Plans » Benchmarking Engine
Benchmarking Falcon Drilling Co LLC 401(K) Profit Sharing Plan and Trust in Carnegie, PA against
good (2)
neutral (1)
Of the 58 plans whose industry group is Oil and Gas Extraction, Falcon Drilling Co LLC 401(K) Profit Sharing Plan and Trust in Carnegie, PA is one of just 4 that are better than the overall plan medians in each of total income, net income, participant loans as a percentage of plan assets, and diversity of asset types (4 total).
Falcon Drilling Co LLC 401(K) Profit Sharing Plan and Trust has these standings among those 58 peer plans plus nationwide comparisons:
Falcon Drilling Co LLC 401(K) Profit Sharing Plan and Trust has these standings among those 58 peer plans plus nationwide comparisons:
- total income = -$33,055 (22nd-lowest)
the nationwide median is -$138,445 - net income = -$293,179 (29th-highest)
the nationwide median is -$540,049 - participant loans as a percentage of plan assets = 0.00% (the least, tied)
the nationwide median is 1.03% - corrective distributions = $0 (the lowest, tied)
the nationwide median is $0 - yield on beginning-of-plan-year total assets = -18.27% (15th-lowest)
the nationwide median is -16.79% - diversity of asset types = 19.9% (3rd-highest)
the nationwide median is 8.1%
- are better than the overall plan medians in. Bigger sets are better. (1) The median nationwide value of total liabilities is $0.00, so better is below that. At end of plan year. Liabilities entered here do not include the value of future pension payments to plan participants. Line 1k from Schedule H. (2) The median nationwide value of total income is -$138,445, so better is above that. From Line 2d, Schedule H. (3) The median nationwide value of net income is -$540,049, so better is above that. Net income, Line 2k from Schedule H, equals total income (Line 2d) minus total expenses (Line 2j), all from Schedule H. (4) The median nationwide value of participant loans as a percentage of plan assets is 1.03%, so better is below that. Participant loans as a percentage of plan assets equals participant loans, Line 1c(8) from Schedule H, divided by total assets, Line 1f(b) from Schedule H, times 100. A high value may indicate excessive borrowing from participants' retirement accounts. (5) The median nationwide value of corrective distributions is $0.00, so better is below that. From Line 2f, Schedule H, but negative entries are converted into positive. Included on this line are all distributions paid during the plan year of excess deferrals under Code section 402(g)(2)(A)(ii), excess contributions under Code section 401(k)(8), and excess aggregate contributions under Code section 401(m)(6). Included is allocable income distributed. Also included on this line are any elective deferrals and employee contributions distributed or returned to employees during the plan year, as well as any attributable income that was also distributed. (6) The median nationwide value of yield on beginning-of-plan-year total assets is -16.79%, so better is above that. To qualify, the total assets at the beginning of the plan year must be above zero, and either (1) both the asset transfers to the plan and asset transfers from the plan during the plan year must be zero, or (2) the sum of the absolute values of both asset transfers must be less than 1% of the total assets at the beginning of the plan year. If it qualifies, the yield on beginning-of-plan-year total assets (as a percentage) equals net earnings on investments divided by total assets at the beginning of the plan year, times 100. The above quantities are all from Schedule H: Assets transfer to the plan is Line 2l(1). Assets transfer from the plan is Line 2l(2). Net earnings on investments is the sum of the ten column (b) entries from 2b, minus investment advisory and management fees (Line 2i(3)). Total assets at the beginning of the plan year is Line 1f(a). (7) The median nationwide value of diversity of asset types is 8.1%, so better is above that. The diversity of asset types is calculated by taking the mathematical entropy of the 24 dollar values for the 24 asset types, after excluding negative asset values, then dividing by 4.584962 (which is the maximum possible entropy of 24 numeric quantities), and multiplying by 100 to obtain a percentage whose potential range is 0% to 100%. Mathematical entropy is a way to measure the balance among a group of numeric values; maximum entropy is when all the values are equal and nonzero. Some comparison measures have prerequisites that must be satisfied in order to keep their numeric values, otherwise their value becomes N/A. Except where noted, all data come from the 25-July-2024 updates to the year-2022 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
- whose industry group is. The industry group is the first four digits from the six-digit NAICS business code, Line 2d in Form 5500, which best describes the nature of the plan sponsor’s business, from the available list. If more than one employer or employee organization is involved, filers are asked to enter the business code for the main business activity of the employer and/or employee organizations. Except where noted, all data come from the 25-July-2024 updates to the year-2022 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
Falcon Drilling Co LLC 401(K) Profit Sharing Plan and Trust in Carnegie, PA is in Pennsylvania, its EIN is 251885639, its industry group is Oil and Gas Extraction, its plan administrator is Daniel C Donahue, is a profit-sharing plan, covered by a fidelity bond, an ERISA section 404(c) plan, self-administered by the plan sponsor, is a single-employer plan, its business code is 211130, has 100 to 499 total participants, is better than the overall plan medians in each of total income, net income, participant loans as a percentage of plan assets, and diversity of asset types (4 total), is worse than the overall participant averages in each of average account balance, active-participant contributions per head, and employer contributions per active participant, and is higher than the overall administrative medians in each of professional fees, investment advisory and management fees, total administrative expenses, and total administrative expense ratio.
Global References
Numeric values:
- total assets at beginning of plan year ($2,878,345)
- net assets (assets minus liabilities) ($2.60M)
- total assets ($2,585,166)
- value of interest in registered investment companies (e.g., mutual funds) ($1.80M)
- value of interest in common/collective trusts ($767,238)
- total contributions ($480,016)
- cash contributions from participants ($275,477)
- total expenses ($260,124)
- cash contributions from employers ($200,291)
- total administrative expenses ($27,024)
- professional fees ($14,300)
- investment advisory and management fees ($12,724)
- average account balance ($11,095)
- other receivables (not employer nor participant contributions) ($4,248)
- average employer+participant cash contribution per active participant ($3,089)
- receivables participant contributions ($2,729)
- receivables employer contributions ($1,951)
- average participant cash contribution per active participant ($1,789)
- average employer cash contribution per active participant ($1,301)
- total administrative expense per participant ($115.98)
- total noninterest-bearing cash ($0)
- interest-bearing cash (e.g., money market accounts, certificates of deposit) ($0)
- U.S. government securities ($0.0K)
- corporate debt instruments (preferred & other than employer securities) ($0)
- corporate debt instruments (below preferred & other than employer securities) ($0)
- corporate preferred stocks (other than employer securities) ($0)
- corporate common stocks (other than employer securities) ($0)
- partnership/joint venture interests ($0)
- real estate (other than employer real property) ($0)
- loans (other than to participants) ($0)
- participant loans ($0)
- value of interest in pooled separate accounts ($0)
- value of interest in master trust investment accounts ($0.0K)
- value of interest in 103-12 investment entities ($0)
- value of funds held in insurance company general account (unallocated contracts) ($0)
- other general investments ($0)
- employer-related securities investments ($0)
- employer-related real-property investments ($0)
- buildings and other property used in plan operation ($0)
- corrective distributions ($0)
- contract administrator fees ($0)
- other administrative expenses ($0)
- asset transfers to the plan ($0)
- asset transfers from the plan ($0)
- net income per total participant (-$1,258)
- total income (-$33,055)
- net income (-$293,179)
- earnings on investments (-$513,071)
- net earnings on investments (-$525,795)
- percentage of active participants (66.1%)
- diversity of asset types (19.9%)
- total administrative expense ratio (1.045%)
- participant loans as a percentage of plan assets (0.00%)
- total cash as a percentage of plan assets (0.00%)
- employer securities as a percentage of plan assets (0.00%)
- growth in total assets during the plan year (-10.2%)
- yield on beginning-of-plan-year total assets (-18.27%)
- active participants (154)
- deceased participants whose beneficiaries receive or are entitled to benefits (0)
- living participants (233)
- other retired or separated participants entitled to future benefits (79)
- retired or separated participants receiving benefits (0)
- total participants (233)
Global References