Retirement plan
SAS RETIREMENT PLAN
SAS INSTITUTE INC.EIN 56-1133017Plan #001PY 2021
Prospect flagsLow returnsHigh assets / participantFailed to provide benefitCorrective distributions
Filing contacts
From the Form 5500, federal recordPlan administrator signer
CHRIS BYRON
Signed 10/26/2023
Summary metrics
Total assets (EOY)
$3625.5M
-9.5% from 2016
Total participants
8,421
-1.8% from 2016
Average account balance
$439,299
-6.5% from 2016
Annual return
13.88%
-7.95 pp from 2016
Benchmarks
Peer group
Industry54 - Professional, Scientific, and Technical Services
Plan typeDefined contribution
Participants5,000-9,999
Cohort92 peers
Snapshot2021
93
Participant deferral / active EE
$14,870
median $6,412
87
Employer contribution / active EE
$8,509
median $2,253
79
Participation rate
97.2%
median 89.0%
100
Avg account balance
$439,299
median $90,148
98
Admin fee / account holder
-$71
median $69
11
Annual return
13.88%
median 17.41%
Overall peer rank
78of 100
78th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$3.67B
Average account balance
Total assets / participants with a balance (line 6g)
$437K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
8,404
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
97.9%
Contributions (total)
Employer and participant dollars contributed each year
$161.96M
Contributions per participant
Average employer and participant contribution per enrolled participant
$26K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+15.48%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$-114
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 2 by compensation
| Provider | Service type | Compensation |
|---|---|---|
BDO USA, LLP7+ years Service code 10 · EIN 13-5381590 | Accounting | $15,000 |
Service code 37 · EIN 04-2647786 | Loan Processing | -$603,521 |
Top hat statement on fileNQDC
Filed January 7, 2025
Plan administrator
Plans declared (1)
- SAS Institute Inc. Nonqualified Deferred Compensation Plan159 emp
Plan features & details
Pension benefit codes2E2F2G2J2K2T3F3H
Plan features
- 2EProfit-sharingProfit-sharing plan.
- 2FERISA section 404(c) planThis plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
- 2GTotal participant-directed account planParticipants 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.
- 2JCode section 401(k) featureCash 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.
- 2KCode section 401(m) arrangementEmployee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
- 2TDefault investment accountTotal or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
- 3FLeased employeesPlan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
4 tripped
- OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
- ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
- ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
- InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.
Expense breakdown
Schedule H Part II
Plan-level admin expenses are zero - fees are likely paid at the master-trust level rather than the individual plan.
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- BDO USA, LLP
- Auditor EIN
- 135381590
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified