Retirement plan

EMPLOYEE BENEFIT PLAN OF SHANNON GLOBAL ENERGY SOLUTIONS, INC.

Name: SHANNON GLOBAL ENERGY SOLUTIONS, INC. - EMPLOYEE BENEFIT PLAN OF SHANNON GLOBAL ENERGY SOLUTIONS, INC. (2020) Form 5500
Creator: SHANNON GLOBAL ENERGY SOLUTIONS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EMPLOYEE BENEFIT PLAN OF SHANNON GLOBAL ENERGY SOLUTIONS, INC., SHANNON GLOBAL ENERGY SOLUTIONS, INC.

SHANNON GLOBAL ENERGY SOLUTIONS, INC.EIN 16-1325545Plan #001PY 2020

75 MAIN ST - NORTH TONAWANDA, NY 141205903716-693-7954shannonglobalenergy.comLinkedIn51-200 employeesutilities

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$2.8M

-5.7% from 2019

Total participants

-8.8% from 2019

Average account balance

$41,047

-1.5% from 2019

Annual return

9.87%

-9.95 pp from 2019

Benchmarks

See 5,720 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort5,720 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.13M

Not enough data

1 years with asset history on file

Average account balance

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

$43K

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.

141.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$371K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+16.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5600

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 codes2F2G2S2T3D

Plan features

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$737K

$13166 / participant

Other / not subdivided$737K100.0%

% of EOY assets

26.810%

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

$41,047

$81,208-49.5%

$98,920-58.5%

$79,852-48.6%

Participation rate

89.3%

72.5%+16.8pp

76.0%+13.3pp

69.6%+19.6pp

Annual return

9.87%

60.99%-51.1pp

196.47%-186.6pp

31.72%-21.8pp

Employer contribution / active EE

$1,361

$1,960-30.5%

$2,689-49.4%

$2,471-44.9%

Participant deferral / active EE

$3,638

$3,265+11.4%

$4,245-14.3%

$3,740-2.7%

Admin fee / account holder

$11,004

$6,013+83.0%

$6,643+65.7%

$5,306+107.4%

EMPLOYEE BENEFIT PLAN OF SHANNON GLOBAL ENERGY SOLUTIONS, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EMPLOYEE BENEFIT PLAN OF SHANNON GLOBAL ENERGY SOLUTIONS, INC.

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