Retirement plan

SHERMAN OIL CO., INC. 401(K) PROFIT SHARING RETIREMENT PLAN

Name: SHERMAN OIL CO., INC. - SHERMAN OIL CO., INC. 401(K) PROFIT SHARING RETIREMENT PLAN (2022) Form 5500
Creator: SHERMAN OIL CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHERMAN OIL CO., INC. 401(K) PROFIT SHARING RETIREMENT PLAN, SHERMAN OIL CO., INC.

SHERMAN OIL CO., INC.EIN 04-2307688Plan #001PY 2022

82 WARE STREET, P.O. BOX 376 - WEST BROOKFIELD, MA 01585508-867-7447LinkedIn11-50 employeesretail

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$1.6M

-9.5% from 2021

Total participants

0.0% from 2021

Average account balance

$81,827

-4.7% from 2021

Annual return

-14.64%

-24.14 pp from 2021

Benchmarks

See 9,164 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,164 peers

Snapshot2022

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$2.09M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$70K

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.

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.

58.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$152K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+11.04%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$2221

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

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D3H

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$48K

$1451 / participant

Other / not subdivided$48K100.0%

% of EOY assets

3.079%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$81,827

$81,870-0.1%

$119,608-31.6%

$68,495+19.5%

Participation rate

54.5%

71.9%-17.3pp

79.3%-24.7pp

67.9%-13.3pp

Annual return

-14.64%

-23.82%+9.2pp

-14.98%+0.3pp

-7.84%-6.8pp

Employer contribution / active EE

$1,398

$2,692-48.1%

$4,232-67.0%

$2,596-46.2%

Participant deferral / active EE

$2,301

$4,148-44.5%

$5,601-58.9%

$4,028-42.9%

Admin fee / account holder

$2,520

$6,583-61.7%

$10,326-75.6%

$5,403-53.4%

SHERMAN OIL CO., INC. 401(K) PROFIT SHARING RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHERMAN OIL CO., INC. 401(K) PROFIT SHARING RETIREMENT PLAN

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