Retirement plan

SYSTEM FREIGHT INC. 401(K) PROFIT SHARING PLAN

Name: SYSTEM FREIGHT, INC. - SYSTEM FREIGHT INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: SYSTEM FREIGHT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SYSTEM FREIGHT INC. 401(K) PROFIT SHARING PLAN, SYSTEM FREIGHT, INC.

SYSTEM FREIGHT, INC.EIN 22-2063135Plan #001PY 2024

7 CENTRE DRIVE SUITE 5 - JAMESBURG, NJ 088311565609-395-8600systemfreight.netLinkedIn201-500 employees

Prospect flagsLow returnsLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$15.2M

+12.5% from 2023

Total participants

514

-6.9% from 2023

Average account balance

$31,060

+18.0% from 2023

Annual return

10.46%

-11.10 pp from 2023

Benchmarks

See 679 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants250-999

Cohort679 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.16M

Not enough data

1 years with asset history on file

Average account balance

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

$31K

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.

488

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.

94.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.49M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+10.46%

Not enough data

1 years with return on file

Admin fee / account holder

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

$205

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 2 by compensation

Provider	Service type	Compensation
USI CONSULTING GROUP6 years Service code 34 · EIN 06-1053228	Finders' fees / placement fees; Valua...	$71,852
USI CONSULTING GROUP2 years Filed as: USI ADVISORS Service code 27 · EIN 06-1397347	Advisory (Plan)	$28,071

Plan features & details

Pension benefit codes2E2G2J2F3D

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.
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

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$100K

$222 / participant

Recordkeeping$49K49.5%
Investment mgmt$51K50.5%

% of EOY assets

0.659%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: COHNREZNICK LLP
Auditor EIN: 334144829
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$31,060

$55,457-44.0%

$76,119-59.2%

$77,736-60.0%

Participation rate

94.2%

63.6%+30.6pp

69.1%+25.2pp

70.6%+23.7pp

Annual return

10.46%

17.09%-6.6pp

361.25%-350.8pp

31.26%-20.8pp

Employer contribution / active EE

$443

$1,792-75.3%

$2,693-83.5%

$2,728-83.7%

Participant deferral / active EE

$2,869

$3,454-16.9%

$4,259-32.6%

$4,651-38.3%

Admin fee / account holder

$205

$411-50.1%

$6,421-96.8%

$433-52.7%

Provider

Service type

Compensation

USI CONSULTING GROUP6 years

Service code 34 · EIN 06-1053228

Finders' fees / placement fees; Valua...

$71,852

USI CONSULTING GROUP2 years

Filed as: USI ADVISORS

Service code 27 · EIN 06-1397347

Advisory (Plan)

$28,071

SYSTEM FREIGHT INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SYSTEM FREIGHT INC. 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