Retirement plan

SOUTHBAY ROOFING, LLC 401(K) PLAN

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

SOUTHBAY ROOFING, LLCEIN 27-4096929Plan #001PY 2023

PO BOX 3693 - WILMINGTON, NC 28406910-681-0961southbayroofingllc.comLinkedIn11-50 employeesconstruction

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$655K

+32.0% from 2022

Total participants

+6.7% from 2022

Average account balance

$40,909

+23.8% from 2022

Annual return

14.45%

+33.14 pp from 2022

Benchmarks

See 51,572 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort51,572 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$826K

Not enough data

1 years with asset history on file

Average account balance

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

$52K

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.

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.

145.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$113K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+10.21%

Not enough data

1 years with return on file

Admin fee / account holder

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

$592

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2G2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

$8K

$760 / participant

Other / not subdivided$8K100.0%

% of EOY assets

1.161%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$40,909

$106,247-61.5%

$96,515-57.6%

$139,466-70.7%

Participation rate

100.0%

77.8%+22.2pp

74.3%+25.7pp

80.3%+19.7pp

Annual return

14.45%

38.47%-24.0pp

35.73%-21.3pp

373.66%-359.2pp

Employer contribution / active EE

$1,962

$4,106-52.2%

$3,740-47.5%

$4,754-58.7%

Participant deferral / active EE

$7,497

$5,456+37.4%

$4,880+53.6%

$6,712+11.7%

Admin fee / account holder

$475

$7,885-94.0%

$6,735-92.9%

$11,409-95.8%

SOUTHBAY ROOFING, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOUTHBAY ROOFING, 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