Retirement plan

AMERICAN SYSTEMS CORPORATION EMPLOYEE SAVINGS AND SECURITY 401(K) PLAN

Name: AMERICAN SYSTEMS CORPORATION - AMERICAN SYSTEMS CORPORATION EMPLOYEE SAVINGS AND SECURITY 401(K) PLAN (2023) Form 5500
Creator: AMERICAN SYSTEMS CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AMERICAN SYSTEMS CORPORATION EMPLOYEE SAVINGS AND SECURITY 401(K) PLAN, AMERICAN SYSTEMS CORPORATION

AMERICAN SYSTEMS CORPORATIONEIN 54-0962497Plan #002PY 2023

14151 PARK MEADOW DRIVE SUITE 500 - CHANTILLY, VA 201512272703-968-5008americansystems.comLinkedIn1001-5000 employeesinformation technology and services

Other plans on this EIN

1 filing

#003Retirement-$331.3M assets

Prospect flagsFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed August 17, 2017

Plan administrator

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14151 Park Meadow Drive, Suite 500

Chantilly State: VA Zip Code: 20151

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Plans declared (1)

The American Systems Corporations Nonqualified Deferred Compensation Plan40 emp

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Total assets (EOY)

$209.4M

+17.5% from 2022

Total participants

2,453

+4.5% from 2022

Average account balance

$93,002

+15.6% from 2022

Annual return

21.79%

+37.33 pp from 2022

Benchmarks

See 929 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort929 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$232.15M

Not enough data

1 years with asset history on file

Average account balance

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

$103K

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.

2,261

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.

87.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$16.38M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+17.47%

Not enough data

1 years with return on file

Admin fee / account holder

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

$99

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 3 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290	Contract Administrator	$222,496
SAGEVIEW ADVISORY GROUP, LLC1 year Filed as: SAGEVIEW ADVISORY GROUP, Service code 13 · EIN 33-0818867	Contract Administrator	$19,144
MORNINGSTAR2 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3H

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

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

$242K

$154 / participant

Investment mgmt$19K7.9%
Contract admin$222K92.1%

% of EOY assets

0.115%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: COHNREZNICK LLP
Auditor EIN: 221478099
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$93,002

$107,459-13.5%

$135,903-31.6%

$80,160+16.0%

Participation rate

87.2%

78.0%+9.1pp

81.9%+5.2pp

72.9%+14.2pp

Annual return

21.79%

91.91%-70.1pp

68.23%-46.4pp

40.38%-18.6pp

Employer contribution / active EE

$3,877-100.0%

$4,856-100.0%

$2,978-100.0%

Participant deferral / active EE

$9,864

$8,195+20.4%

$7,758+27.1%

$5,017+96.6%

Admin fee / account holder

$107

$127-15.5%

$10,762-99.0%

$145-26.0%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY9+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$222,496

SAGEVIEW ADVISORY GROUP, LLC1 year

Filed as: SAGEVIEW ADVISORY GROUP,

Service code 13 · EIN 33-0818867

Contract Administrator

$19,144

MORNINGSTAR2 years

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L

Service code 26 · EIN 36-4317381

Advisory (Participants)

AMERICAN SYSTEMS CORPORATION EMPLOYEE SAVINGS AND SECURITY 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AMERICAN SYSTEMS CORPORATION EMPLOYEE SAVINGS AND SECURITY 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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