Retirement plan

STATE OF THE ART, INC. MONEY PURCHASE PENSION PLAN

Name: STATE OF THE ART, INC. - STATE OF THE ART, INC. MONEY PURCHASE PENSION PLAN (2024) Form 5500
Creator: STATE OF THE ART, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, STATE OF THE ART, INC. MONEY PURCHASE PENSION PLAN, STATE OF THE ART, INC.

STATE OF THE ART, INC.EIN 25-1202653Plan #001PY 2024

2470 FOX HILL ROAD - STATE COLLEGE, PA 168031797814-355-8004LinkedIn1-10 employeescomputer software

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$24.2M

-0.1% from 2023

Total participants

135

+6.3% from 2023

Average account balance

$185,969

-3.9% from 2023

Annual return

13.01%

-5.18 pp from 2023

Benchmarks

See 4,101 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort4,101 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$24.18M

Not enough data

1 years with asset history on file

Average account balance

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

$186K

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.

130

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.

95.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$729K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+13.01%

Not enough data

1 years with return on file

Admin fee / account holder

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

$477

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 3 by compensation

Provider	Service type	Compensation
NEWPORT GROUP, INC.6 years Service code 13 · EIN 27-2037969	Contract Administrator	$35,904
PNC BANK, N.A.3 years Filed as: PNC INSTITUTIONAL ASSET MANAGEMENT Service code 27 · EIN 22-1146430	Advisory (Plan)	$18,988
NEWPORT GROUP, INC.2 years Filed as: NEWPORT TRUST COMPANY Service code 21 · EIN 27-4411131	Bank Trustee	$7,151

Plan features & details

Pension benefit codes2C2F2G2T3D

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit 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.
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

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

$62K

$554 / participant

Recordkeeping$1500.2%
Trustee / custodial$7K11.5%
Investment mgmt$19K30.6%
Contract admin$36K57.6%

% of EOY assets

0.257%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAKER TILLY US, LLP
Auditor EIN: 301413443
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$185,969

$79,209+134.8%

$102,434+81.6%

$74,459+149.8%

Participation rate

95.5%

74.8%+20.8pp

76.5%+19.0pp

67.2%+28.3pp

Annual return

13.01%

54.98%-42.0pp

29.46%-16.4pp

1369.70%-1356.7pp

Employer contribution / active EE

$6,506

$2,362+175.4%

$3,023+115.2%

$2,626+147.8%

Participant deferral / active EE

$4,417-100.0%

$5,055-100.0%

$4,350-100.0%

Admin fee / account holder

$477

$2,002-76.2%

$9,462-95.0%

$1,945-75.5%

Provider

Service type

Compensation

NEWPORT GROUP, INC.6 years

Service code 13 · EIN 27-2037969

Contract Administrator

$35,904

PNC BANK, N.A.3 years

Filed as: PNC INSTITUTIONAL ASSET MANAGEMENT

Service code 27 · EIN 22-1146430

Advisory (Plan)

$18,988

NEWPORT GROUP, INC.2 years

Filed as: NEWPORT TRUST COMPANY

Service code 21 · EIN 27-4411131

Bank Trustee

$7,151

STATE OF THE ART, INC. MONEY PURCHASE PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

STATE OF THE ART, INC. MONEY PURCHASE PENSION 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