Retirement plan

SEMMES, BOWEN & SEMMES 401(K)PLAN

Name: SEMMES, BOWEN & SEMMES A PROFESSIONAL CORPORATION - SEMMES, BOWEN & SEMMES 401(K)PLAN (2022) Form 5500
Creator: SEMMES, BOWEN & SEMMES A PROFESSIONAL CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SEMMES, BOWEN & SEMMES 401(K)PLAN, SEMMES, BOWEN & SEMMES A PROFESSIONAL CORPORATION

SEMMES, BOWEN & SEMMES A PROFESSIONAL CORPORATIONEIN 52-1955555Plan #002PY 2022

250 W. PRATT STREET, SUITE 1900 - BALTIMORE, MD 21201410-576-4806semmes.comLinkedIn51-200 employeeslaw practice

Other plans on this EIN

1 filing

#001Retirement-$28.6M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$12.7M

-20.6% from 2021

Total participants

193

+4.3% from 2021

Average account balance

$84,278

-22.2% from 2021

Annual return

-16.37%

-29.20 pp from 2021

Benchmarks

See 5,987 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,987 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$14.75M

Not enough data

1 years with asset history on file

Average account balance

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

$106K

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.

139

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.

69.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$776K

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

+13.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$586

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 5 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH6 years Filed as: MERRILL LYNCH LIFE AGENCY, INC Service code 17 · EIN 13-5674085	Pension Consulting	$41,111
PRINCIPAL LIFE INSURANCE COMPANY7 years Service code 13 · EIN 42-0127290	Contract Administrator	$28,193
MKS&H5 years Service code 10 · EIN 52-0547375	Accounting	$19,220
COASTAL PENSION SERVICES7 years Filed as: COASTAL PENSION SERVICES, INC. Service code 13	Contract Administrator	$6,689
COASTAL PENSION SERVICES7 years Filed as: COASTAL PENSION SERVICES INC Service code 13 · EIN 52-1053785	Contract Administrator	$5,797

Plan features & details

Pension benefit codes2G2J2F3D

Plan features

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$94K

$655 / participant

Investment mgmt$21K21.8%
Contract admin$33K35.2%
Other / not subdivided$41K43.0%

% of EOY assets

0.741%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MCLEAN, KOEHLER, SPARKS & HAMMOND
Auditor EIN: 520547375
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$84,278

$84,499-0.3%

$125,391-32.8%

$66,949+25.9%

Participation rate

70.8%

76.4%-5.6pp

82.4%-11.6pp

69.8%+1.0pp

Annual return

-16.37%

-8.49%-7.9pp

572.41%-588.8pp

1.57%-17.9pp

Employer contribution / active EE

$3,554-100.0%

$4,816-100.0%

$2,545-100.0%

Participant deferral / active EE

$5,452

$6,785-19.6%

$7,448-26.8%

$4,239+28.6%

Admin fee / account holder

$625

$685-8.8%

$10,009-93.8%

$594+5.2%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH6 years

Filed as: MERRILL LYNCH LIFE AGENCY, INC

Service code 17 · EIN 13-5674085

Pension Consulting

$41,111

PRINCIPAL LIFE INSURANCE COMPANY7 years

Service code 13 · EIN 42-0127290

Contract Administrator

$28,193

MKS&H5 years

Service code 10 · EIN 52-0547375

Accounting

$19,220

COASTAL PENSION SERVICES7 years

Filed as: COASTAL PENSION SERVICES, INC.

Service code 13

Contract Administrator

$6,689

COASTAL PENSION SERVICES7 years

Filed as: COASTAL PENSION SERVICES INC

Service code 13 · EIN 52-1053785

Contract Administrator

$5,797

SEMMES, BOWEN & SEMMES 401(K)PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SEMMES, BOWEN & SEMMES 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