Retirement plan

1 SOURCE CONSULTING, INC. 401 K PROFIT SHARING PLAN

Name: 1 SOURCE CONSULTING, INC. - 1 SOURCE CONSULTING, INC. 401 K PROFIT SHARING PLAN (2023) Form 5500
Creator: 1 SOURCE CONSULTING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 1 SOURCE CONSULTING, INC. 401 K PROFIT SHARING PLAN, 1 SOURCE CONSULTING, INC.

1 SOURCE CONSULTING, INC.EIN 52-2160405Plan #001PY 2023

9500 MEDICAL CENTER DRIVE, SUITE 450 - LARGO, MD 20774202-624-0800

Prospect flagsHigh feesLow participationLow participant contributionFailed to transmit contributionsWind-down / frozen

How to read this page

Total assets (EOY)

$6.9M

+5.4% from 2022

Total participants

126

-12.5% from 2022

Average account balance

$61,440

+23.1% from 2022

Annual return

12.48%

+24.81 pp from 2022

Benchmarks

See 139,766 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort139,766 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.46M

Not enough data

1 years with asset history on file

Average account balance

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

$53K

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.

121

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.

38.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$89K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+8.07%

Not enough data

1 years with return on file

Admin fee / account holder

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

$225

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
SMITH ELLIOTT KEARNS & COMPANY LLC4 years Filed as: SMITH ELLIOTT KEARNS AND COMPANY, L Service code 99 · EIN 52-0783935	Other Fees	$26,600
CBIZ RETIREMENT PLAN SERVICES3 years Filed as: CBIZ BENEFITS AND INSURANCE SERVICE Service code 49 · EIN 81-3968774	Other Services	$21,072
VOYA RETIREMENT INSURANCE & ANNUITY3 years Filed as: VOYA RETIREMENT INSURANCE AND ANNUI Service code 26 · EIN 71-0294708	Advisory (Participants)	$20,894
CBIZ RETIREMENT PLAN SERVICES1 year Filed as: CBIZ INVESTMENT ADVISORY SERVICES Service code 99 · EIN 81-3968774	Other Fees	$16,734
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANAGEMENT Service code 26 · EIN 36-4317381	Advisory (Participants)	$229

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalWind-down / frozen
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.

Expense breakdown

Schedule H Part II

Admin total

$65K

$3106 / participant

Investment mgmt$4580.7%
Contract admin$38K58.5%
Other / not subdivided$27K40.8%

% of EOY assets

0.939%

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: SMITH ELLIOTT KEARNS & COMPANY, LLC
Auditor EIN: 520783935
Audit fees: $26,600
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$61,440

$148,623-58.7%

$135,974-54.8%

$139,466-55.9%

Participation rate

38.1%

83.9%-45.8pp

81.9%-43.8pp

80.3%-42.2pp

Annual return

12.48%

79.30%-66.8pp

68.30%-55.8pp

373.66%-361.2pp

Employer contribution / active EE

$1,270

$5,246-75.8%

$4,859-73.9%

$4,754-73.3%

Participant deferral / active EE

$1,812

$8,103-77.6%

$7,760-76.6%

$6,712-73.0%

Admin fee / account holder

$577

$12,406-95.3%

$10,767-94.6%

$11,409-94.9%

Provider

Service type

Compensation

SMITH ELLIOTT KEARNS & COMPANY LLC4 years

Filed as: SMITH ELLIOTT KEARNS AND COMPANY, L

Service code 99 · EIN 52-0783935

Other Fees

$26,600

CBIZ RETIREMENT PLAN SERVICES3 years

Filed as: CBIZ BENEFITS AND INSURANCE SERVICE

Service code 49 · EIN 81-3968774

Other Services

$21,072

VOYA RETIREMENT INSURANCE & ANNUITY3 years

Filed as: VOYA RETIREMENT INSURANCE AND ANNUI

Service code 26 · EIN 71-0294708

Advisory (Participants)

$20,894

CBIZ RETIREMENT PLAN SERVICES1 year

Filed as: CBIZ INVESTMENT ADVISORY SERVICES

Service code 99 · EIN 81-3968774

Other Fees

$16,734

MORNINGSTAR1 year

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT

Service code 26 · EIN 36-4317381

Advisory (Participants)

$229

1 SOURCE CONSULTING, INC. 401 K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

1 SOURCE CONSULTING, INC. 401 K PROFIT SHARING 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