Retirement plan

SOUTHERN MARYLAND ELECTRIC COOPERATIVE, INC. BARGAINING UNIT EMPLOYEES' 401(K) PLAN

Name: SOUTHERN MARYLAND ELECTRIC COOP. - SOUTHERN MARYLAND ELECTRIC COOPERATIVE, INC. BARGAINING UNIT EMPLOYEES' 401(K) PLAN (2016) Form 5500
Creator: SOUTHERN MARYLAND ELECTRIC COOP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOUTHERN MARYLAND ELECTRIC COOPERATIVE, INC. BARGAINING UNIT EMPLOYEES' 401(K) PLAN, SOUTHERN MARYLAND ELECTRIC COOP.

SOUTHERN MARYLAND ELECTRIC COOP.EIN 52-0492367Plan #003PY 2016

15035 BURNT STORE ROAD - HUGHESVILLE, MD 20637301-274-3111smeco.coopLinkedIn201-500 employeesutilities

Other plans on this EIN

2 filings

#001Retirement-$108.1M assets #002Retirement-$59.0M assets

Prospect flagsLow returns

Top hat statement on fileNQDC

Filed December 17, 2020 (most recent of 10 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

PO Box 1937

Hughesville, MD 20637

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Plans declared (2)

Southern Maryland Electric Cooperative, Inc. Supplemental Executive Retirement Plan4 emp
Southern Maryland Electric Cooperative, Inc. Section 457(b) Voluntary Deferred Compensation Plan4 emp

Total covered: 8 employees

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Total assets (EOY)

$30.7M

-12.2% from 2016

Total participants

360

+1.1% from 2016

Average account balance

$85,361

-13.2% from 2016

Annual return

4.80%

-5.28 pp from 2016

Benchmarks

See 131 peers

Peer group

Industry22 - Utilities

Plan typeDefined contribution

Participants250-999

Cohort131 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$70.33M

Not enough data

1 years with asset history on file

Average account balance

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

$192K

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.

366

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

$5.19M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+5.52%

Not enough data

1 years with return on file

Admin fee / account holder

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

$268

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 4 by compensation

Provider	Service type	Compensation
PRUDENTIAL RETIREMENT INSURANCE AND2+ years Service code 13 · EIN 06-1050034	Contract Administrator	$37,312
MORGAN STANLEY SMITH BARNEY1 year Service code 27 · EIN 26-4310632	Advisory (Plan)	$8,160
SONJA COX1 year Service code 56 SO MARYLAND ELECTRIC COOP INC · HUGHESVILLE, MD 20637	Non-monetary compensation	$0
PRUDENTIAL RETIREMENT INSURANCE AND2+ years Filed as: THE PRUDENTIAL INSURANCE COMPANY OF Service code 15	Recordkeeping	$0

Plan features & details

Pension benefit codes2E2F2G2J2T2S3D

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.
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

1 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$73K

$236 / participant

Other / not subdivided$73K100.0%

% of EOY assets

0.236%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: ADAMS, JENKINS & CHEATHAM P.C
Auditor EIN: 541320089
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$85,361

$122,709-30.4%

$88,497-3.5%

$57,661+48.0%

Participation rate

100.0%

89.9%+10.1pp

82.4%+17.6pp

70.2%+29.8pp

Annual return

4.80%

10.63%-5.8pp

7.63%-2.8pp

5.13%-0.3pp

Employer contribution / active EE

$5,564

$4,531+22.8%

$4,036+37.8%

$1,974+181.9%

Participant deferral / active EE

$5,012

$6,704-25.2%

$4,899+2.3%

$3,061+63.7%

Admin fee / account holder

$202

$93+117.8%

$6,220-96.8%

$95+113.4%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND2+ years

Service code 13 · EIN 06-1050034

Contract Administrator

$37,312

MORGAN STANLEY SMITH BARNEY1 year

Service code 27 · EIN 26-4310632

Advisory (Plan)

$8,160

SONJA COX1 year

Service code 56

SO MARYLAND ELECTRIC COOP INC · HUGHESVILLE, MD 20637

Non-monetary compensation

PRUDENTIAL RETIREMENT INSURANCE AND2+ years

Filed as: THE PRUDENTIAL INSURANCE COMPANY OF

Service code 15

Recordkeeping

SOUTHERN MARYLAND ELECTRIC COOPERATIVE, INC. BARGAINING UNIT EMPLOYEES' 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (2)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOUTHERN MARYLAND ELECTRIC COOPERATIVE, INC. BARGAINING UNIT EMPLOYEES' 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (2)

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