Retirement plan

SCHOLFIELD 401(K) RETIREMENT PLAN

Name: SCHOLFIELD, INC. - SCHOLFIELD 401(K) RETIREMENT PLAN (2022) Form 5500
Creator: SCHOLFIELD, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SCHOLFIELD 401(K) RETIREMENT PLAN, SCHOLFIELD, INC.

SCHOLFIELD, INC.dba SCHOLFIELD HONDAEIN 48-0992934Plan #001PY 2022

7017 E KELLOGG DRIVE - WICHITA, KS 67207316-652-1128

Prospect flagsLow returnsHigh feesFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$8.1M

No prior year

Total participants

152

No prior year

Average account balance

$60,668

No prior year

Annual return

-62.40%

No prior year

Benchmarks

See 2,205 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,205 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.31M

Not enough data

1 years with asset history on file

Average account balance

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

$54K

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.

172

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.

92.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$913K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+11.65%

Not enough data

1 years with return on file

Admin fee / account holder

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

$153

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 9 by compensation

Provider	Service type	Compensation
NATIONAL FINANCIAL SERVICES1+ years Filed as: NATIONAL FINANCIAL SERVICES LLC Service code 61 · EIN 04-3523567	Finders' fees / placement fees	$60,313
MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 62 · EIN 04-1590850	Recordkeeping fees; Float revenue	$33,928
MMA SECURITIES LLC1+ years Service code 27 · EIN 22-3570392	Advisory (Plan)	$11,278
COMPASS 360, LLC1+ years Filed as: COMPASS 360 LLC Service code 50 · EIN 81-1939215	Direct Payment	$9,762
MORGAN STANLEY SMITH BARNEY1+ years Filed as: MORGAN STANLEY INS SERVICES INC Service code 53	Insurance Commissions	$8,934
ADAMSBROWN LLC1+ years Service code 10 · EIN 84-3541096	Accounting	$6,150
MORGAN STANLEY SMITH BARNEY1+ years Service code 55 · EIN 26-4310632	Other Commissions	$2,613
COMPASS 360, LLC1+ years Filed as: COMPASS RETIREMENT CONSULTING GROUP Service code 13	Contract Administrator	$600
FIDELITY INVESTMENTS INSTITUTIONAL1+ years Service code 37 · EIN 04-2647786	Loan Processing	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
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.

Opportunity flags

4 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.
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

$62K

$483 / participant

Other / not subdivided$62K100.0%

% of EOY assets

0.760%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ADAMSBROWN LLC
Auditor EIN: 843541096
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$60,668

$49,451+22.7%

$79,580-23.8%

$66,938-9.4%

Participation rate

85.9%

61.3%+24.6pp

69.5%+16.4pp

69.8%+16.1pp

Annual return

-62.40%

84.25%-146.7pp

0.15%-62.6pp

1.58%-64.0pp

Employer contribution / active EE

$1,645

$1,266+30.0%

$2,413-31.9%

$2,545-35.4%

Participant deferral / active EE

$5,063

$3,159+60.3%

$3,985+27.0%

$4,238+19.4%

Admin fee / account holder

$461

$595-22.4%

$6,835-93.3%

$594-22.3%

Provider

Service type

Compensation

NATIONAL FINANCIAL SERVICES1+ years

Filed as: NATIONAL FINANCIAL SERVICES LLC

Service code 61 · EIN 04-3523567

Finders' fees / placement fees

$60,313

MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 62 · EIN 04-1590850

Recordkeeping fees; Float revenue

$33,928

MMA SECURITIES LLC1+ years

Service code 27 · EIN 22-3570392

Advisory (Plan)

$11,278

COMPASS 360, LLC1+ years

Filed as: COMPASS 360 LLC

Service code 50 · EIN 81-1939215

Direct Payment

$9,762

MORGAN STANLEY SMITH BARNEY1+ years

Filed as: MORGAN STANLEY INS SERVICES INC

Service code 53

Insurance Commissions

$8,934

ADAMSBROWN LLC1+ years

Service code 10 · EIN 84-3541096

Accounting

$6,150

MORGAN STANLEY SMITH BARNEY1+ years

Service code 55 · EIN 26-4310632

Other Commissions

$2,613

COMPASS 360, LLC1+ years

Filed as: COMPASS RETIREMENT CONSULTING GROUP

Service code 13

Contract Administrator

$600

FIDELITY INVESTMENTS INSTITUTIONAL1+ years

Service code 37 · EIN 04-2647786

Loan Processing

SCHOLFIELD 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SCHOLFIELD 401(K) 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