Retirement plan

SERVICE OIL, INC. 401(K) PROFIT SHARING PLAN

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

SERVICE OIL, INC.EIN 45-0345592Plan #005PY 2023

PO BOX 655 - WEST FARGO, ND 580780655701-277-1050stamart.comLinkedIn51-200 employees

Prospect flagsHigh retiree %High feesLow fidelity bond

How to read this page

Total assets (EOY)

$980K

+15.7% from 2022

Total participants

-15.0% from 2022

Average account balance

$57,639

-52.4% from 2022

Annual return

16.86%

+26.56 pp from 2022

Benchmarks

See 22,148 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort22,148 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.10M

Not enough data

1 years with asset history on file

Average account balance

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

$79K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$29K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+13.65%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3012

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 codes2E2G2J

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.

Opportunity flags

3 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).
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$40K

$6721 / participant

Other / not subdivided$40K100.0%

% of EOY assets

4.115%

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

$57,639

$102,696-43.9%

$86,235-33.2%

$139,487-58.7%

Participation rate

100.0%

74.5%+25.5pp

69.0%+31.0pp

80.3%+19.7pp

Annual return

16.86%

1925.91%-1909.0pp

1170.03%-1153.2pp

373.84%-357.0pp

Employer contribution / active EE

$1,450

$3,034-52.2%

$2,381-39.1%

$4,755-69.5%

Participant deferral / active EE

$3,096

$4,679-33.8%

$3,987-22.4%

$6,713-53.9%

Admin fee / account holder

$2,372

$8,667-72.6%

$6,856-65.4%

$11,407-79.2%

SERVICE OIL, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SERVICE OIL, INC. 401(K) PROFIT SHARING 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