Retirement plan

SOMMET, INC. 401(K) PLAN

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

SOMMET, INC.EIN 45-2718658Plan #002PY 2020

1550 S. MILLIKEN AVE STE H - ONTARIO, CA 91761909-781-5731

Other plans on this EIN

1 filing

#001Retirement-$1.3M assets

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$450K

+14.7% from 2019

Total participants

0.0% from 2019

Average account balance

$90,051

+14.7% from 2019

Annual return

-1.53%

-14.87 pp from 2019

Benchmarks

See 22,194 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort22,194 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$843K

Not enough data

1 years with asset history on file

Average account balance

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

$141K

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

$86K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+9.34%

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 codes2E2G2J3D

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.
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

2 tripped

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.

Expense breakdown

Schedule H Part II

Admin total

$2K

$326 / participant

Other / not subdivided$2K100.0%

% of EOY assets

0.362%

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

$90,051

$162,821-44.7%

$133,978-32.8%

$158,982-43.4%

Participation rate

100.0%

83.2%+16.8pp

79.8%+20.2pp

82.0%+18.0pp

Annual return

-1.53%

41.95%-43.5pp

45.10%-46.6pp

302.99%-304.5pp

Employer contribution / active EE

$2,641

$4,976-46.9%

$3,919-32.6%

$4,763-44.5%

Participant deferral / active EE

$10,400

$5,910+76.0%

$5,047+106.0%

$5,983+73.8%

Admin fee / account holder

$326

$11,742-97.2%

$8,930-96.3%

$11,252-97.1%

SOMMET, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOMMET, INC. 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