Retirement plan

SNYDER ROOFING & SHEET METAL, INC. 401K PROFIT SHARING PLAN

Name: SNYDER ROOFING & SHEET METAL, INC. - SNYDER ROOFING & SHEET METAL, INC. 401K PROFIT SHARING PLAN (2023) Form 5500
Creator: SNYDER ROOFING & SHEET METAL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SNYDER ROOFING & SHEET METAL, INC. 401K PROFIT SHARING PLAN, SNYDER ROOFING & SHEET METAL, INC.

SNYDER ROOFING & SHEET METAL, INC.EIN 93-0438553Plan #003PY 2023

PO BOX 23819 - TIGARD, OR 972813819503-620-5252srsm-inc.comLinkedIn51-200 employeesconstruction

Prospect flagsHigh feesRecently reached 100 employees

How to read this page

Total assets (EOY)

$8M

+15.0% from 2022

Total participants

151

+169.6% from 2022

Average account balance

$53,124

-60.4% from 2022

Annual return

15.49%

+14.17 pp from 2022

Benchmarks

See 18,032 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,032 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.22M

Not enough data

1 years with asset history on file

Average account balance

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

$110K

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.

76.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$754K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+12.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

$738

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

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

Service providers

Top 2 by compensation

Provider	Service type	Compensation
BAC CAPITAL ADVISORS, LLC4 years Service code 26 · EIN 91-1999591	Advisory (Participants)	$10,747
JOHN HANCOCK LIFE INSURANCE COMPANY6 years Service code 15 · EIN 01-0233346	Recordkeeping	$995

Plan features & details

Pension benefit codes2E2G2J2K3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$52K

$900 / participant

Contract admin$52K100.0%

% of EOY assets

0.651%

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: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$53,124

$73,988-28.2%

$96,538-45.0%

$75,177-29.3%

Participation rate

100.0%

66.4%+33.6pp

74.3%+25.7pp

67.2%+32.8pp

Annual return

15.49%

26.73%-11.2pp

35.74%-20.2pp

160.75%-145.3pp

Employer contribution / active EE

$5,065

$2,930+72.8%

$3,740+35.4%

$2,671+89.6%

Participant deferral / active EE

$7,694

$3,660+110.2%

$4,880+57.7%

$4,126+86.5%

Admin fee / account holder

$346

$5,220-93.4%

$6,737-94.9%

$5,651-93.9%

Provider

Service type

Compensation

BAC CAPITAL ADVISORS, LLC4 years

Service code 26 · EIN 91-1999591

Advisory (Participants)

$10,747

JOHN HANCOCK LIFE INSURANCE COMPANY6 years

Service code 15 · EIN 01-0233346

Recordkeeping

$995

SNYDER ROOFING & SHEET METAL, INC. 401K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SNYDER ROOFING & SHEET METAL, 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