Retirement plan

SECTEK SAVINGS AND RETIREMENT PLAN

Name: SECTEK, INC. - SECTEK SAVINGS AND RETIREMENT PLAN (2020) Form 5500
Creator: SECTEK, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SECTEK SAVINGS AND RETIREMENT PLAN, SECTEK, INC.

SECTEK, INC.EIN 34-1726791Plan #002PY 2020

1650 TYSONS BLVD. SUITE 925 - TYSONS, VA 22102571-234-4688sectek.comLinkedIn1001-5000 employeessecurity and investigations

Other plans on this EIN

2 filings

#003Retirement-$859K assets #004Retirement--

Prospect flagsHigh feesLow participationLow participant contributionRecently reached 100 employeesFailed to transmit contributions

How to read this page

Total assets (EOY)

$5.7M

+51.1% from 2019

Total participants

506

-26.9% from 2019

Average account balance

$28,379

-31.2% from 2019

Annual return

110.27%

+90.84 pp from 2019

Benchmarks

See 695 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants250-999

Cohort695 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.67M

Not enough data

1 years with asset history on file

Average account balance

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

$27K

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.

176

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.

15.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$302K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$465

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

+9.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$236

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

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
SAGGAR & ROSENBERG, P.C.1 year Filed as: SAGGAR AND ROSENBERG Service code 10 · EIN 52-2190100	Accounting	$41,000
PRINCIPAL LIFE INSURANCE COMPANY1 year Service code 13 · EIN 42-0127290	Contract Administrator	$37,252
SC&H ATTEST SERVICES, P.C.1 year Filed as: SC& H ATTEST SERVICES Service code 10 · EIN 52-1743645	Accounting	$13,867
NFP RETIREMENT INC1 year Filed as: NFP CORPORATE (PA) SERVICES, INC. Service code 49	Other Services	$9,719
KESTRA INVESTMENT SERVICES LLC1 year Filed as: KESTRA ADVISORY SERVICES, LLC Service code 27 · EIN 35-2552359	Advisory (Plan)	$5,504
NFP RETIREMENT INC1 year Filed as: NFP CORPORATE (PA)SERVICES, INC Service code 49 · EIN 13-4096969	Other Services	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$93K

$213 / participant

Contract admin$93K100.0%

% of EOY assets

1.624%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: SC&H ATTEST SERVICES, P.C.
Auditor EIN: 521743645
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$28,379

$39,948-29.0%

$89,435-68.3%

$73,412-61.3%

Participation rate

30.4%

50.4%-20.0pp

68.0%-37.5pp

72.2%-41.7pp

Annual return

110.27%

50.12%+60.2pp

245.55%-135.3pp

59.30%+51.0pp

Employer contribution / active EE

$1,206

$1,200+0.5%

$2,587-53.4%

$2,234-46.0%

Participant deferral / active EE

$159

$2,193-92.7%

$3,890-95.9%

$3,806-95.8%

Admin fee / account holder

$461

$134+243.3%

$4,884-90.6%

$158+191.8%

Provider

Service type

Compensation

SAGGAR & ROSENBERG, P.C.1 year

Filed as: SAGGAR AND ROSENBERG

Service code 10 · EIN 52-2190100

Accounting

$41,000

PRINCIPAL LIFE INSURANCE COMPANY1 year

Service code 13 · EIN 42-0127290

Contract Administrator

$37,252

SC&H ATTEST SERVICES, P.C.1 year

Filed as: SC& H ATTEST SERVICES

Service code 10 · EIN 52-1743645

Accounting

$13,867

NFP RETIREMENT INC1 year

Filed as: NFP CORPORATE (PA) SERVICES, INC.

Service code 49

Other Services

$9,719

KESTRA INVESTMENT SERVICES LLC1 year

Filed as: KESTRA ADVISORY SERVICES, LLC

Service code 27 · EIN 35-2552359

Advisory (Plan)

$5,504

NFP RETIREMENT INC1 year

Filed as: NFP CORPORATE (PA)SERVICES, INC

Service code 49 · EIN 13-4096969

Other Services

SECTEK SAVINGS AND RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SECTEK SAVINGS AND RETIREMENT 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