Retirement plan

SHAMIN MANAGEMENT 1 401(K) PLAN

Name: SHAMIN MANAGEMENT 1 - SHAMIN MANAGEMENT 1 401(K) PLAN (2022) Form 5500
Creator: SHAMIN MANAGEMENT 1
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHAMIN MANAGEMENT 1 401(K) PLAN, SHAMIN MANAGEMENT 1

SHAMIN MANAGEMENT 1EIN 54-1868092Plan #001PY 2022

300 EAST FRANKLIN STREET - RICHMOND, VA 23219804-777-9000

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$5.2M

-7.7% from 2021

Total participants

1,387

+0.3% from 2021

Average account balance

$9,685

+0.2% from 2021

Annual return

-15.16%

-27.05 pp from 2021

Benchmarks

See 266 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort266 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.60M

Not enough data

1 years with asset history on file

Average account balance

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

$15K

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.

506

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.

16.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$938K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$600

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

+9.36%

Not enough data

1 years with return on file

Admin fee / account holder

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

$70

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 2 by compensation

Provider	Service type	Compensation
SECURIAN FINANCIAL SERVICES INC8+ years Filed as: SECURIAN FINANCIAL SERVICES, INC. Service code 26 130 WYLDEROSE DR · MIDLOTHIAN, VA 23113	Advisory (Participants)	$17,739
NWPS3 years Service code 15 · EIN 91-2090931 300 E. JOPPA ROAD, STE 601 · TOWSON, MD 21286	Recordkeeping	$6,919

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$25K

$22 / participant

Investment mgmt$18K71.9%
Other / not subdivided$7K28.1%

% of EOY assets

0.472%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WELLS, COLEMAN AND COMPANY, LLP
Auditor EIN: 540593442
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$9,685

$26,906-64.0%

$61,399-84.2%

$77,906-87.6%

Participation rate

25.5%

33.4%-8.0pp

52.6%-27.1pp

73.7%-48.2pp

Annual return

-15.16%

-14.46%-0.7pp

338.81%-354.0pp

12.16%-27.3pp

Employer contribution / active EE

$101

$521-80.6%

$1,159-91.3%

$2,846-96.5%

Participant deferral / active EE

$599

$1,180-49.3%

$2,124-71.8%

$4,805-87.5%

Admin fee / account holder

$46

$117-60.9%

$2,131-97.9%

$133-65.5%

Provider

Service type

Compensation

SECURIAN FINANCIAL SERVICES INC8+ years

Filed as: SECURIAN FINANCIAL SERVICES, INC.

Service code 26

130 WYLDEROSE DR · MIDLOTHIAN, VA 23113

Advisory (Participants)

$17,739

NWPS3 years

Service code 15 · EIN 91-2090931

300 E. JOPPA ROAD, STE 601 · TOWSON, MD 21286

Recordkeeping

$6,919

SHAMIN MANAGEMENT 1 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHAMIN MANAGEMENT 1 401(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