Retirement plan

PETROLEUM EQUIPMENT & SERVICE ASSOCIATION DBA ENERGY WORKFORCE & TECHNOLOGY COUNCIL 401(K) PLAN

Name: PETROLEUM EQUIPMENT & SERVICES ASSOCIATION - PETROLEUM EQUIPMENT & SERVICE ASSOCIATION DBA ENERGY WORKFORCE & TECHNOLOGY COUNCIL 401(K) PLAN (2022) Form 5500
Creator: PETROLEUM EQUIPMENT & SERVICES ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PETROLEUM EQUIPMENT & SERVICE ASSOCIATION DBA ENERGY WORKFORCE & TECHNOLOGY COUNCIL 401(K) PLAN, PETROLEUM EQUIPMENT & SERVICES ASSOCIATION

PETROLEUM EQUIPMENT & SERVICES ASSOCIATIONdba DBA ENERGY WORKFORCE & TECHNOLOGY COUNCILEIN 74-0484340Plan #003PY 2022

2500 CITYWEST BLVD STE 1110 - HOUSTON, TX 77042713-932-0168

Prospect flagsHigh fees

Top hat statement on fileNQDC

Filed October 10, 2023

Plan administrator

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9711 Mason Rd., Suite 125-673

Richmond, TX 77407

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Plans declared (1)

Plan name not on file12 emp

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Total assets (EOY)

$1.1M

+8.1% from 2021

Total participants

+18.2% from 2021

Average account balance

$87,110

-8.6% from 2021

Annual return

-3.39%

-3.39 pp from 2021

Benchmarks

See 39,290 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort39,290 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.50M

Not enough data

1 years with asset history on file

Average account balance

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

$83K

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.

163.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$216K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$20K

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

+14.51%

Not enough data

1 years with return on file

Admin fee / account holder

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

$27081

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

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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 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

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

$113K

$9398 / participant

Other / not subdivided$113K100.0%

% of EOY assets

9.959%

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

$87,110

$92,743-6.1%

$82,744+5.3%

$134,532-35.2%

Participation rate

100.0%

75.2%+24.8pp

72.6%+27.4pp

81.2%+18.8pp

Annual return

-3.39%

946.63%-950.0pp

702.22%-705.6pp

418.27%-421.7pp

Employer contribution / active EE

$9,022

$3,273+175.7%

$3,008+199.9%

$4,741+90.3%

Participant deferral / active EE

$9,050

$4,802+88.5%

$4,395+105.9%

$6,401+41.4%

Admin fee / account holder

$8,675

$5,977+45.1%

$5,325+62.9%

$11,429-24.1%

PETROLEUM EQUIPMENT & SERVICE ASSOCIATION DBA ENERGY WORKFORCE & TECHNOLOGY COUNCIL 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PETROLEUM EQUIPMENT & SERVICE ASSOCIATION DBA ENERGY WORKFORCE & TECHNOLOGY COUNCIL 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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