Retirement plan

SUMMERS-TAYLOR, INC 401(K) RETIREMENT PLAN

Name: SUMMERS-TAYLOR, INC - SUMMERS-TAYLOR, INC 401(K) RETIREMENT PLAN (2020) Form 5500
Creator: SUMMERS-TAYLOR, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SUMMERS-TAYLOR, INC 401(K) RETIREMENT PLAN, SUMMERS-TAYLOR, INC

SUMMERS-TAYLOR, INCEIN 62-0458729Plan #001PY 2020

600 SEVIER STREET - JOHNSON CITY, TN 37604423-543-3181summerstaylor.comLinkedIn201-500 employeesconstruction

Prospect flagsLow participationLow employer contribution

How to read this page

Total assets (EOY)

$13M

+17.1% from 2019

Total participants

517

-4.8% from 2019

Average account balance

$61,151

+7.7% from 2019

Annual return

14.63%

-16.09 pp from 2019

Benchmarks

See 1,282 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,282 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$16.52M

Not enough data

1 years with asset history on file

Average account balance

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

$24K

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.

688

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.

76.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.01M

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

+12.54%

Not enough data

1 years with return on file

Admin fee / account holder

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

$43

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 3 by compensation

Provider	Service type	Compensation
QUALIFIED PLAN ADMINISTRATORS, INC.1 year Filed as: QUALIFIED PLAN ADMINISTRATORS INC Service code 10 · EIN 62-1832817 332 E SPRINGBROOK DR STE 400 · JOHNSON CITY, TN 37601	Accounting	$3,902
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Filed as: MASSACHUSETTS MUTUAL LIFE INSUR CO Service code 15 · EIN 04-1590850 1295 STATE STREET · SPRINGFIELD, MA 011110001	Recordkeeping	$2,928
RELIANCE TRUST COMPANY2 years Service code 25 · EIN 58-1428634	Directed Trustee	$0

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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$7K

$14 / participant

Other / not subdivided$7K100.0%

% of EOY assets

0.052%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MARCUM LLP
Auditor EIN: 111986323
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$61,151

$91,517-33.2%

$101,275-39.6%

$73,412-16.7%

Participation rate

38.1%

73.8%-35.6pp

75.8%-37.7pp

72.2%-34.0pp

Annual return

14.63%

17.17%-2.5pp

46.48%-31.9pp

59.30%-44.7pp

Employer contribution / active EE

$448

$2,877-84.4%

$3,660-87.8%

$2,234-79.9%

Participant deferral / active EE

$1,432

$3,338-57.1%

$4,371-67.2%

$3,806-62.4%

Admin fee / account holder

$32

$216-85.4%

$5,948-99.5%

$158-80.0%

Provider

Service type

Compensation

QUALIFIED PLAN ADMINISTRATORS, INC.1 year

Filed as: QUALIFIED PLAN ADMINISTRATORS INC

Service code 10 · EIN 62-1832817

332 E SPRINGBROOK DR STE 400 · JOHNSON CITY, TN 37601

Accounting

$3,902

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Filed as: MASSACHUSETTS MUTUAL LIFE INSUR CO

Service code 15 · EIN 04-1590850

1295 STATE STREET · SPRINGFIELD, MA 011110001

Recordkeeping

$2,928

RELIANCE TRUST COMPANY2 years

Service code 25 · EIN 58-1428634

Directed Trustee

SUMMERS-TAYLOR, INC 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SUMMERS-TAYLOR, INC 401(K) RETIREMENT 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