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Filing

Sevan Multi-Site Solutions Inc. 401(K) Plan

Sevan Multi-Site Solutions Inc. • EIN 27-5107237 • Plan year 2023

Company ProfileSource Archive
Filing Insights

Participants

Down

503 → 449

-54 • -10.74%

Assets

Up

$23,472,330 → $30,631,866

$7,159,536 • 30.50%

Investment Management Fee

0.28%

$76,763

Admin expenses $76,763 • Total expenses $2,823,051

Filing Details

Context
Net investment result
$7,159,536
Accountant opinion
Unqualified opinion
Pension payor EIN
94-1687665

Status Flags

Fidelity bond in place

Yes

Limited-scope audit performed

Yes

Contributions transmitted on time

No

Participant loans in default

No

Leases in default

No

Reportable party-in-interest issues

No

Loss discovered during year

No

Assets with undetermined value

No

Non-cash contributions

No

Assets held for investment

Yes

5% transactions reported

No

All plan assets distributed

No

Benefits paid when due

No

Plan blackout period

No

Plan termination resolution adopted

No

Counterparties
Known direct compensation$76,7630.28%
ProviderServicesLocationDirect CompensationRelated
MERRILL LYNCH, PIERCE, FENNER AND SEIN 13-5674085Contract administration, Service code 59, Service code 60, Service code 62, Service code 72-$76,7630.28%Merrill Lynch Pierce Fenner & Smith Inc.
WIPFLI LLPEIN 39-0758449Accountant, Unqualified opinion--Wipfli Ullrich Bertelson LLP

Company Timeline

This filing is highlighted inside the broader sponsor history.

Year / FilingFilingsParticipantsAssetsContributionsContrib./Participant
20242343$33,936,931$4,652,860$13,565iApproximate average salary by contribution assumption: employee only about $339,130 at 4% or $226,086 at 6%; with 50% employer match about $226,086 at 4% or $150,724 at 6%; with 100% employer match about $169,565 at 4% or $113,043 at 6%.
Sevan Multi-Site Solutions Inc. 401(K) Plan-312$33,936,931$4,652,860$14,913iApproximate average salary by contribution assumption: employee only about $372,825 at 4% or $248,550 at 6%; with 50% employer match about $248,550 at 4% or $165,700 at 6%; with 100% employer match about $186,413 at 4% or $124,275 at 6%.
Sevan Multi-Site Solutions Inc. Health and Welfare Benefit Plan-343---
20232457$30,631,866$5,464,340$11,957iApproximate average salary by contribution assumption: employee only about $298,925 at 4% or $199,283 at 6%; with 50% employer match about $199,283 at 4% or $132,855 at 6%; with 100% employer match about $149,462 at 4% or $99,642 at 6%.
Sevan Multi-Site Solutions Inc. 401(K) PlanCurrent449$30,631,866$5,464,340$12,170iApproximate average salary by contribution assumption: employee only about $304,251 at 4% or $202,834 at 6%; with 50% employer match about $202,834 at 4% or $135,222 at 6%; with 100% employer match about $152,125 at 4% or $101,417 at 6%.
Sevan Multi-Site Solutions Inc. Health and Welfare Benefit Plan-457---
20222405$23,472,330$4,868,050$12,020iApproximate average salary by contribution assumption: employee only about $300,497 at 4% or $200,331 at 6%; with 50% employer match about $200,331 at 4% or $133,554 at 6%; with 100% employer match about $150,248 at 4% or $100,166 at 6%.
Sevan Multi-Site Solutions Inc. 401(K) Plan-393$23,472,330$4,868,050$12,387iApproximate average salary by contribution assumption: employee only about $309,672 at 4% or $206,448 at 6%; with 50% employer match about $206,448 at 4% or $137,632 at 6%; with 100% employer match about $154,836 at 4% or $103,224 at 6%.
Sevan Multi-Site Solutions Inc. Health and Welfare Benefit Plan-405---
20212356$26,925,113$4,002,795$11,244iApproximate average salary by contribution assumption: employee only about $281,095 at 4% or $187,397 at 6%; with 50% employer match about $187,397 at 4% or $124,931 at 6%; with 100% employer match about $140,548 at 4% or $93,698 at 6%.
Sevan Multi-Site Solutions Inc. 401(K) Plan-341$26,925,113$4,002,795$11,738iApproximate average salary by contribution assumption: employee only about $293,460 at 4% or $195,640 at 6%; with 50% employer match about $195,640 at 4% or $130,427 at 6%; with 100% employer match about $146,730 at 4% or $97,820 at 6%.
Sevan Multi-Site Solutions Inc. Health and Welfare Benefit Plan-356---
20203361$22,293,880$1,757,117$4,867iApproximate average salary by contribution assumption: employee only about $121,684 at 4% or $81,123 at 6%; with 50% employer match about $81,123 at 4% or $54,082 at 6%; with 100% employer match about $60,842 at 4% or $40,561 at 6%.
Sevan Multi-Site Solutions Inc. 401(K) Plan-361$22,293,880$1,757,117$4,867iApproximate average salary by contribution assumption: employee only about $121,684 at 4% or $81,123 at 6%; with 50% employer match about $81,123 at 4% or $54,082 at 6%; with 100% employer match about $60,842 at 4% or $40,561 at 6%.
SEVAN MULTI-SITE SOLUTIONS, INC. BASIC LIFE AND AD&D PLAN-0---
SEVAN MULTI-SITE SOLUTIONS, INC. IDI PLAN-0---
20191366$0$0-
SEVAN MULTI-SITE SOLUTIONS, INC. BASIC LIFE AND AD&D PLAN-366---
Schedule Details

Schedule C

Schedule C Provider

MERRILL LYNCH, PIERCE, FENNER AND S

RECORDKEEPER • EIN 13-5674085

Direct compensation$76,763
Contract administrationService code 59Service code 60Service code 62Service code 72
Indirect compensationYes
Source fields
Row 1
Service code: Contract administration
Service code
Contract administration
Row 2
Service code: Service code 59
Service code
Service code 59
Row 3
Service code: Service code 60
Service code
Service code 60
Row 4
Service code: Service code 62
Service code
Service code 62
Row 5
Service code: Service code 72
Service code
Service code 72
MERRILL LYNCH, PIERCE, FENNER AND S
Other provider name
MERRILL LYNCH, PIERCE, FENNER AND S
Other provider EIN
13-5674085
Relationship to employer or plan
RECORDKEEPER
Direct compensation
$76,763
Indirect compensation reported
Yes
Provider Other Elig Indicator Comp Indicator
Yes
Provider Other Total Indicator Comp Amount
$0

Schedule C Provider

Provider 2

Provider details

Source fields
Row 7
Excluded provider reported
No

Schedule D

Row 1
DFE P1 Entity Name
PUTNAM STABLE VALUE FUND CLASS 20
DFE P1 Spons Name
PUTNAM FIDUCIARY TRUST COMPANY
DFE P1 Plan EIN
04-3159710
DFE P1 Plan Plan number
202
DFE P1 Entity Code
C
DFE P1 Plan Interest End of year Amount
$997,694
Row 2
Schedule D Plan Year Begin Date
2023-01-01
Schedule D Tax Period
2023-12-31
Schedule D Plan number
001
Schedule D EIN
27-5107237

Schedule H

Schedule H Financial Statement

Large plan result

Assets, contributions, fees, audit, and compliance fields reported for this large-plan filing.

End-of-year assets$30,631,866$7,159,536 change

Balance Sheet

Beginning and end of plan year.

Total assets$23,472,330$30,631,866Increase +$7,159,536 (30.50%)
Total liabilities$0$0No change $0
Net assets$23,472,330$30,631,866Increase +$7,159,536 (30.50%)

Contributions

Employer contributions$2,276,423
Participant contributions$2,589,144
Other contributions$598,773
Total contributions$5,464,340

Income & Investment Result

Total income$9,982,587
Interest$29,892
Dividends$817,545
Net income$7,159,536

Expenses & Fees

Benefits paid$2,746,149
Administrative expenses$76,763
Total expenses$2,823,051

Accountant

FirmWIPFLI LLP
Firm EIN39-0758449
OpinionUnqualified opinion
Limited auditYes

Compliance

Fidelity bondYes
Fidelity bond amount$500,000
Participant loans$572,472
Late contributionsNo
Schedule H source fields
Financial summary
Total assets at beginning of year: $23,472,330Total assets at end of year: $30,631,866Total liabilities at end of year: $0Net income or loss: $7,159,536
Schedule H Plan Year Begin Date
2023-01-01
Schedule H Tax Period
2023-12-31
Schedule H Plan number
001
Schedule H EIN
27-5107237
Non Interest Bear Cash Beginning of year Amount
$295
Employer Contribution Beginning of year Amount
$302,795
Other Receivables Beginning of year Amount
$0
Interest Bear Cash Beginning of year Amount
$52,472
Govt Sec Beginning of year Amount
$0
Corp Debt Preferred Beginning of year Amount
$0
Corp Debt Other Beginning of year Amount
$0
Pref Stock Beginning of year Amount
$0
Common Stock Beginning of year Amount
$0
Joint Venture Beginning of year Amount
$0
Real Estate Beginning of year Amount
$0
Other Loans Beginning of year Amount
$0
Participant loans at beginning of year
$485,732
Interest Common Tr Beginning of year Amount
$946,055
Interest in registered investment companies at beginning of year
$21,684,981
Oth Investment Beginning of year Amount
$0
Employer Sec Beginning of year Amount
$0
Total assets at beginning of year
$23,472,330
Total liabilities at beginning of year
$0
Net assets at beginning of year
$23,472,330
Non Interest Bear Cash End of year Amount
$295
Employer Contribution End of year Amount
$448,297
Other Receivables End of year Amount
$0
Interest Bear Cash End of year Amount
$23,296
Govt Sec End of year Amount
$0
Corp Debt Preferred End of year Amount
$0
Corp Debt Other End of year Amount
$0
Pref Stock End of year Amount
$0
Common Stock End of year Amount
$0
Joint Venture End of year Amount
$0
Real Estate End of year Amount
$0
Other Loans End of year Amount
$0
Participant loans at end of year
$572,472
Interest Common Tr End of year Amount
$997,694
Interest in registered investment companies at end of year
$28,589,812
Oth Investment End of year Amount
$0
Employer Sec End of year Amount
$0
Total assets at end of year
$30,631,866
Total liabilities at end of year
$0
Net assets at end of year
$30,631,866
Employer contributions
$2,276,423
Participant contributions
$2,589,144
Oth Contribution Rcvd Amount
$598,773
Non Cash Contribution Bs Amount
$0
Total contributions
$5,464,340
Interest Bear Cash Amount
$7
Interest On Govt Sec Amount
$0
Interest On Corp Debt Amount
$0
Interest on participant loans
$29,885
Interest On Oth Investment Amount
$0
Total interest income
$29,892
Divnd Pref Stock Amount
$0
Divnd Common Stock Amount
$0
Registered investment income
$817,545
Total dividend income
$817,545
Aggregate Proceeds Amount
$0
Aggregate Costs Amount
$0
Net gain or loss on sale of assets
$0
Unrealized Apprctn Oth Amount
$0
Net unrealized appreciation or depreciation
$0
Gain Loss Com Trust Amount
$0
Gain Loss Pool Sep Amount
$0
Gain or loss on registered investments
$3,670,045
Other Income Amount
$765
Total income
$9,982,587
Participant distributions
$2,746,149
Oth Bnft Payment Amount
$0
Total benefit distributions
$2,746,149
Total Corrective Distribution Amount
$139
Total Deemed Distr Part Lns Amount
$0
Total Interest Expense Amount
$0
Other Admin Fees Amount
$0
Total administrative expenses
$76,763
Total expenses
$2,823,051
Net income or loss
$7,159,536
Total Transfers To Amount
$0
Transfers from other plans
$0
Accountant opinion type
Unqualified opinion
Accountant firm name
WIPFLI LLP
Accountant firm EIN
39-0758449
Failed to transmit participant contributions on time
No
Participant loans in default
No
Leases in default
No
Nonexempt transactions with parties in interest
No
Fidelity bond in place
Yes
Fidelity bond amount
$500,000
Loss discovered during year
No
Assets with undetermined value
No
Non-cash contributions reported
No
Assets held for investment
Yes
Reportable 5% transactions
No
All plan assets distributed
No
Failed to provide benefits when due
No
Blackout period occurred
No
Resolution to terminate plan adopted
No
Limited-scope audit performed
Yes
Account Perf Limited Audit 103 12 Indicator
No
Account Perf Not Limited Audit Indicator
No
Oth Recordkeeping Fees Amount
$76,763

Schedule R

Schedule R Pension Information

Retirement plan characteristics

Testing, payor, opinion-letter, and transfer information reported with the filing.

Pension & Payor

Payor EIN94-1687665
Opinion letter date2020-06-30
Opinion letter serialQ702803A
401(k) current-year ADPNo

401(k) Testing

Satisfies coverage/nondiscrimination testsNo
Prior-year ADP testingNo
Design-based safe harborYes
401(k) not applicableNo

Transfers

Asset/liability transferNo
Liabilities in multiple plansNo
Distributed property value$0
Schedule R source fields
Payor 94-1687665
Schedule R Plan Year Begin Date
2023-01-01
Schedule R Tax Period
2023-12-31
Schedule R Plan number
001
Schedule R EIN
27-5107237
Pension Value Dstrb Pd Property Amount
$0
Pension payor EIN
94-1687665
Asset or liability transfer
No
Liability shared by multiple plans
No
Plan Satisfy Tests Indicator
No
Pension 401K Design Based Safe Indicator
Yes
Pension 401K Prior Year Adp Indicator
No
Pension 401K Current Year Adp Indicator
No
Pension 401K Na Indicator
No
Pension Change Prev Yr Indicator
No
Pension Change 2Nd Prev Yr Indicator
No
Pension Opin Letter Date
2020-06-30
Pension Opin Letter Serial Num
Q702803A

Filing received by DOL Oct 14, 2024

Sevan Multi-Site Solutions Inc. 401(K) Plan | Sevan Multi-Site Solutions Inc. | Plan 001 | 2023 Form 5500 Filing