Retirement plan

SOFTWARE CONSULTANTS, INC. EMPLOYEES SAVINGS TRUST

Name: SOFTWARE CONSULTANTS, INC. - SOFTWARE CONSULTANTS, INC. EMPLOYEES SAVINGS TRUST (2023) Form 5500
Creator: SOFTWARE CONSULTANTS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOFTWARE CONSULTANTS, INC. EMPLOYEES SAVINGS TRUST, SOFTWARE CONSULTANTS, INC.

SOFTWARE CONSULTANTS, INC.EIN 52-2048645Plan #001PY 2023

8245 BOONE BLVD, SUITE 630 - VIENNA, VA 22182703-584-4290LinkedIn51-200 employeesinformation technology and services

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$7.9M

+21.1% from 2022

Total participants

-14.8% from 2022

Average account balance

$171,386

+42.2% from 2022

Annual return

23.05%

+43.46 pp from 2022

Benchmarks

See 139,707 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort139,707 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.65M

Not enough data

1 years with asset history on file

Average account balance

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

$241K

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.

222.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$292K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+19.34%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1752

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 codes2E2F2G2J2T3D

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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$425K

$22391 / participant

Other / not subdivided$425K100.0%

% of EOY assets

5.396%

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

$171,386

$148,629+15.3%

$135,982+26.0%

$139,487+22.9%

Participation rate

100.0%

83.9%+16.1pp

81.9%+18.1pp

80.3%+19.7pp

Annual return

23.05%

79.33%-56.3pp

68.32%-45.3pp

373.84%-350.8pp

Employer contribution / active EE

$4,173

$5,247-20.5%

$4,859-14.1%

$4,755-12.2%

Participant deferral / active EE

$10,595

$8,102+30.8%

$7,760+36.5%

$6,713+57.8%

Admin fee / account holder

$9,249

$12,406-25.5%

$10,767-14.1%

$11,407-18.9%

SOFTWARE CONSULTANTS, INC. EMPLOYEES SAVINGS TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOFTWARE CONSULTANTS, INC. EMPLOYEES SAVINGS TRUST

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