Retirement plan

SAMET CORPORATION 401(K) PROFIT SHARING PLAN

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

SAMET CORPORATIONEIN 56-0794883Plan #001PY 2023

309 GALLIMORE DAIRY ROAD, SUITE 102 - GREENSBORO, NC 27409336-544-2619sametcorp.comLinkedIn501-1000 employeesconstruction

Prospect flagsCorrective distributions

Top hat statement on fileNQDC

Filed October 30, 2018 (most recent of 2 filings on file)

Plan administrator

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309 GALLIMORE DAIRY RD, SUITE 102

GREENSBORO State: NC Zip Code: 27409

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Plans declared (1)

SDI DEFFERED COMPENSATION PLAN5 emp

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Total assets (EOY)

$34M

+35.2% from 2022

Total participants

618

+12.4% from 2022

Average account balance

$57,776

-13.5% from 2022

Annual return

26.71%

+40.53 pp from 2022

Benchmarks

See 1,502 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,502 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$38.84M

Not enough data

1 years with asset history on file

Average account balance

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

$62K

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.

628

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.

97.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.22M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+16.24%

Not enough data

1 years with return on file

Admin fee / account holder

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

$147

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 COMPANY5 years Filed as: PRINCIPAL LIFE INSURANCE CO Service code 13 · EIN 42-0127290	Contract Administrator	$40,719
GLOBAL RETIREMENT PARTNERS LLC3 years Filed as: GLOBAL RETIREMENT Service code 26 · EIN 35-2552359	Advisory (Participants)	$28,500
STRATEGIC ADVISORS, INC.4 years Filed as: STRATEGIC RET ADMINISTRATION LLC Service code 49 · EIN 27-4018270	Other Services	$13,687

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

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$69K

$130 / participant

Contract admin$69K100.0%

% of EOY assets

0.204%

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: FORVIS MAZARS LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$57,776

$93,010-37.9%

$96,538-40.2%

$74,473-22.4%

Participation rate

94.4%

71.6%+22.8pp

74.3%+20.0pp

70.7%+23.6pp

Annual return

26.71%

37.50%-10.8pp

35.74%-9.0pp

34.36%-7.7pp

Employer contribution / active EE

$2,109

$3,427-38.5%

$3,740-43.6%

$2,638-20.1%

Participant deferral / active EE

$6,919

$3,971+74.2%

$4,880+41.8%

$4,530+52.7%

Admin fee / account holder

$118

$633-81.4%

$6,737-98.3%

$347-66.1%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY5 years

Filed as: PRINCIPAL LIFE INSURANCE CO

Service code 13 · EIN 42-0127290

Contract Administrator

$40,719

GLOBAL RETIREMENT PARTNERS LLC3 years

Filed as: GLOBAL RETIREMENT

Service code 26 · EIN 35-2552359

Advisory (Participants)

$28,500

STRATEGIC ADVISORS, INC.4 years

Filed as: STRATEGIC RET ADMINISTRATION LLC

Service code 49 · EIN 27-4018270

Other Services

$13,687

SAMET CORPORATION 401(K) PROFIT SHARING 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

SAMET CORPORATION 401(K) PROFIT SHARING 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