Retirement plan

KONIAG RETIREMENT PLAN

Name: KONIAG, INC. - KONIAG RETIREMENT PLAN (2023) Form 5500
Creator: KONIAG, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KONIAG RETIREMENT PLAN, KONIAG, INC.

KONIAG, INC.EIN 92-0042743Plan #001PY 2023

3800 CENTERPOINT DR STE 700 - ANCHORAGE, AK 995035801907-561-2668koniag.comLinkedIn1001-5000 employeesinvestment management

Other plans on this EIN

1 filing

#002Retirement-$61.7M assets

Prospect flagsLow assets / participantFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed June 11, 2024 (most recent of 3 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

3800 Centerpoint Drive, Suite 700

Anchorage, AK 99503

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Plans declared (1)

Koniag Nonqualified Deferred Compensation Plan9 emp

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Total assets (EOY)

$96.4M

+44.6% from 2022

Total participants

3,314

+18.7% from 2022

Average account balance

$29,970

+21.4% from 2022

Annual return

25.93%

+39.23 pp from 2022

Benchmarks

See 929 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort929 peers

Snapshot2023

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

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Analytics

Total assets (EOY)

Plan-year ending balance

$130.47M

Not enough data

1 years with asset history on file

Average account balance

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

$34K

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.

3,834

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.

79.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$27.57M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+22.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$76

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

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Service providers

Top 7 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS9+ years Service code 12 · EIN 13-3689044	Participant loan processing; Recordke...	$116,810
FORVIS MAZARS, LLP2 years Filed as: FORVIS LLP Service code 10 · EIN 44-0160260	Accounting	$50,400
PLANNING CORP OF AMERICA7 years Filed as: PLANNING SOLUTIONS GROUP Service code 16 · EIN 92-0042738	Consulting	$20,000
NATIONAL FINACIAL SERVICES1 year Service code 33	Securities brokerage commissions and ...	$0
NATIONAL FINANCIAL SERVICES9+ years Service code 33 · EIN 04-3523567	Securities brokerage; Securities brok...	$0
TRANSAMERICA RETIREMENT SOLUTIONS1 year Filed as: TRANSAMERICA RETIRMENT SOLUTIONS Service code 12	Recordkeeping and information managem...	$0
TRANSAMERICA RETIREMENT SOLUTIONS1 year Filed as: TRANSMERICA RETIREMENT SOLUTIONS Service code 12	Recordkeeping and information managem...	$0

Plan features & details

Pension benefit codes2F2G2J2K2S2T3D3H

Plan features

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

3 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$187K

$77 / participant

Recordkeeping$117K62.4%
Investment mgmt$20K10.7%
Other / not subdivided$50K26.9%

% of EOY assets

0.194%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: FORVIS MAZARS
Auditor EIN: 440160260
Audit fees: $50,400
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$29,970

$107,459-72.1%

$135,903-77.9%

$80,160-62.6%

Participation rate

95.9%

78.0%+17.9pp

81.9%+14.0pp

72.9%+23.0pp

Annual return

25.93%

91.91%-66.0pp

68.23%-42.3pp

40.38%-14.5pp

Employer contribution / active EE

$2,304

$3,877-40.6%

$4,856-52.6%

$2,978-22.6%

Participant deferral / active EE

$7,322

$8,195-10.6%

$7,758-5.6%

$5,017+45.9%

Admin fee / account holder

$58

$127-54.1%

$10,762-99.5%

$145-59.8%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS9+ years

Service code 12 · EIN 13-3689044

Participant loan processing; Recordke...

$116,810

FORVIS MAZARS, LLP2 years

Filed as: FORVIS LLP

Service code 10 · EIN 44-0160260

Accounting

$50,400

PLANNING CORP OF AMERICA7 years

Filed as: PLANNING SOLUTIONS GROUP

Service code 16 · EIN 92-0042738

Consulting

$20,000

NATIONAL FINACIAL SERVICES1 year

Service code 33

Securities brokerage commissions and ...

NATIONAL FINANCIAL SERVICES9+ years

Service code 33 · EIN 04-3523567

Securities brokerage; Securities brok...

TRANSAMERICA RETIREMENT SOLUTIONS1 year

Filed as: TRANSAMERICA RETIRMENT SOLUTIONS

Service code 12

Recordkeeping and information managem...

TRANSAMERICA RETIREMENT SOLUTIONS1 year

Filed as: TRANSMERICA RETIREMENT SOLUTIONS

Service code 12

Recordkeeping and information managem...

KONIAG RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KONIAG RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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