Retirement plan

STERMAN MASSER, INC. 401(K) PLAN

Name: STERMAN MASSER, INC. - STERMAN MASSER, INC. 401(K) PLAN (2020) Form 5500
Creator: STERMAN MASSER, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, STERMAN MASSER, INC. 401(K) PLAN, STERMAN MASSER, INC.

STERMAN MASSER, INC.EIN 23-1726207Plan #002PY 2020

2 FEARNOT ROAD, BOX 210 - SACRAMENTO, PA 17968570-682-3709stermanmasser.comLinkedIn201-500 employeesfood production

Prospect flagsHigh feesLow participationCorrective distributions

How to read this page

Total assets (EOY)

$7.9M

+40.2% from 2019

Total participants

325

+4.8% from 2019

Average account balance

$40,294

+26.0% from 2019

Annual return

27.82%

+6.87 pp from 2019

Benchmarks

See 275 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants250-999

Cohort275 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$13.36M

Not enough data

1 years with asset history on file

Average account balance

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

$50K

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.

269

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.

55.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.38M

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

+15.29%

Not enough data

1 years with return on file

Admin fee / account holder

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

$280

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
NATIONWIDE4 years Service code 15 · EIN 31-1592130 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$54,109
RKL LLP1 year Filed as: RKL, LLP Service code 10 PO BOX 8408 · LANCASTER, PA 17604	Accounting	$9,400
ASCENSUS LLC1 year Filed as: FUTUREPLAN BY ASCENSUS Service code 13 · EIN 82-3719843 95 CONNECTICUT DR · BURLINGTON, NJ 08016	Contract Administrator	$6,335
LEAFHOUSE FINANCIAL ADVISORS, LLC1 year Service code 51 · EIN 26-4311657 6504 BRIDGEPOINT PARKWAY · AUSTIN, TX 78730	Investment Mgmt Fees	$3,217
LPL FINANCIAL1 year Service code 52 4707 EXECUTIVE DR. · SAN DIEGO, CA 92121	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E3D2G2J2K2F2T3F3H

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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
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

3 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.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$73K

$239 / participant

Investment mgmt$4K4.8%
Contract admin$7K8.9%
Other / not subdivided$63K86.3%

% of EOY assets

0.920%

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: RKL LLP
Auditor EIN: 232108173
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$40,294

$58,101-30.6%

$118,914-66.1%

$73,412-45.1%

Participation rate

58.2%

56.1%+2.0pp

75.4%-17.2pp

72.2%-14.0pp

Annual return

27.82%

20.56%+7.3pp

35.89%-8.1pp

59.30%-31.5pp

Employer contribution / active EE

$978

$1,445-32.3%

$3,264-70.0%

$2,234-56.2%

Participant deferral / active EE

$2,041

$2,400-14.9%

$4,266-52.1%

$3,806-46.4%

Admin fee / account holder

$371

$138+168.4%

$6,582-94.4%

$158+134.8%

Provider

Service type

Compensation

NATIONWIDE4 years

Service code 15 · EIN 31-1592130

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$54,109

RKL LLP1 year

Filed as: RKL, LLP

Service code 10

PO BOX 8408 · LANCASTER, PA 17604

Accounting

$9,400

ASCENSUS LLC1 year

Filed as: FUTUREPLAN BY ASCENSUS

Service code 13 · EIN 82-3719843

95 CONNECTICUT DR · BURLINGTON, NJ 08016

Contract Administrator

$6,335

LEAFHOUSE FINANCIAL ADVISORS, LLC1 year

Service code 51 · EIN 26-4311657

6504 BRIDGEPOINT PARKWAY · AUSTIN, TX 78730

Investment Mgmt Fees

$3,217

LPL FINANCIAL1 year

Service code 52

4707 EXECUTIVE DR. · SAN DIEGO, CA 92121

Indirect Investment Fees

STERMAN MASSER, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

STERMAN MASSER, INC. 401(K) 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