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 (2018) 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 2018

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

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$8.5M

-3.6% from 2017

Total participants

135

-2.9% from 2017

Average account balance

$69,917

+1.9% from 2017

Annual return

5.19%

-0.35 pp from 2017

Benchmarks

See 4,209 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,209 peers

Snapshot2018

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
INDEPENDENT FINANCIAL PARTNERS3+ years Filed as: SIERRA SHORE FINANCIAL Service code 26 P.O. BOX 47 · PISMO BEACH, CA 93448	Advisory (Participants)	$16,241
EPIC RETIREMENT PLAN SERVICES2 years Filed as: RETIREMENT PLAN CONSULTANTS Service code 13 · EIN 77-0586222 7647 N. FRESNO ST. SUITE 102 · FRESNO, CA 93720	Contract Administrator	$7,171

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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

$27K

$244 / participant

Investment mgmt$16K60.5%
Contract admin$7K26.7%
Other / not subdivided$3K12.8%

% of EOY assets

0.318%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$69,917

$59,191+18.1%

$76,767-8.9%

$56,289+24.2%

Participation rate

87.3%

75.2%+12.1pp

77.0%+10.3pp

69.9%+17.4pp

Annual return

5.19%

6.62%-1.4pp

2.43%+2.8pp

-9.96%+15.1pp

Employer contribution / active EE

$1,710

$1,759-2.8%

$2,485-31.2%

$2,111-19.0%

Participant deferral / active EE

$2,387

$3,255-26.7%

$3,852-38.0%

$3,350-28.7%

Admin fee / account holder

$222

$489-54.6%

$6,675-96.7%

$521-57.4%

Provider

Service type

Compensation

INDEPENDENT FINANCIAL PARTNERS3+ years

Filed as: SIERRA SHORE FINANCIAL

Service code 26

P.O. BOX 47 · PISMO BEACH, CA 93448

Advisory (Participants)

$16,241

EPIC RETIREMENT PLAN SERVICES2 years

Filed as: RETIREMENT PLAN CONSULTANTS

Service code 13 · EIN 77-0586222

7647 N. FRESNO ST. SUITE 102 · FRESNO, CA 93720

Contract Administrator

$7,171

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