Retirement plan

SOUND COMMUNICATIONS, INC. 401(K) P/S PLAN

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

SOUND COMMUNICATIONS, INC.EIN 31-1331321Plan #001PY 2024

3474 PARK STREET - GROVE CITY, OH 43123614-875-8500soundcommunications.comLinkedIn11-50 employeesinformation technology and services

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$2.5M

+19.4% from 2023

Total participants

+14.8% from 2023

Average account balance

$119,581

+8.0% from 2023

Annual return

13.66%

-3.43 pp from 2023

Benchmarks

See 28,896 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,896 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.51M

Not enough data

1 years with asset history on file

Average account balance

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

$120K

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.

84.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$155K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+13.66%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1680

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 codes2E2F2G2J2T3D

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

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

$1411 / participant

Other / not subdivided$35K100.0%

% of EOY assets

1.405%

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

$119,581

$102,393+16.8%

$147,041-18.7%

$80,911+47.8%

Participation rate

60.0%

75.9%-15.9pp

82.2%-22.2pp

67.6%-7.6pp

Annual return

13.66%

134.95%-121.3pp

419.21%-405.5pp

35.63%-22.0pp

Employer contribution / active EE

$1,851

$3,715-50.2%

$4,935-62.5%

$2,756-32.8%

Participant deferral / active EE

$4,362

$6,647-34.4%

$8,071-46.0%

$4,297+1.5%

Admin fee / account holder

$1,680

$7,943-78.9%

$13,006-87.1%

$6,935-75.8%

SOUND COMMUNICATIONS, INC. 401(K) P/S PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOUND COMMUNICATIONS, INC. 401(K) P/S 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