Retirement plan

SOUND MIND INVESTING 401(K) PLAN

Name: SOUND MIND INVESTING, LLC - SOUND MIND INVESTING 401(K) PLAN (2020) Form 5500
Creator: SOUND MIND INVESTING, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOUND MIND INVESTING 401(K) PLAN, SOUND MIND INVESTING, LLC

SOUND MIND INVESTING, LLCEIN 31-1540799Plan #001PY 2020

9700 PARK PLAZA AVE., UNIT 202 - LOUISVILLE, KY 40241502-426-7420soundmindinvesting.comLinkedIn1-10 employeesfinancial services

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.9M

+20.8% from 2019

Total participants

0.0% from 2019

Average account balance

$127,240

+20.8% from 2019

Annual return

20.50%

+3.19 pp from 2019

Benchmarks

See 9,162 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants<25

Cohort9,162 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.32M

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.

183.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$94K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+11.73%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1369

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 codes2E2F2G2J2R3B3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$77K

$11055 / participant

Other / not subdivided$77K100.0%

% of EOY assets

4.054%

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

$127,240

$115,917+9.8%

$100,535+26.6%

$158,982-20.0%

Participation rate

100.0%

81.6%+18.4pp

79.4%+20.6pp

82.0%+18.0pp

Annual return

20.50%

34.80%-14.3pp

30.90%-10.4pp

302.99%-282.5pp

Employer contribution / active EE

$2,762

$4,105-32.7%

$3,419-19.2%

$4,763-42.0%

Participant deferral / active EE

$8,979

$6,677+34.5%

$6,271+43.2%

$5,983+50.1%

Admin fee / account holder

$5,159

$11,002-53.1%

$8,085-36.2%

$11,252-54.2%

SOUND MIND INVESTING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOUND MIND INVESTING 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