Retirement plan

API GROUP, INC. 401(K) & PROFIT SHARING PLAN

Name: API GROUP, INC. - API GROUP, INC. 401(K) & PROFIT SHARING PLAN (2023) Form 5500
Creator: API GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, API GROUP, INC. 401(K) & PROFIT SHARING PLAN, API GROUP, INC.

API GROUP, INC.EIN 41-1858188Plan #001PY 2023

1100 OLD HIGHWAY 8 NW - NEW BRIGHTON, MN 55112651-604-2700apigroupinc.comLinkedIn10001+ employeesfacilities services

Other plans on this EIN

2 filings

#003Retirement-$123.7M assets #002Retirement-$12.9M assets

Prospect flagsFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed September 13, 2024 (most recent of 2 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

1100 Old Highway 8 NW

New Brighton, MN 55112

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Plans declared (1)

APi Group Corporation Non-Qualified Deferred Compensation Plan0 emp

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Total assets (EOY)

$566.5M

-8.1% from 2016

Total participants

7,311

-5.1% from 2016

Average account balance

$93,779

-2.1% from 2016

Annual return

27.34%

-5.31 pp from 2016

Benchmarks

See 48 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants5,000-9,999

Cohort48 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$675.71M

Not enough data

1 years with asset history on file

Average account balance

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

$105K

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.

6,431

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.

92.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$60.38M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+17.26%

Not enough data

1 years with return on file

Admin fee / account holder

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

$91

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 3 by compensation

Provider	Service type	Compensation
CHARLES SCHWAB & CO., INC.1 year Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$273,795
MERCER1 year Filed as: MERCER INVESTMENT MANAGEMENT Service code 28 · EIN 30-0282430	Investment Management	$225,133
CHARLES SCHWAB & CO., INC.1 year Service code 33 · EIN 94-1737782	Securities brokerage; Securities brok...	$9,011

Plan features & details

Pension benefit codes2E2F2H2J2K2S2T3D3H3I

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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)).
3I
Employer securities investment required
Plan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.

Opportunity flags

2 tripped

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

$499K

$89 / participant

Recordkeeping$274K54.9%
Investment mgmt$225K45.1%

% of EOY assets

0.088%

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: REDPATH AND COMPANY, LLC
Auditor EIN: 920370318
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$93,779

$84,149+11.4%

$130,070-27.9%

$103,657-9.5%

Participation rate

77.4%

81.0%-3.6pp

78.5%-1.1pp

73.4%+4.0pp

Annual return

27.34%

25.45%+1.9pp

-137.40%+164.7pp

33.13%-5.8pp

Employer contribution / active EE

$4,284

$2,687+59.5%

$4,322-0.9%

$3,216+33.2%

Participant deferral / active EE

$4,999

$5,201-3.9%

$5,821-14.1%

$5,218-4.2%

Admin fee / account holder

$83

$75+10.0%

$10,600-99.2%

$114-27.6%

Provider

Service type

Compensation

CHARLES SCHWAB & CO., INC.1 year

Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$273,795

MERCER1 year

Filed as: MERCER INVESTMENT MANAGEMENT

Service code 28 · EIN 30-0282430

Investment Management

$225,133

CHARLES SCHWAB & CO., INC.1 year

Service code 33 · EIN 94-1737782

Securities brokerage; Securities brok...

$9,011

API GROUP, INC. 401(K) & PROFIT SHARING PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

API GROUP, INC. 401(K) & PROFIT SHARING PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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