Retirement plan

SEV1TECH, LLC 401(K) PLAN

Name: SEV1TECH, LLC - SEV1TECH, LLC 401(K) PLAN (2023) Form 5500
Creator: SEV1TECH, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SEV1TECH, LLC 401(K) PLAN, SEV1TECH, LLC

SEV1TECH, LLCEIN 27-2015706Plan #001PY 2023

12700 BLACK FOREST LANE, SUITE 306 - WOODBRIDGE, VA 22192703-496-3776sev1tech.comLinkedIn501-1000 employeesinformation technology and services

Prospect flagsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$102.4M

+18.6% from 2022

Total participants

1,474

+7.4% from 2022

Average account balance

$71,728

+10.7% from 2022

Annual return

19.34%

-15.18 pp from 2022

Benchmarks

See 3,232 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,232 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$115.19M

Not enough data

1 years with asset history on file

Average account balance

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

$80K

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.

1,446

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.

95.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$13.92M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+14.30%

Not enough data

1 years with return on file

Admin fee / account holder

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

$204

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 5 by compensation

Provider	Service type	Compensation
COMMONWEALTH FINANCIAL NETWORK4 years Service code 27 · EIN 04-2675571	Advisory (Plan)	$105,294
FIDELITY INVESTMENTS INSTITUTIONAL6 years Service code 37 · EIN 04-2647786	Loan Processing	$100,755
STRATEGIC ADVISORS, INC.3 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$22,298
APRIO LLP1 year Service code 10 · EIN 57-1157523	Accounting	$18,334
GLOBAL RETIREMENT PARTNERS LLC1 year Service code 27 · EIN 47-1411118	Advisory (Plan)	$9,569

Plan features & details

Pension benefit codes2T2E2F2G2J3D

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

2 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$256K

$261 / participant

Recordkeeping$101K39.3%
Investment mgmt$137K53.5%
Other / not subdivided$18K7.2%

% of EOY assets

0.250%

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: APRIO LLP
Auditor EIN: 571157523
Audit fees: $18,334
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$71,728

$95,417-24.8%

$135,974-47.2%

$74,460-3.7%

Participation rate

95.2%

78.2%+17.0pp

81.9%+13.3pp

70.7%+24.5pp

Annual return

19.34%

32.76%-13.4pp

68.30%-49.0pp

34.38%-15.0pp

Employer contribution / active EE

$3,572

$3,878-7.9%

$4,859-26.5%

$2,638+35.4%

Participant deferral / active EE

$9,596

$7,789+23.2%

$7,760+23.7%

$4,530+111.8%

Admin fee / account holder

$180

$266-32.5%

$10,767-98.3%

$348-48.4%

Provider

Service type

Compensation

COMMONWEALTH FINANCIAL NETWORK4 years

Service code 27 · EIN 04-2675571

Advisory (Plan)

$105,294

FIDELITY INVESTMENTS INSTITUTIONAL6 years

Service code 37 · EIN 04-2647786

Loan Processing

$100,755

STRATEGIC ADVISORS, INC.3 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$22,298

APRIO LLP1 year

Service code 10 · EIN 57-1157523

Accounting

$18,334

GLOBAL RETIREMENT PARTNERS LLC1 year

Service code 27 · EIN 47-1411118

Advisory (Plan)

$9,569

SEV1TECH, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SEV1TECH, LLC 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