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 (2023) 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 2023

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

Prospect flagsLow returnsRecently reached 100 employees

How to read this page

Total assets (EOY)

$7.2M

+5.8% from 2022

Total participants

120

-5.5% from 2022

Average account balance

$67,957

-13.2% from 2022

Annual return

8.49%

+17.11 pp from 2022

Benchmarks

See 14,456 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,456 peers

Snapshot2023

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 LLC1 year Filed as: PENSIONMARK Service code 26 5401 BUSINESS PARK SOUTH, SUITE 122 · BAKERSFIELD, CA 93309	Advisory (Participants)	$14,602
PCS RETIREMENT, LLC1 year Filed as: PCS RETIREMENT Service code 12 · EIN 23-3038464	Recordkeeping and information managem...	$12,601

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

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$27K

$316 / participant

Investment mgmt$13K46.3%
Contract admin$15K53.7%

% of EOY assets

0.378%

all-in expense ratio

Categories reported

2 / 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

$67,957

$80,992-16.1%

$96,534-29.6%

$75,173-9.6%

Participation rate

83.7%

71.8%+11.9pp

76.0%+7.7pp

67.2%+16.5pp

Annual return

8.49%

27.05%-18.6pp

25.88%-17.4pp

160.72%-152.2pp

Employer contribution / active EE

$2,278

$2,283-0.2%

$2,965-23.2%

$2,671-14.7%

Participant deferral / active EE

$3,318

$3,929-15.6%

$4,851-31.6%

$4,126-19.6%

Admin fee / account holder

$257

$6,717-96.2%

$8,253-96.9%

$5,651-95.5%

Provider

Service type

Compensation

PENSIONMARK FINANCIAL GROUP LLC1 year

Filed as: PENSIONMARK

Service code 26

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

Advisory (Participants)

$14,602

PCS RETIREMENT, LLC1 year

Filed as: PCS RETIREMENT

Service code 12 · EIN 23-3038464

Recordkeeping and information managem...

$12,601

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