Retirement plan

SCHAR HEATING & COOLING, INC 401K PLAN

Name: SCHAR HEATING & COOLING, INC - SCHAR HEATING & COOLING, INC 401K PLAN (2024) Form 5500
Creator: SCHAR HEATING & COOLING, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SCHAR HEATING & COOLING, INC 401K PLAN, SCHAR HEATING & COOLING, INC

SCHAR HEATING & COOLING, INCEIN 34-1926120Plan #001PY 2024

44 STERLING AVE - RITTMAN, OH 44270330-927-1125scharheating.comLinkedIn11-50 employeesconsumer services

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$2.3M

+22.7% from 2023

Total participants

+7.9% from 2023

Average account balance

$64,957

+12.2% from 2023

Annual return

11.56%

-6.67 pp from 2023

Benchmarks

See 18,533 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,533 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.27M

Not enough data

1 years with asset history on file

Average account balance

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

$65K

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.

120.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$207K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+11.56%

Not enough data

1 years with return on file

Admin fee / account holder

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

$487

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

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

$17K

$587 / participant

Other / not subdivided$17K100.0%

% of EOY assets

0.749%

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

$64,957

$81,487-20.3%

$102,412-36.6%

$80,935-19.7%

Participation rate

79.3%

66.8%+12.5pp

74.5%+4.8pp

67.7%+11.6pp

Annual return

11.56%

25.60%-14.0pp

24.94%-13.4pp

35.66%-24.1pp

Employer contribution / active EE

$2,352

$3,103-24.2%

$3,870-39.2%

$2,757-14.7%

Participant deferral / active EE

$4,780

$3,871+23.5%

$5,060-5.5%

$4,299+11.2%

Admin fee / account holder

$487

$6,717-92.8%

$8,388-94.2%

$6,924-93.0%

SCHAR HEATING & COOLING, INC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SCHAR HEATING & COOLING, INC 401K 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