Retirement plan

SCIOLEX CORPORATION 401(K) & PROFIT SHARING PLAN

Name: SCIOLEX CORPORATION - SCIOLEX CORPORATION 401(K) & PROFIT SHARING PLAN (2023) Form 5500
Creator: SCIOLEX CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SCIOLEX CORPORATION 401(K) & PROFIT SHARING PLAN, SCIOLEX CORPORATION

SCIOLEX CORPORATIONEIN 20-4225592Plan #002PY 2023

4511 SINGER COURT ST 200 - CHANTILLY, VA 20150703-559-7956sciolex.comLinkedIn501-1000 employeesdefense & space

Other plans on this EIN

1 filing

#001Retirement-$5.3M assets

Prospect flagsLow returnsHigh feesLow participationLow assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$4.6M

-26.6% from 2022

Total participants

639

-36.4% from 2022

Average account balance

$10,371

+18.1% from 2022

Annual return

9.43%

+30.90 pp from 2022

Benchmarks

See 820 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants250-999

Cohort820 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.53M

Not enough data

1 years with asset history on file

Average account balance

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

$14K

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.

249

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.

48.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$355K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+10.21%

Not enough data

1 years with return on file

Admin fee / account holder

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

$599

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 5 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INS. CO OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$141,446
BOON ADMINISTRATIVE SERVICES INC4+ years Service code 13 6300 BRIDGE POINT PKWY · AUSTIN, TX 78730	Contract Administrator	$32,435
LPL FINANCIAL4+ years Filed as: LPL FINANCIAL LLC Service code 55 PO BOX 509026 · SAN DIEGO, CA 921509026	Other Commissions	$25,377
KESTRA INVESTMENT SERVICES LLC4+ years Service code 27 5707 SOUTHWEST PKWY · AUSTIN, TX 78735	Advisory (Plan)	$9,960
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	$6,997

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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

5 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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$191K

$565 / participant

Recordkeeping$141K74.1%
Investment mgmt$17K8.9%
Contract admin$32K17.0%

% of EOY assets

4.144%

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: BEHRENS & BANKS, P.C.
Auditor EIN: 541556200
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$10,371

$40,435-74.4%

$80,627-87.1%

$74,460-86.1%

Participation rate

42.3%

47.4%-5.1pp

67.0%-24.7pp

70.7%-28.4pp

Annual return

9.43%

165.19%-155.8pp

936.76%-927.3pp

34.38%-24.9pp

Employer contribution / active EE

$804

$1,498-46.3%

$2,723-70.5%

$2,638-69.5%

Participant deferral / active EE

$1,172

$2,673-56.1%

$4,443-73.6%

$4,530-74.1%

Admin fee / account holder

$430

$721-40.4%

$5,381-92.0%

$348+23.6%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INS. CO OF AMERICA

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$141,446

BOON ADMINISTRATIVE SERVICES INC4+ years

Service code 13

6300 BRIDGE POINT PKWY · AUSTIN, TX 78730

Contract Administrator

$32,435

LPL FINANCIAL4+ years

Filed as: LPL FINANCIAL LLC

Service code 55

PO BOX 509026 · SAN DIEGO, CA 921509026

Other Commissions

$25,377

KESTRA INVESTMENT SERVICES LLC4+ years

Service code 27

5707 SOUTHWEST PKWY · AUSTIN, TX 78735

Advisory (Plan)

$9,960

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

$6,997

SCIOLEX CORPORATION 401(K) & PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SCIOLEX CORPORATION 401(K) & PROFIT SHARING 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