Retirement plan

SHERWOOD ELECTRIC CO., INC. 401(K) PLAN

Name: SHERWOOD ELECTRIC CO., INC. - SHERWOOD ELECTRIC CO., INC. 401(K) PLAN (2023) Form 5500
Creator: SHERWOOD ELECTRIC CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHERWOOD ELECTRIC CO., INC. 401(K) PLAN, SHERWOOD ELECTRIC CO., INC.

SHERWOOD ELECTRIC CO., INC.EIN 22-2046995Plan #001PY 2023

PO BOX 1005 - POMONA, NJ 08240609-241-1950

Prospect flagsLow returnsLow assets / participant

How to read this page

Total assets (EOY)

$37K

+9.6% from 2022

Total participants

0.0% from 2022

Average account balance

$2,466

+9.6% from 2022

Annual return

9.62%

+24.02 pp from 2022

Benchmarks

See 41,854 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort41,854 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$39K

Not enough data

1 years with asset history on file

Average account balance

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

$3K

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.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+9.21%

Not enough data

1 years with return on file

Admin fee / account holder

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

$72

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 codes2E2F2J2T3D

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).
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

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.

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

$2,466

$96,643-97.4%

$86,617-97.2%

$139,456-98.2%

Participation rate

0.0%

74.4%-74.4pp

71.7%-71.7pp

80.3%-80.3pp

Annual return

9.62%

106.57%-97.0pp

591.91%-582.3pp

373.45%-363.8pp

Employer contribution / active EE

$3,264-100.0%

$3,023-100.0%

$4,753-100.0%

Participant deferral / active EE

$4,835-100.0%

$4,437-100.0%

$6,711-100.0%

Admin fee / account holder

$6,406-100.0%

$5,613-100.0%

$11,407-100.0%

SHERWOOD ELECTRIC CO., INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

SHERWOOD ELECTRIC CO., INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion