Retirement plan

SLAB MASTERS RETIREMENT PLAN

Name: SLAB MASTERS, INC. - SLAB MASTERS RETIREMENT PLAN (2022) Form 5500
Creator: SLAB MASTERS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SLAB MASTERS RETIREMENT PLAN, SLAB MASTERS, INC.

SLAB MASTERS, INC.EIN 37-1303237Plan #001PY 2022

8251 BUNKUM RD - CASEYVILLE, IL 62232618-235-5595

Prospect flagsLow returnsHigh feesLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$9.7M

-13.2% from 2021

Total participants

355

+33.5% from 2021

Average account balance

$67,094

-19.3% from 2021

Annual return

-21.22%

-41.43 pp from 2021

Benchmarks

See 1,393 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,393 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.82M

Not enough data

1 years with asset history on file

Average account balance

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

$72K

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.

108

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.

34.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.08M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

-36.99%

Not enough data

1 years with return on file

Admin fee / account holder

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

$411

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 5 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.6 years Filed as: MASSACHUSETTS MUTUAL LIFE INS COMP Service code 62 · EIN 04-1590850 1295 STATE STREET · SPRINGFIELD, MA 01111	Float revenue; Recordkeeping fees	$46,159
RBC WEALTH MANAGEMENT3 years Filed as: RBC CAPITAL MARKETS LLC Service code 53 · EIN 41-1416330 60 S 6TH ST COMMISSIONS ACCTG · MINNEAPOLIS, MN 55402	Insurance Commissions	$21,236
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INS CO OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$8,208
ASCENSUS LLC2 years Filed as: FUTUREPLAN CONSULTING Service code 13 · EIN 11-3665754 PO BOX 55757 · BOSTON, MA 02205	Contract Administrator	$4,857
ASCENSUS LLC1 year Filed as: FUTUREPLAN BY ASCENSUS Service code 13 1102 CHESTNUT HILLS PRKY SUITE 100 · FORT WAYNE, IN 46814	Contract Administrator	$2,730

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.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$54K

$162 / participant

Investment mgmt$49K89.5%
Contract admin$6K10.5%

% of EOY assets

0.564%

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: SCHEFFEL BOYLE CPA
Auditor EIN: 371206530
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$67,094

$106,236-36.8%

$112,244-40.2%

$64,811+3.5%

Participation rate

37.2%

71.7%-34.5pp

75.1%-37.9pp

71.5%-34.3pp

Annual return

-21.22%

-6.02%-15.2pp

27.46%-48.7pp

32.83%-54.0pp

Employer contribution / active EE

$1,231

$3,166-61.1%

$3,635-66.1%

$2,506-50.9%

Participant deferral / active EE

$2,509

$3,785-33.7%

$4,728-46.9%

$4,310-41.8%

Admin fee / account holder

$378

$452-16.2%

$6,411-94.1%

$188+101.5%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.6 years

Filed as: MASSACHUSETTS MUTUAL LIFE INS COMP

Service code 62 · EIN 04-1590850

1295 STATE STREET · SPRINGFIELD, MA 01111

Float revenue; Recordkeeping fees

$46,159

RBC WEALTH MANAGEMENT3 years

Filed as: RBC CAPITAL MARKETS LLC

Service code 53 · EIN 41-1416330

60 S 6TH ST COMMISSIONS ACCTG · MINNEAPOLIS, MN 55402

Insurance Commissions

$21,236

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INS CO OF AMERICA

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$8,208

ASCENSUS LLC2 years

Filed as: FUTUREPLAN CONSULTING

Service code 13 · EIN 11-3665754

PO BOX 55757 · BOSTON, MA 02205

Contract Administrator

$4,857

ASCENSUS LLC1 year

Filed as: FUTUREPLAN BY ASCENSUS

Service code 13

1102 CHESTNUT HILLS PRKY SUITE 100 · FORT WAYNE, IN 46814

Contract Administrator

$2,730

SLAB MASTERS RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SLAB MASTERS 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