Retirement plan

SKYLINE MAIL CARRIERS, INC. 401(K) PLAN

Name: SKYLINE MAIL CARRIERS, INC. - SKYLINE MAIL CARRIERS, INC. 401(K) PLAN (2020) Form 5500
Creator: SKYLINE MAIL CARRIERS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SKYLINE MAIL CARRIERS, INC. 401(K) PLAN, SKYLINE MAIL CARRIERS, INC.

SKYLINE MAIL CARRIERS, INC.EIN 93-0818656Plan #001PY 2020

8209 PACIFIC HWY E - TACOMA, WA 984223911253-874-7811skylinemailcarriers.comLinkedIn51-200 employeestransportation/trucking/railroad

Prospect flagsLow returnsHigh feesHigh cashLow participationLow fidelity bondFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$769K

+0.7% from 2019

Total participants

105

-6.3% from 2019

Average account balance

$25,645

+4.1% from 2019

Annual return

7.01%

-17.05 pp from 2019

Benchmarks

See 134 peers

Peer group

Industry49 - Transportation and Warehousing

Plan typeDefined contribution

Participants100-249

Cohort134 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.08M

Not enough data

1 years with asset history on file

Average account balance

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

$60K

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.

26.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$70K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+15.14%

Not enough data

1 years with return on file

Admin fee / account holder

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

$13124

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: GREAT WEST LIFE INSURANCE & ANNUITY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$6,340
RESOURCES INVESTMENT ADVISORS LLC2 years Filed as: RESOURCES INVESTMENT ADVISORS Service code 27	Advisory (Plan)	$4,281
PANAGIOTU PENSION ADVISORS, INC.2 years Filed as: PANAGIOTU PENSION ADVISORS LLC Service code 13	Contract Administrator	$623
PANAGIOTU PENSION ADVISORS, INC.4 years Service code 13 7350 CIRQUE DRIVE WEST SUITE 201 · UNIVERSITY PLACE, WA 98467	Contract Administrator	$475
DEFINITI LLC1 year Filed as: DEFINITI, LLC Service code 13	Contract Administrator	$116

Plan features & details

Pension benefit codes2E2J2K2F2G3D3H2A2T

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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

7 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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
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).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$10K

$102 / participant

Other / not subdivided$10K100.0%

% of EOY assets

1.364%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BPM LLP
Auditor EIN: 814234542
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$25,645

$38,075-32.6%

$93,515-72.6%

$73,497-65.1%

Participation rate

27.2%

56.7%-29.5pp

66.8%-39.6pp

70.7%-43.5pp

Annual return

7.01%

17.59%-10.6pp

78.21%-71.2pp

28.51%-21.5pp

Employer contribution / active EE

$1,117-100.0%

$2,077-100.0%

$2,270-100.0%

Participant deferral / active EE

$862

$2,012-57.1%

$3,129-72.4%

$3,740-76.9%

Admin fee / account holder

$350

$351-0.4%

$5,235-93.3%

$513-31.8%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: GREAT WEST LIFE INSURANCE & ANNUITY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$6,340

RESOURCES INVESTMENT ADVISORS LLC2 years

Filed as: RESOURCES INVESTMENT ADVISORS

Service code 27

Advisory (Plan)

$4,281

PANAGIOTU PENSION ADVISORS, INC.2 years

Filed as: PANAGIOTU PENSION ADVISORS LLC

Service code 13

Contract Administrator

$623

PANAGIOTU PENSION ADVISORS, INC.4 years

Service code 13

7350 CIRQUE DRIVE WEST SUITE 201 · UNIVERSITY PLACE, WA 98467

Contract Administrator

$475

DEFINITI LLC1 year

Filed as: DEFINITI, LLC

Service code 13

Contract Administrator

$116

SKYLINE MAIL CARRIERS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SKYLINE MAIL CARRIERS, INC. 401(K) 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