Retirement plan

SOURCE GROUP 401(K) PLAN

Name: SOURCE ENERGY SERVICES US LP - SOURCE GROUP 401(K) PLAN (2024) Form 5500
Creator: SOURCE ENERGY SERVICES US LP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOURCE GROUP 401(K) PLAN, SOURCE ENERGY SERVICES US LP

SOURCE ENERGY SERVICES US LPEIN 35-2487607Plan #001PY 2024

3430 OAKWOOD MALL DRIVE, STE. 300 - EAU CLAIRE, WI 54701715-514-3884

Prospect flagsLow assets / participant

How to read this page

Total assets (EOY)

$7.5M

+28.8% from 2023

Total participants

311

+5.1% from 2023

Average account balance

$24,824

+15.7% from 2023

Annual return

14.96%

-5.06 pp from 2023

Benchmarks

See 269 peers

Peer group

Industry21 - Mining, Quarrying, and Oil and Gas Extraction

Plan typeDefined contribution

Participants100-249

Cohort269 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.55M

Not enough data

1 years with asset history on file

Average account balance

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

$25K

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.

304

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.

96.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.30M

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

+14.96%

Not enough data

1 years with return on file

Admin fee / account holder

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

$276

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

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
GALLAGHER FIDUCIARY ADVISORS, LLC3 years Filed as: GALLAGHER BENEFIT SERVICES Service code 27 · EIN 04-1590850	Advisory (Plan)	$23,704
THE RETIREMENT ADVANTAGE INC3 years Filed as: THE RETIREMENT ADVANTAGE, INC. Service code 13 · EIN 39-1816008	Contract Administrator	$10,590
THE RETIREMENT ADVANTAGE INC2 years Service code 13	Contract Administrator	$3,102
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INS CO OF AMERICA Service code 64 · EIN 84-0467907	Recordkeeping Fees	$2,062

Plan features & details

Pension benefit codes2E2F2G2J2K3B3D3H

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.
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.
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

1 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$84K

$456 / participant

Recordkeeping$60K71.8%
Contract admin$24K28.2%

% of EOY assets

1.113%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BGM CPA LLC
Auditor EIN: 200472826
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$24,824

$79,700-68.9%

$153,500-83.8%

$74,429-66.6%

Participation rate

96.2%

69.8%+26.4pp

77.1%+19.1pp

67.2%+29.0pp

Annual return

14.96%

15.07%-0.1pp

15.70%-0.7pp

1368.38%-1353.4pp

Employer contribution / active EE

$2,761

$4,016-31.3%

$5,039-45.2%

$2,625+5.2%

Participant deferral / active EE

$4,300

$5,315-19.1%

$6,756-36.4%

$4,348-1.1%

Admin fee / account holder

$276

$1,790-84.6%

$12,736-97.8%

$1,944-85.8%

Provider

Service type

Compensation

GALLAGHER FIDUCIARY ADVISORS, LLC3 years

Filed as: GALLAGHER BENEFIT SERVICES

Service code 27 · EIN 04-1590850

Advisory (Plan)

$23,704

THE RETIREMENT ADVANTAGE INC3 years

Filed as: THE RETIREMENT ADVANTAGE, INC.

Service code 13 · EIN 39-1816008

Contract Administrator

$10,590

THE RETIREMENT ADVANTAGE INC2 years

Service code 13

Contract Administrator

$3,102

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INS CO OF AMERICA

Service code 64 · EIN 84-0467907

Recordkeeping Fees

$2,062

SOURCE GROUP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOURCE GROUP 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