Retirement plan

SOUTHERN MAIL SERVICE, INC. RETIREMENT PLAN

Name: SOUTHERN MAIL SERVICE, INC. - SOUTHERN MAIL SERVICE, INC. RETIREMENT PLAN (2024) Form 5500
Creator: SOUTHERN MAIL SERVICE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOUTHERN MAIL SERVICE, INC. RETIREMENT PLAN, SOUTHERN MAIL SERVICE, INC.

SOUTHERN MAIL SERVICE, INC.EIN 75-1482649Plan #002PY 2024

2505 NORTH FRAZIER - CONROE, TX 77303936-647-1260

Prospect flagsLow returnsHigh feesLow assets / participantLow participant contributionCorrective distributions

How to read this page

Total assets (EOY)

$11.3M

+5.1% from 2023

Total participants

914

-12.5% from 2023

Average account balance

$15,275

+2.1% from 2023

Annual return

8.55%

-2.74 pp from 2023

Benchmarks

See 680 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants250-999

Cohort680 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.27M

Not enough data

1 years with asset history on file

Average account balance

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

$15K

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.

738

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.

73.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.55M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+8.55%

Not enough data

1 years with return on file

Admin fee / account holder

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

$356

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 5 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$154,933
MMA SECURITIES LLC2 years Filed as: ASSURED PARTNERS CAPITAL, INC Service code 27 200 COLONIAL CENTER PKWY · LAKE MARY, FL 32746	Advisory (Plan)	$54,627
PREMIER RETIREMENT PARTNERS6 years Filed as: PREMIER RETIREMENT PARTNERS LLC Service code 13 8040 EXCELSIOR DR STE 401 · MADISON, WI 537172919	Contract Administrator	$40,757
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$7,124
LEAFHOUSE FINANCIAL ADVISORS, LLC6 years Service code 27 6504 BRIDGE POINT PKWY STE 450 · AUSTIN, TX 78730	Advisory (Plan)	$5,417

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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

5 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$263K

$401 / participant

Recordkeeping$155K59.0%
Investment mgmt$67K25.5%
Contract admin$41K15.5%

% of EOY assets

2.330%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAS PARTNERS
Auditor EIN: 208779390
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$15,275

$55,402-72.4%

$76,089-79.9%

$77,714-80.3%

Participation rate

73.1%

63.6%+9.6pp

69.1%+4.0pp

70.6%+2.5pp

Annual return

8.55%

17.09%-8.5pp

360.94%-352.4pp

31.26%-22.7pp

Employer contribution / active EE

$2,999

$1,789+67.6%

$2,690+11.5%

$2,727+10.0%

Participant deferral / active EE

$892

$3,450-74.1%

$4,259-79.1%

$4,649-80.8%

Admin fee / account holder

$356

$410-13.2%

$6,418-94.5%

$433-17.9%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$154,933

MMA SECURITIES LLC2 years

Filed as: ASSURED PARTNERS CAPITAL, INC

Service code 27

200 COLONIAL CENTER PKWY · LAKE MARY, FL 32746

Advisory (Plan)

$54,627

PREMIER RETIREMENT PARTNERS6 years

Filed as: PREMIER RETIREMENT PARTNERS LLC

Service code 13

8040 EXCELSIOR DR STE 401 · MADISON, WI 537172919

Contract Administrator

$40,757

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$7,124

LEAFHOUSE FINANCIAL ADVISORS, LLC6 years

Service code 27

6504 BRIDGE POINT PKWY STE 450 · AUSTIN, TX 78730

Advisory (Plan)

$5,417

SOUTHERN MAIL SERVICE, INC. RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOUTHERN MAIL SERVICE, INC. RETIREMENT 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