Retirement plan

SCHMIT BROTHERS CONSTRUCTION, INC. SAFE HARBOR 401(K) PLAN

Name: SCHMIT BROTHERS CONSTRUCTION, INC. - SCHMIT BROTHERS CONSTRUCTION, INC. SAFE HARBOR 401(K) PLAN (2020) Form 5500
Creator: SCHMIT BROTHERS CONSTRUCTION, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SCHMIT BROTHERS CONSTRUCTION, INC. SAFE HARBOR 401(K) PLAN, SCHMIT BROTHERS CONSTRUCTION, INC.

SCHMIT BROTHERS CONSTRUCTION, INC.EIN 45-0419486Plan #001PY 2020

2838 LILAC LANE NE - FARGO, ND 58102701-232-6887LinkedIn11-50 employeesconstruction

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$3.4M

+8.6% from 2019

Total participants

-8.3% from 2019

Average account balance

$310,606

+18.4% from 2019

Annual return

13.02%

-5.77 pp from 2019

Benchmarks

See 42,037 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort42,037 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+1.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2E2F2G2J2T3D3F

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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$193K

$24080 / participant

Other / not subdivided$193K100.0%

% of EOY assets

5.638%

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

$310,606

$115,810+168.2%

$101,271+206.7%

$158,966+95.4%

Participation rate

100.0%

79.4%+20.6pp

75.8%+24.2pp

82.0%+18.0pp

Annual return

13.02%

56.15%-43.1pp

46.48%-33.5pp

302.95%-289.9pp

Employer contribution / active EE

$2,337

$4,175-44.0%

$3,660-36.2%

$4,762-50.9%

Participant deferral / active EE

$2,670

$4,958-46.2%

$4,371-38.9%

$5,983-55.4%

Admin fee / account holder

$17,513

$7,248+141.6%

$5,948+194.5%

$11,250+55.7%

SCHMIT BROTHERS CONSTRUCTION, INC. SAFE HARBOR 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SCHMIT BROTHERS CONSTRUCTION, INC. SAFE HARBOR 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