLVD SE · GRAND RAPIDS, MI 49512

Accounting

$1,050

AMERICAN FUNDS3+ years

Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI

Service code 15 · EIN 82-4555287

6455 IRVINE CENTER DRIVE · IRVINE, CA 92618

Recordkeeping

$475

PREFERRED COMPANIES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PREFERRED COMPANIES 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