Retirement plan

SUMMIT ELECTRIC CONSTRUCTION, INC 401(K) PLAN

Name: SUMMIT ELECTRICAL CONSTRUCTION, INC. - SUMMIT ELECTRIC CONSTRUCTION, INC 401(K) PLAN (2020) Form 5500
Creator: SUMMIT ELECTRICAL CONSTRUCTION, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SUMMIT ELECTRIC CONSTRUCTION, INC 401(K) PLAN, SUMMIT ELECTRICAL CONSTRUCTION, INC.

SUMMIT ELECTRICAL CONSTRUCTION, INC.EIN 63-1245889Plan #001PY 2020

711 39TH ST N - BIRMINGHAM, AL 35222205-591-0155summiteci.comLinkedIn11-50 employeesconstruction

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$3.6M

+21.8% from 2019

Total participants

+8.1% from 2019

Average account balance

$93,908

+9.0% from 2019

Annual return

13.96%

-8.35 pp from 2019

Benchmarks

See 16,249 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort16,249 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.73M

Not enough data

1 years with asset history on file

Average account balance

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

$119K

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.

102.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$413K

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

+17.22%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3881

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 codes2E2F2G2J2T3D3F

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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$43K

$1231 / participant

Other / not subdivided$43K100.0%

% of EOY assets

1.207%

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

$93,908

$72,273+29.9%

$101,275-7.3%

$79,856+17.6%

Participation rate

94.3%

68.5%+25.8pp

75.8%+18.5pp

69.6%+24.6pp

Annual return

13.96%

22.30%-8.3pp

46.48%-32.5pp

31.71%-17.7pp

Employer contribution / active EE

$2,793

$2,691+3.8%

$3,660-23.7%

$2,471+13.0%

Participant deferral / active EE

$4,264

$3,282+29.9%

$4,371-2.4%

$3,741+14.0%

Admin fee / account holder

$1,134

$4,401-74.2%

$5,948-80.9%

$5,306-78.6%

SUMMIT ELECTRIC CONSTRUCTION, INC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SUMMIT ELECTRIC CONSTRUCTION, INC 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