Retirement plan

FALCON DRILLING CO LLC 401(K) PROFIT SHARING PLAN AND TRUST

Name: FALCON DRILLING CO LLC - FALCON DRILLING CO LLC 401(K) PROFIT SHARING PLAN AND TRUST (2024) Form 5500
Creator: FALCON DRILLING CO LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FALCON DRILLING CO LLC 401(K) PROFIT SHARING PLAN AND TRUST, FALCON DRILLING CO LLC

FALCON DRILLING CO LLCEIN 25-1885639Plan #001PY 2024

102 BROADWAY STREET, SUITE 300 - CARNEGIE, PA 151062486412-505-8135falcondrilling.comLinkedIn201-500 employeesoil & energy

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$4M

+24.6% from 2023

Total participants

152

-8.4% from 2023

Average account balance

$38,124

+34.2% from 2023

Annual return

13.06%

-5.62 pp from 2023

Benchmarks

See 269 peers

Peer group

Industry21 - Mining, Quarrying, and Oil and Gas Extraction

Plan typeDefined contribution

Participants100-249

Cohort269 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.96M

Not enough data

1 years with asset history on file

Average account balance

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

$38K

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.

104

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.

61.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$522K

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

+13.06%

Not enough data

1 years with return on file

Admin fee / account holder

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

$334

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
SCHNEIDER DOWNS & CO., INC.7 years Filed as: SCHNEIDER DOWNS WEALTH MGMT ADV. Service code 26 · EIN 25-1857157 ONE PPG PLACE, SUITE 1700 · PITTSBURGH, PA 152225416	Advisory (Participants)	$17,662
SCHNEIDER DOWNS RET. SOLUTIONS5 years Service code 15 · EIN 47-3764076 ONE PPG PLACE, SUITE 1700 · PITTSBURGH, PA 152225416	Recordkeeping	$14,792
CHARLES SCHWAB & CO., INC.1 year Filed as: CHARLES SCHWAB TRUST COMPANY Service code 19 · EIN 42-1558009 215 FREMONT STREET, 6TH FLOOR · SAN FRANCISO, CA 94105	Securities Custodian	$2,448

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

2 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.)

Expense breakdown

Schedule H Part II

Admin total

$35K

$281 / participant

Recordkeeping$10K29.5%
Trustee / custodial$2K7.0%
Investment mgmt$18K50.8%
Other / not subdivided$4K12.7%

% of EOY assets

0.877%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: R.D. HOAG & ASSOCIATES, LLC
Auditor EIN: 823685723
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$38,124

$79,700-52.2%

$153,500-75.2%

$74,429-48.8%

Participation rate

61.3%

69.8%-8.5pp

77.1%-15.8pp

67.2%-5.9pp

Annual return

13.06%

15.07%-2.0pp

15.70%-2.6pp

1368.38%-1355.3pp

Employer contribution / active EE

$1,800

$4,016-55.2%

$5,039-64.3%

$2,625-31.4%

Participant deferral / active EE

$2,409

$5,315-54.7%

$6,756-64.3%

$4,348-44.6%

Admin fee / account holder

$334

$1,790-81.3%

$12,736-97.4%

$1,944-82.8%

Provider

Service type

Compensation

SCHNEIDER DOWNS & CO., INC.7 years

Filed as: SCHNEIDER DOWNS WEALTH MGMT ADV.

Service code 26 · EIN 25-1857157

ONE PPG PLACE, SUITE 1700 · PITTSBURGH, PA 152225416

Advisory (Participants)

$17,662

SCHNEIDER DOWNS RET. SOLUTIONS5 years

Service code 15 · EIN 47-3764076

ONE PPG PLACE, SUITE 1700 · PITTSBURGH, PA 152225416

Recordkeeping

$14,792

CHARLES SCHWAB & CO., INC.1 year

Filed as: CHARLES SCHWAB TRUST COMPANY

Service code 19 · EIN 42-1558009

215 FREMONT STREET, 6TH FLOOR · SAN FRANCISO, CA 94105

Securities Custodian

$2,448

FALCON DRILLING CO LLC 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FALCON DRILLING CO LLC 401(K) PROFIT SHARING PLAN AND TRUST

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