Retirement plan

SPS NEW ENGLAND, INC. PROFIT SHARING/RETIREMENT PLAN

Name: SPS NEW ENGLAND, INC. - SPS NEW ENGLAND, INC. PROFIT SHARING/RETIREMENT PLAN (2023) Form 5500
Creator: SPS NEW ENGLAND, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPS NEW ENGLAND, INC. PROFIT SHARING/RETIREMENT PLAN, SPS NEW ENGLAND, INC.

SPS NEW ENGLAND, INC.EIN 04-2741165Plan #002PY 2023

98 ELM STREET - SALISBURY, MA 01952978-462-6543spsnewengland.comLinkedIn201-500 employeesconstruction

Other plans on this EIN

1 filing

#003Retirement-$18.6M assets

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$39.7M

+9.9% from 2022

Total participants

364

-17.3% from 2022

Average account balance

$132,342

+22.0% from 2022

Annual return

16.56%

+31.42 pp from 2022

Benchmarks

See 3,251 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,251 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$42.20M

Not enough data

1 years with asset history on file

Average account balance

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

$143K

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.

296

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.

67.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.83M

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

+14.20%

Not enough data

1 years with return on file

Admin fee / account holder

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

$85

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 7 by compensation

Provider	Service type	Compensation
RSM US LLP1 year Filed as: MCGLADREY LLP Service code 10 5155 PAYSPHERE CIRCLE · CHICAGO, IL 60674	Accounting	$21,000
LPL FINANCIAL6 years Filed as: NEXT FINANCIAL GROUP INC Service code 55 2500 WILCREST DR 620 · HOUSTON, TX 77042	Other Commissions	$19,035
LEAFHOUSE FINANCIAL ADVISORS, LLC5 years Service code 27 6504 BRIDGE POINT PKWY STE 450 · AUSTIN, TX 78730	Advisory (Plan)	$14,610
THE ANGELL PENSION GROUP, INC.9+ years Service code 13	Contract Administrator	$10,000
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$9,066
THE ANGELL PENSION GROUP, INC.9+ years Filed as: THE ANGELL PENSION GROUP INC Service code 13 88 BOYD AVE · EAST PROVIDENCE, RI 02914	Contract Administrator	$4,875
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3H

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.
2K
Code section 401(m) arrangement
Employee 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.
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.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$50K

$211 / participant

Recordkeeping$5631.1%
Investment mgmt$24K47.2%
Contract admin$5K9.7%
Other / not subdivided$21K41.9%

% of EOY assets

0.126%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: LITMAN GERSON ASSOCIATES, LLP
Auditor EIN: 042694095
Audit fees: $21,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$132,342

$76,696+72.6%

$96,538+37.1%

$71,529+85.0%

Participation rate

73.1%

66.6%+6.5pp

74.3%-1.2pp

67.9%+5.2pp

Annual return

16.56%

48.32%-31.8pp

35.74%-19.2pp

28.97%-12.4pp

Employer contribution / active EE

$3,032-100.0%

$3,740-100.0%

$2,590-100.0%

Participant deferral / active EE

$6,862

$3,770+82.0%

$4,880+40.6%

$4,291+59.9%

Admin fee / account holder

$167

$2,030-91.8%

$6,737-97.5%

$1,588-89.5%

Provider

Service type

Compensation

RSM US LLP1 year

Filed as: MCGLADREY LLP

Service code 10

5155 PAYSPHERE CIRCLE · CHICAGO, IL 60674

Accounting

$21,000

LPL FINANCIAL6 years

Filed as: NEXT FINANCIAL GROUP INC

Service code 55

2500 WILCREST DR 620 · HOUSTON, TX 77042

Other Commissions

$19,035

LEAFHOUSE FINANCIAL ADVISORS, LLC5 years

Service code 27

6504 BRIDGE POINT PKWY STE 450 · AUSTIN, TX 78730

Advisory (Plan)

$14,610

THE ANGELL PENSION GROUP, INC.9+ years

Service code 13

Contract Administrator

$10,000

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$9,066

THE ANGELL PENSION GROUP, INC.9+ years

Filed as: THE ANGELL PENSION GROUP INC

Service code 13

88 BOYD AVE · EAST PROVIDENCE, RI 02914

Contract Administrator

$4,875

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

SPS NEW ENGLAND, INC. PROFIT SHARING/RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPS NEW ENGLAND, INC. 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