Retirement plan

NEXT LEVEL PETROLEUM 401 K PROFIT SHARING PLAN

Name: NEXT LEVEL PETROLEUM LLC - NEXT LEVEL PETROLEUM 401 K PROFIT SHARING PLAN (2023) Form 5500
Creator: NEXT LEVEL PETROLEUM LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NEXT LEVEL PETROLEUM 401 K PROFIT SHARING PLAN, NEXT LEVEL PETROLEUM LLC

NEXT LEVEL PETROLEUM LLCEIN 74-3049970Plan #001PY 2023

5887 GLENRIDGE DR, SUITE 440 - ATLANTA, GA 30328770-392-1662nextlevelpetroleum.comLinkedIn11-50 employeesoil & energy

Prospect flagsHigh feesLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$791K

+64.4% from 2022

Total participants

+9.1% from 2022

Average account balance

$56,511

+76.2% from 2022

Annual return

31.22%

+54.58 pp from 2022

Benchmarks

See 23,824 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,824 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.66M

Not enough data

1 years with asset history on file

Average account balance

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

$79K

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.

52.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$268K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+18.71%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1398

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 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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$18K

$831 / participant

Other / not subdivided$18K100.0%

% of EOY assets

2.311%

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

$56,511

$154,159-63.3%

$130,026-56.5%

$139,456-59.5%

Participation rate

54.5%

82.0%-27.4pp

78.5%-24.0pp

80.3%-25.8pp

Annual return

31.22%

32.50%-1.3pp

-137.26%+168.5pp

373.45%-342.2pp

Employer contribution / active EE

$2,216

$5,292-58.1%

$4,321-48.7%

$4,753-53.4%

Participant deferral / active EE

$5,511

$6,710-17.9%

$5,821-5.3%

$6,711-17.9%

Admin fee / account holder

$1,306

$14,001-90.7%

$10,608-87.7%

$11,407-88.6%

NEXT LEVEL PETROLEUM 401 K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NEXT LEVEL PETROLEUM 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