Retirement plan

SUMMIT SCAFFOLD SERVICES LLC 401K PLAN

Name: SUMMIT SCAFFOLD SERVICES LLC - SUMMIT SCAFFOLD SERVICES LLC 401K PLAN (2023) Form 5500
Creator: SUMMIT SCAFFOLD SERVICES LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SUMMIT SCAFFOLD SERVICES LLC 401K PLAN, SUMMIT SCAFFOLD SERVICES LLC

SUMMIT SCAFFOLD SERVICES LLCEIN 20-5145218Plan #001PY 2023

21 OAKLAWN DRIVE - BARKHAMSTED, CT 06063860-637-4081

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$360K

+35.1% from 2022

Total participants

0.0% from 2022

Average account balance

$51,462

+54.4% from 2022

Annual return

20.02%

+36.67 pp from 2022

Benchmarks

See 51,594 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort51,594 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$426K

Not enough data

1 years with asset history on file

Average account balance

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

$47K

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.

112.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$38K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+16.29%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3985

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 codes2C2E2G2J

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit plan.
2E
Profit-sharing
Profit-sharing plan.
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.

Opportunity flags

1 tripped

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

$4K

$461 / participant

Other / not subdivided$4K100.0%

% of EOY assets

1.024%

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

$51,462

$106,267-51.6%

$96,520-46.7%

$139,456-63.1%

Participation rate

87.5%

77.8%+9.7pp

74.3%+13.2pp

80.3%+7.2pp

Annual return

20.02%

38.45%-18.4pp

35.72%-15.7pp

373.45%-353.4pp

Employer contribution / active EE

$1,660

$4,105-59.6%

$3,739-55.6%

$4,753-65.1%

Participant deferral / active EE

$3,375

$5,454-38.1%

$4,879-30.8%

$6,711-49.7%

Admin fee / account holder

$527

$7,882-93.3%

$6,733-92.2%

$11,407-95.4%

SUMMIT SCAFFOLD SERVICES LLC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SUMMIT SCAFFOLD SERVICES LLC 401K 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