Retirement plan

SMALL BUSINESS MANAGEMENT CORPORATION PROFIT SHARING PLAN

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

SMALL BUSINESS MANAGEMENT CORPORATIONEIN 63-0753330Plan #002PY 2023

6301 MONROE STREET - DAPHNE, AL 36526251-476-0700

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$33.7M

+14.4% from 2022

Total participants

+12.5% from 2022

Average account balance

$1,873,996

+1.7% from 2022

Annual return

15.59%

+20.95 pp from 2022

Benchmarks

See 36,165 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort36,165 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$36.92M

Not enough data

1 years with asset history on file

Average account balance

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

$2.3M

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.

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.

160.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$135K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+11.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$56239

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2H2J3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$590K

$58968 / participant

Other / not subdivided$590K100.0%

% of EOY assets

1.748%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$1,873,996

$185,883+908.2%

$170,043+1002.1%

$139,466+1243.7%

Participation rate

100.0%

87.8%+12.2pp

87.0%+13.0pp

80.3%+19.7pp

Annual return

15.59%

60.54%-45.0pp

53.40%-37.8pp

373.66%-358.1pp

Employer contribution / active EE

$4,970

$7,596-34.6%

$6,790-26.8%

$4,754+4.5%

Participant deferral / active EE

$14,208

$11,626+22.2%

$10,410+36.5%

$6,712+111.7%

Admin fee / account holder

$32,760

$15,393+112.8%

$12,824+155.5%

$11,409+187.1%

SMALL BUSINESS MANAGEMENT CORPORATION PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SMALL BUSINESS MANAGEMENT CORPORATION PROFIT SHARING 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