Retirement plan

SOMOS INC 401 K PROFIT SHARING PLAN TRUST

Name: SOMOS INC - SOMOS INC 401 K PROFIT SHARING PLAN TRUST (2016) Form 5500
Creator: SOMOS INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOMOS INC 401 K PROFIT SHARING PLAN TRUST, SOMOS INC

SOMOS INCEIN 20-5108831Plan #002PY 2016

PO BOX 8122 - BRIDGEWATER, NJ 08807401-234-9580somos.comLinkedIn51-200 employeestelecommunications

Prospect flagsHigh feesLow fidelity bond

Top hat statement on fileNQDC

Filed November 27, 2024

Plan administrator

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One Tower Center Blvd. Suite 800

East Brunswick, NJ 08816

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Plans declared (1)

SOMOS, INC. NON-QUALIFIED DEFERRED COMPENSATION PLAN1 emp

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Total assets (EOY)

$2.3M

+119.7% from 2015

Total participants

+45.9% from 2015

Average account balance

$42,559

+53.4% from 2015

Annual return

39.85%

+34.01 pp from 2015

Benchmarks

See 2,876 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants25-99

Cohort2,876 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$27.48M

Not enough data

1 years with asset history on file

Average account balance

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

$162K

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.

170

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.85M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$25K

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

+23.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

$249

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

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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 codes2E2F2G2J2T3D

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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$40K

$849 / participant

Other / not subdivided$40K100.0%

% of EOY assets

1.769%

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

$42,559

$56,287-24.4%

$80,977-47.4%

$62,881-32.3%

Participation rate

97.9%

68.9%+28.9pp

75.8%+22.1pp

69.3%+28.6pp

Annual return

39.85%

22.13%+17.7pp

17.11%+22.7pp

20.14%+19.7pp

Employer contribution / active EE

$8,400

$1,943+332.4%

$3,715+126.1%

$2,281+268.3%

Participant deferral / active EE

$9,884

$4,196+135.6%

$5,696+73.5%

$3,203+208.6%

Admin fee / account holder

$753

$3,742-79.9%

$5,517-86.4%

$4,296-82.5%

SOMOS INC 401 K PROFIT SHARING PLAN TRUST

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOMOS INC 401 K PROFIT SHARING PLAN TRUST

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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