Retirement plan

SBAI PROFIT SHARING AND RETIREMENT PLAN

Name: SOUTHERN BENEFIT ADMINISTRATORS INC. - SBAI PROFIT SHARING AND RETIREMENT PLAN (2024) Form 5500
Creator: SOUTHERN BENEFIT ADMINISTRATORS INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SBAI PROFIT SHARING AND RETIREMENT PLAN, SOUTHERN BENEFIT ADMINISTRATORS INC.

SOUTHERN BENEFIT ADMINISTRATORS INC.EIN 62-1116095Plan #001PY 2024

2001 CALDWELL DRIVE - GOODLETTSVILLE, TN 37072615-859-0131southernbenefit.comLinkedIn201-500 employeesmanagement consulting

Prospect flagsLow participant contribution

How to read this page

Total assets (EOY)

$25.4M

+15.3% from 2023

Total participants

232

+3.1% from 2023

Average account balance

$112,915

+10.7% from 2023

Annual return

13.38%

-3.36 pp from 2023

Benchmarks

See 2,174 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,174 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$25.41M

Not enough data

1 years with asset history on file

Average account balance

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

$113K

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.

225

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.

96.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.01M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+13.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

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
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290	Contract Administrator	$1,500
WILSHIRE ASSOCIATES INCORPORATED10+ years Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

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

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$2K

$7 / participant

Contract admin$2K100.0%

% of EOY assets

0.006%

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: DANIELS IRWIN & AYLOR
Auditor EIN: 621802605
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$112,915

$122,042-7.5%

$184,260-38.7%

$74,459+51.6%

Participation rate

96.6%

85.5%+11.1pp

86.8%+9.8pp

67.2%+29.4pp

Annual return

13.38%

19.91%-6.5pp

28.84%-15.5pp

1369.70%-1356.3pp

Employer contribution / active EE

$3,746

$4,537-17.4%

$6,427-41.7%

$2,626+42.7%

Participant deferral / active EE

$1,168

$7,143-83.6%

$9,133-87.2%

$4,350-73.1%

Admin fee / account holder

$1,252-99.5%

$13,898-100.0%

$1,945-99.7%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY10+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$1,500

WILSHIRE ASSOCIATES INCORPORATED10+ years

Service code 27 · EIN 95-2755361

Advisory (Plan)

SBAI PROFIT SHARING AND RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SBAI PROFIT SHARING AND 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