Retirement plan

SOFTWARE SPECIALISTS, INC. 401(K) PLAN

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

SOFTWARE SPECIALISTS, INC.EIN 25-1643937Plan #001PY 2024

401 SMITH DRIVE, SUITE 200 - CRANBERRY TOWNSHIP, PA 16066724-933-6100

Prospect flagsLow participationLow employer contributionLow participant contribution

How to read this page

Total assets (EOY)

$8.8M

+6.9% from 2023

Total participants

395

-6.4% from 2023

Average account balance

$54,809

+17.6% from 2023

Annual return

17.31%

-1.07 pp from 2023

Benchmarks

See 3,298 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,298 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.82M

Not enough data

1 years with asset history on file

Average account balance

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

$55K

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.

161

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.

22.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.07M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+17.31%

Not enough data

1 years with return on file

Admin fee / account holder

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

$269

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
NORTHWEST BANK10+ years Filed as: NORTHWEST SAVINGS BANK Service code 21 · EIN 26-3901659	Bank Trustee	$26,607
DEFINITI LLC4 years Filed as: DEFINITI Service code 64 · EIN 85-0833363	Recordkeeping Fees	$16,741

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$43K

$144 / participant

Recordkeeping$17K38.6%
Trustee / custodial$27K61.4%

% of EOY assets

0.491%

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: HERBEIN + COMPANY, INC.
Auditor EIN: 232415973
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$54,809

$106,230-48.4%

$147,080-62.7%

$77,736-29.5%

Participation rate

22.0%

78.4%-56.4pp

82.2%-60.2pp

70.6%-48.6pp

Annual return

17.31%

56.91%-39.6pp

420.17%-402.9pp

31.26%-13.9pp

Employer contribution / active EE

$428

$4,072-89.5%

$4,933-91.3%

$2,728-84.3%

Participant deferral / active EE

$3,133

$8,001-60.8%

$8,066-61.2%

$4,651-32.6%

Admin fee / account holder

$269

$338-20.4%

$12,989-97.9%

$433-37.9%

Provider

Service type

Compensation

NORTHWEST BANK10+ years

Filed as: NORTHWEST SAVINGS BANK

Service code 21 · EIN 26-3901659

Bank Trustee

$26,607

DEFINITI LLC4 years

Filed as: DEFINITI

Service code 64 · EIN 85-0833363

Recordkeeping Fees

$16,741

SOFTWARE SPECIALISTS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOFTWARE SPECIALISTS, 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