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 (2019) 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 2019

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

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$8.6M

+2.1% from 2018

Total participants

139

+3.0% from 2018

Average account balance

$71,980

+3.0% from 2018

Annual return

2.82%

-2.36 pp from 2018

Benchmarks

See 4,277 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,277 peers

Snapshot2019

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 PARTNERS4+ years Filed as: SIERRA SHORE FINANCIAL Service code 26 P.O. BOX 47 · PISMO BEACH, CA 93448	Advisory (Participants)	$20,726
EPIC RETIREMENT PLAN SERVICES3 years Filed as: RETIREMENT PLAN CONSULTANTS Service code 13 · EIN 77-0586222 7647 N. FRESNO ST. SUITE 102 · FRESNO, CA 93720	Contract Administrator	$3,075

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

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$24K

$200 / participant

Investment mgmt$21K86.5%
Contract admin$3K12.8%
Other / not subdivided$1600.7%

% of EOY assets

0.277%

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

$71,980

$65,376+10.1%

$87,104-17.4%

$65,185+10.4%

Participation rate

84.2%

75.3%+8.8pp

76.9%+7.3pp

70.2%+14.0pp

Annual return

2.82%

31.27%-28.4pp

28.19%-25.4pp

29.38%-26.6pp

Employer contribution / active EE

$1,750

$1,822-4.0%

$2,521-30.6%

$2,177-19.6%

Participant deferral / active EE

$2,205

$3,388-34.9%

$4,048-45.5%

$3,514-37.2%

Admin fee / account holder

$200

$520-61.6%

$7,491-97.3%

$847-76.4%

Provider

Service type

Compensation

INDEPENDENT FINANCIAL PARTNERS4+ years

Filed as: SIERRA SHORE FINANCIAL

Service code 26

P.O. BOX 47 · PISMO BEACH, CA 93448

Advisory (Participants)

$20,726

EPIC RETIREMENT PLAN SERVICES3 years

Filed as: RETIREMENT PLAN CONSULTANTS

Service code 13 · EIN 77-0586222

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

Contract Administrator

$3,075

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