Retirement plan

SCHILLING PARADISE CORP. 401(K) PREVAILING WAGE PLAN

Name: SCHILLING PARADISE CORP. - SCHILLING PARADISE CORP. 401(K) PREVAILING WAGE PLAN (2024) Form 5500
Creator: SCHILLING PARADISE CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SCHILLING PARADISE CORP. 401(K) PREVAILING WAGE PLAN, SCHILLING PARADISE CORP.

SCHILLING PARADISE CORP.EIN 27-0601673Plan #002PY 2024

487 VERNON WAY - EL CAJON, CA 92020619-579-6500schillingcorp.comLinkedIn201-500 employeesconstruction

Prospect flagsHigh feesLow participationCorrective distributions

How to read this page

Total assets (EOY)

$8.2M

+24.3% from 2023

Total participants

356

+7.9% from 2023

Average account balance

$36,374

+15.4% from 2023

Annual return

11.49%

-1.53 pp from 2023

Benchmarks

See 1,565 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,565 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$8.18M

Not enough data

1 years with asset history on file

Average account balance

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

$36K

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.

225

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.

59.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.25M

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

+11.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$454

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 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY4 years Filed as: PRINCIPAL LIFE INSURANCE Service code 13 · EIN 42-0127290	Contract Administrator	$102,188
INDEPENDENT FINANCIAL GROUP LLC4 years Filed as: INDEPENDENT FINANCIAL GROUP, INC. Service code 49	Other Services	$24,379
INDEPENDENT FINANCIAL GROUP LLC4 years Filed as: INDEPENDENT FINANCIAL GROU, INC. Service code 49 · EIN 03-0491379	Other Services	$0
WILSHIRE ASSOCIATES INCORPORATED3 years Filed as: WILSHIRE ADVISORS, LLC Service code 27	Advisory (Plan)	$0
WILSHIRE ASSOCIATES INCORPORATED8 years Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2A2E2J2K2F2G3D3H2T

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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

$102K

$319 / participant

Contract admin$102K100.0%

% of EOY assets

1.249%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: LAVINE, LOFGREN, MORRIS, ENGELBERG
Auditor EIN: 330690020
Audit fees: $0
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$36,374

$82,917-56.1%

$103,333-64.8%

$77,643-53.2%

Participation rate

59.1%

71.6%-12.5pp

74.5%-15.4pp

70.6%-11.5pp

Annual return

11.49%

19.13%-7.6pp

24.88%-13.4pp

31.24%-19.7pp

Employer contribution / active EE

$1,904

$3,552-46.4%

$3,868-50.8%

$2,726-30.1%

Participant deferral / active EE

$2,013

$4,108-51.0%

$5,057-60.2%

$4,647-56.7%

Admin fee / account holder

$454

$638-28.8%

$8,355-94.6%

$430+5.5%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY4 years

Filed as: PRINCIPAL LIFE INSURANCE

Service code 13 · EIN 42-0127290

Contract Administrator

$102,188

INDEPENDENT FINANCIAL GROUP LLC4 years

Filed as: INDEPENDENT FINANCIAL GROUP, INC.

Service code 49

Other Services

$24,379

INDEPENDENT FINANCIAL GROUP LLC4 years

Filed as: INDEPENDENT FINANCIAL GROU, INC.

Service code 49 · EIN 03-0491379

Other Services

WILSHIRE ASSOCIATES INCORPORATED3 years

Filed as: WILSHIRE ADVISORS, LLC

Service code 27

Advisory (Plan)

WILSHIRE ASSOCIATES INCORPORATED8 years

Service code 27 · EIN 95-2755361

Advisory (Plan)

SCHILLING PARADISE CORP. 401(K) PREVAILING WAGE PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SCHILLING PARADISE CORP. 401(K) PREVAILING WAGE 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