Retirement plan

SOUTHWEST KEY PROGRAMS, INC. 401(K) RETIREMENT PLAN

Name: SOUTHWEST KEY PROGRAMS, INC. - SOUTHWEST KEY PROGRAMS, INC. 401(K) RETIREMENT PLAN (2023) Form 5500
Creator: SOUTHWEST KEY PROGRAMS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOUTHWEST KEY PROGRAMS, INC. 401(K) RETIREMENT PLAN, SOUTHWEST KEY PROGRAMS, INC.

SOUTHWEST KEY PROGRAMS, INC.EIN 74-2481167Plan #001PY 2023

6002 JAIN LN - AUSTIN, TX 78721512-583-2541LinkedIn1-10 employeeslaw enforcement

Prospect flagsLow assets / participantFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed August 10, 2017

Plan administrator

Plan administrator name— Sign in and upgrade to view

6002 Jain Lane

Austin State: TX Zip Code: 78721

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Plans declared (1)

Southwest Key 457(b) Plan12 emp

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Total assets (EOY)

$224.6M

-22.8% from 2016

Total participants

11,226

-8.0% from 2016

Average account balance

$20,713

-0.2% from 2016

Annual return

18.75%

-11.53 pp from 2016

Benchmarks

See 224 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants5,000-9,999

Cohort224 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$277.14M

Not enough data

1 years with asset history on file

Average account balance

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

$27K

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.

10,452

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.

96.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$67.40M

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

+13.14%

Not enough data

1 years with return on file

Admin fee / account holder

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

$97

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

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 15 · EIN 84-0467907	Recordkeeping	$464,880
QDRO CONSULTANTS COMPANY, LLC1 year Service code 16 · EIN 34-1820650	Consulting	$400

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3H

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
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

3 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$953K

$98 / participant

Recordkeeping$952K100.0%
Other / not subdivided$4000.0%

% of EOY assets

0.424%

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: WEAVER AND TIDWELL LLP
Auditor EIN: 750786316
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$20,713

$59,312-65.1%

$149,740-86.2%

$103,657-80.0%

Participation rate

96.0%

70.3%+25.8pp

78.8%+17.3pp

73.4%+22.7pp

Annual return

18.75%

78.03%-59.3pp

134.51%-115.8pp

33.13%-14.4pp

Employer contribution / active EE

$3,015

$2,187+37.9%

$4,821-37.5%

$3,216-6.2%

Participant deferral / active EE

$3,569

$3,719-4.0%

$5,683-37.2%

$5,218-31.6%

Admin fee / account holder

$88

$103-14.4%

$13,222-99.3%

$114-23.0%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 15 · EIN 84-0467907

Recordkeeping

$464,880

QDRO CONSULTANTS COMPANY, LLC1 year

Service code 16 · EIN 34-1820650

Consulting

$400

SOUTHWEST KEY PROGRAMS, INC. 401(K) RETIREMENT 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

SOUTHWEST KEY PROGRAMS, INC. 401(K) RETIREMENT 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