Retirement plan

KERN STEEL FABRICATION, INC. 401(K) PROFIT SHARING PLAN AND TRUST

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

KERN STEEL FABRICATION, INC.EIN 95-3267210Plan #001PY 2024

627 WILLIAMS STREET - BAKERSFIELD, CA 93305661-327-9588kernsteel.comLinkedIn51-200 employeesconstruction

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$7.3M

+2.0% from 2023

Total participants

108

-10.0% from 2023

Average account balance

$72,051

+6.0% from 2023

Annual return

17.56%

+9.07 pp from 2023

Benchmarks

See 14,164 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,164 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.35M

Not enough data

1 years with asset history on file

Average account balance

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

$72K

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.

92.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$526K

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

+17.56%

Not enough data

1 years with return on file

Admin fee / account holder

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

$270

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
PENSIONMARK FINANCIAL GROUP LLC2 years Filed as: PENSIONMARK Service code 26 5401 BUSINESS PARK SOUTH, SUITE 122 · BAKERSFIELD, CA 93309	Advisory (Participants)	$17,608
PCS RETIREMENT, LLC2 years Filed as: PCS RETIREMENT Service code 12 · EIN 23-3038464	Consulting (pension); Copying and dup...	$5,616

Plan features & details

Pension benefit codes2E2J2T2F2G3D

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.
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.

Opportunity flags

1 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$28K

$353 / participant

Recordkeeping$6K20.4%
Investment mgmt$18K63.9%
Contract admin$4K15.7%

% of EOY assets

0.375%

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: JASON UNDERWOOD CPA, PLLC
Auditor EIN: 453976013
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$72,051

$86,938-17.1%

$102,423-29.7%

$80,925-11.0%

Participation rate

92.3%

72.4%+19.9pp

76.5%+15.8pp

67.7%+24.6pp

Annual return

17.56%

18.89%-1.3pp

29.42%-11.9pp

35.65%-18.1pp

Employer contribution / active EE

$2,606

$2,369+10.0%

$3,023-13.8%

$2,756-5.4%

Participant deferral / active EE

$4,137

$4,120+0.4%

$5,054-18.2%

$4,299-3.8%

Admin fee / account holder

$270

$8,053-96.6%

$9,455-97.1%

$6,940-96.1%

Provider

Service type

Compensation

PENSIONMARK FINANCIAL GROUP LLC2 years

Filed as: PENSIONMARK

Service code 26

5401 BUSINESS PARK SOUTH, SUITE 122 · BAKERSFIELD, CA 93309

Advisory (Participants)

$17,608

PCS RETIREMENT, LLC2 years

Filed as: PCS RETIREMENT

Service code 12 · EIN 23-3038464

Consulting (pension); Copying and dup...

$5,616

KERN STEEL FABRICATION, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KERN STEEL FABRICATION, INC. 401(K) PROFIT SHARING PLAN AND 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