Retirement plan

SCHMID & ASSOCIATES, INC. 401(K) PLAN

Name: SCHMID & ASSOCIATES, INC. DBA AC ELECTRICAL SYSTEMS - SCHMID & ASSOCIATES, INC. 401(K) PLAN (2020) Form 5500
Creator: SCHMID & ASSOCIATES, INC. DBA AC ELECTRICAL SYSTEMS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SCHMID & ASSOCIATES, INC. 401(K) PLAN, SCHMID & ASSOCIATES, INC. DBA AC ELECTRICAL SYSTEMS

SCHMID & ASSOCIATES, INC. DBA AC ELECTRICAL SYSTEMSEIN 31-1652564Plan #001PY 2020

9866 HARRISON AVE. - HARRISON, OH 45030513-202-9269

Prospect flagsLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$2M

+25.6% from 2019

Total participants

-6.4% from 2019

Average account balance

$83,031

+57.0% from 2019

Annual return

17.98%

-6.69 pp from 2019

Benchmarks

See 16,252 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort16,252 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.07M

Not enough data

1 years with asset history on file

Average account balance

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

$107K

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.

77.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$226K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+22.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$555

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 codes2E2F2G2J2T3D3H

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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$7K

$184 / participant

Other / not subdivided$7K100.0%

% of EOY assets

0.332%

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

$83,031

$72,272+14.9%

$101,264-18.0%

$79,858+4.0%

Participation rate

44.4%

68.5%-24.0pp

75.8%-31.4pp

69.6%-25.2pp

Annual return

17.98%

22.30%-4.3pp

46.48%-28.5pp

31.72%-13.7pp

Employer contribution / active EE

$879

$2,692-67.3%

$3,660-76.0%

$2,471-64.4%

Participant deferral / active EE

$2,512

$3,282-23.5%

$4,370-42.5%

$3,740-32.8%

Admin fee / account holder

$276

$4,401-93.7%

$5,947-95.4%

$5,306-94.8%

SCHMID & ASSOCIATES, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SCHMID & ASSOCIATES, INC. 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