How much does Kirkham-Michael, Inc. contribute to its ESOP?

In 2023, employer contributions to the Kirkham-Michael, Inc. plan averaged $7,404 per active participant, above the $2,440 median for plans of similar size. Public filings report contribution dollars, not the match formula; the formula is in the plan's summary plan description.

What is the average account balance in the Kirkham-Michael, Inc. 401(k)?

The average participant account balance was $169,231 for plan year 2023, based on 118 accounts.

Kirkham-Michael, Inc.ESOP

Name: Kirkham-Michael, Inc. 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

KIRKHAM-MICHAEL, INC EMPLOYEE STOCK OWNERSHIP PLAN · OMAHA, NE · plan year 2023

Employer contribution per participant · 2023

$7,404

Kirkham-Michael, Inc.'s 2023 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $19,969,316 across 118 participant accounts, with employer contributions averaging $7,404 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $10M–$50M size bracket, benchmarked here against 26,779 comparable plans and shown alongside other professional & technical services employers. By assets it is the 248th-largest of 565 plans among Nebraska employers on file, and the 5,550th of 11,654 in professional & technical services.

Plan summary
Net assets, end of year$19,969,316
Participants with balances118
Active participants89
Employer contributions$658,977
Employee contributions—
Employer contribution per active participant$7,404
Average account balance$169,231
Benefits paid to participants$1,819,074
Plan auditUnmodified (clean) audit opinion
AuditorLENGEMANN & ASSOCIATES, P.C.

Plan history2

Yearassets · accounts · employer contribution

2023$20.0M · 118 accts · $659K emplr

2022$18.4M · 102 accts · $490K emplr

Employer contributions to the Kirkham-Michael, Inc. plan · 2023

Employer contribution per active participant$7,404

Median for plans this size$2,440

2023$7,404 per active participant

2022$6,285 per active participant

Kirkham-Michael, Inc.'s 2023 employer contribution ran above the $2,440 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

Administrative cost history2

2023Not separately reported

2022Not separately reported

All plans at this employer2

KIRKHAM-MICHAEL, INC EMPLOYEE STOCK OWNERSHIP PLANESOP

KIRKHAM-MICHAEL, INC. AND AFFILIATES EMPLOYEES 401(K) PLAN401(k)

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Source: U.S. Department of Labor, Form 5500 series, EIN 470467468 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.