Retirement plan

FAZIO MECHANICAL SERVICES, INC. PROFIT SHARING PLAN

Name: FAZIO MECHANICAL SERVICES, INC. - FAZIO MECHANICAL SERVICES, INC. PROFIT SHARING PLAN (2024) Form 5500
Creator: FAZIO MECHANICAL SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FAZIO MECHANICAL SERVICES, INC. PROFIT SHARING PLAN, FAZIO MECHANICAL SERVICES, INC.

FAZIO MECHANICAL SERVICES, INC.EIN 25-1581957Plan #001PY 2024

300 SOUTH MAIN STREET - PITTSBURGH, PA 15215412-782-6338faziomechanical.comLinkedIn201-500 employeesmechanical or industrial engineering

Prospect flagsHigh fees

Top hat statement on fileNQDC

Filed January 28, 2020

Plan administrator

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300 SOUTH MAIN STREET

PITTSBURGH, PA 15215

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Plans declared (1)

Supplemental Executive Retirement Plan4 emp

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Total assets (EOY)

$12.7M

+19.6% from 2023

Total participants

107

-6.1% from 2023

Average account balance

$118,415

+27.4% from 2023

Annual return

17.04%

-3.56 pp from 2023

Benchmarks

See 18,533 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,533 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.67M

Not enough data

1 years with asset history on file

Average account balance

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

$118K

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.

107

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$627K

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

+17.04%

Not enough data

1 years with return on file

Admin fee / account holder

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

$332

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.4 years Filed as: WELLS FARGO ADVISORS, LLC Service code 27 401 S TRYON STREET · CHARLOTTE, NC 28081	Advisory (Plan)	$27,394
METRO BENEFITS, INC.4 years Service code 13 8150 PERRY HIGHWAY · PITTSBURGH, PA 15237	Contract Administrator	$5,408
AMERICAN FUNDS4 years Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI Service code 64 6455 IRVINE CENTER DRIVE · IRVINE, CA 92618	Recordkeeping Fees	$2,762

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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

$36K

$395 / participant

Other / not subdivided$36K100.0%

% of EOY assets

0.281%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MCCALL SCANLON AND TICE, LLC
Auditor EIN: 262728289
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$118,415

$81,487+45.3%

$102,412+15.6%

$80,935+46.3%

Participation rate

100.0%

66.8%+33.2pp

74.5%+25.5pp

67.7%+32.3pp

Annual return

17.04%

25.60%-8.6pp

24.94%-7.9pp

35.66%-18.6pp

Employer contribution / active EE

$2,706

$3,103-12.8%

$3,870-30.1%

$2,757-1.9%

Participant deferral / active EE

$4,261

$3,871+10.1%

$5,060-15.8%

$4,299-0.9%

Admin fee / account holder

$332

$6,717-95.1%

$8,388-96.0%

$6,924-95.2%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.4 years

Filed as: WELLS FARGO ADVISORS, LLC

Service code 27

401 S TRYON STREET · CHARLOTTE, NC 28081

Advisory (Plan)

$27,394

METRO BENEFITS, INC.4 years

Service code 13

8150 PERRY HIGHWAY · PITTSBURGH, PA 15237

Contract Administrator

$5,408

AMERICAN FUNDS4 years

Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI

Service code 64

6455 IRVINE CENTER DRIVE · IRVINE, CA 92618

Recordkeeping Fees

$2,762

FAZIO MECHANICAL SERVICES, INC. PROFIT SHARING PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FAZIO MECHANICAL SERVICES, INC. PROFIT SHARING PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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