Retirement plan

SCHIRM USA, INC. 401K PROFIT SHARING PLAN

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

SCHIRM USA INC.EIN 75-2595474Plan #001PY 2022

2801 OAK GROVE ROAD, SUITE 237 - ENNIS, TX 75120972-878-4400schirmusa.comLinkedIn201-500 employeeschemicals

Prospect flagsLow participationLow assets / participantLow participant contributionLow fidelity bondFailed to transmit contributions

How to read this page

Total assets (EOY)

$2.9M

-24.8% from 2021

Total participants

209

-2.8% from 2021

Average account balance

$18,416

-18.2% from 2021

Annual return

-15.04%

-26.96 pp from 2021

Benchmarks

See 1,873 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort1,873 peers

Snapshot2022

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$4.04M

Not enough data

1 years with asset history on file

Average account balance

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

$31K

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.

130

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.

49.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$510K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+9.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$158

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 4 by compensation

Provider	Service type	Compensation
EPIC RETIREMENT PLAN SERVICES6 years Filed as: AUSTIN CAPITAL RETIREMENT PLAN SERV Service code 13 1601 ELM STREET · DALLAS, TX 75201	Contract Administrator	$11,778
FAMILYWEALTH ADVISERS, LLC2 years Service code 27 4600 S. SYRACUSE · DENVER, CO 80237	Advisory (Plan)	$7,822
AUSTIN CAPITAL TRUST COMPANY, LLC3 years Filed as: AUSTIN CAPITAL TRUST COMPANY Service code 17 200 S. VIRGINIA STREET, 8TH FLOOR · RENO, NV 89501	Pension Consulting	$2,257
AUSTIN CAPITAL TRUST COMPANY, LLC2 years Service code 17	Pension Consulting	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3F

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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant 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.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$22K

$142 / participant

Investment mgmt$8K35.8%
Contract admin$12K53.9%
Other / not subdivided$2K10.3%

% of EOY assets

0.746%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: THE CJ CPA GROUP, PLLC
Auditor EIN: 274461251
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$18,416

$72,607-74.6%

$90,749-79.7%

$66,914-72.5%

Participation rate

67.5%

73.7%-6.1pp

75.7%-8.2pp

69.8%-2.3pp

Annual return

-15.04%

-12.28%-2.8pp

-12.16%-2.9pp

1.58%-16.6pp

Employer contribution / active EE

$870

$2,369-63.3%

$2,921-70.2%

$2,544-65.8%

Participant deferral / active EE

$1,297

$3,977-67.4%

$4,564-71.6%

$4,237-69.4%

Admin fee / account holder

$137

$707-80.6%

$8,445-98.4%

$593-76.8%

Provider

Service type

Compensation

EPIC RETIREMENT PLAN SERVICES6 years

Filed as: AUSTIN CAPITAL RETIREMENT PLAN SERV

Service code 13

1601 ELM STREET · DALLAS, TX 75201

Contract Administrator

$11,778

FAMILYWEALTH ADVISERS, LLC2 years

Service code 27

4600 S. SYRACUSE · DENVER, CO 80237

Advisory (Plan)

$7,822

AUSTIN CAPITAL TRUST COMPANY, LLC3 years

Filed as: AUSTIN CAPITAL TRUST COMPANY

Service code 17

200 S. VIRGINIA STREET, 8TH FLOOR · RENO, NV 89501

Pension Consulting

$2,257

AUSTIN CAPITAL TRUST COMPANY, LLC2 years

Service code 17

Pension Consulting

SCHIRM USA, INC. 401K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SCHIRM USA, INC. 401K 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