Retirement plan

SOUTHERN SYNERGY, INC. 401(K) PROFIT SHARING PLAN

Name: SOUTHERN SYNERGY, INC. 401(K) PROFIT SHARING PLAN - SOUTHERN SYNERGY, INC. 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: SOUTHERN SYNERGY, INC. 401(K) PROFIT SHARING PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOUTHERN SYNERGY, INC. 401(K) PROFIT SHARING PLAN, SOUTHERN SYNERGY, INC. 401(K) PROFIT SHARING PLAN

SOUTHERN SYNERGY, INC. 401(K) PROFIT SHARING PLANEIN 68-0491677Plan #001PY 2022

17 VINE STREET NW - DECATUR, AL 35601256-353-8405

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$5.3M

-13.4% from 2021

Total participants

+4.1% from 2021

Average account balance

$112,670

-13.4% from 2021

Annual return

-11.80%

-23.56 pp from 2021

Benchmarks

See 28,001 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,001 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.54M

Not enough data

1 years with asset history on file

Average account balance

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

$160K

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.

127.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$310K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+12.60%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4562

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 codes2J2G2E2R

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.

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

$577K

$14085 / participant

Other / not subdivided$577K100.0%

% of EOY assets

10.905%

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

$112,670

$82,674+36.3%

$125,381-10.1%

$68,486+64.5%

Participation rate

90.2%

75.1%+15.2pp

82.4%+7.9pp

67.9%+22.4pp

Annual return

-11.80%

-5.97%-5.8pp

572.31%-584.1pp

-7.85%-3.9pp

Employer contribution / active EE

$3,113

$3,382-8.0%

$4,815-35.4%

$2,597+19.9%

Participant deferral / active EE

$8,472

$6,111+38.6%

$7,448+13.8%

$4,028+110.3%

Admin fee / account holder

$12,287

$6,277+95.7%

$10,007+22.8%

$5,404+127.4%

SOUTHERN SYNERGY, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOUTHERN SYNERGY, INC. 401(K) 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