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Retirement plan

FIDELITY ADVANTAGE 401(K)

FIDELITY WORKPLACE SERVICES LLCEIN 04-3532603Plan #001PY 2023
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88 BLACK FALCON AVENUE, SUITE 167 - BOSTON, MA 02110800-835-5097
Other plans on this EIN
1 filing
#002Retirement-$28.65B assets
Prospect flagsLow participationLow assets / participantLow employer contributionLow participant contributionFailed to transmit contributionsCorrective distributions

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(800) 835-5097
Plan administrator signer
JEAN MOLONEY
Signed 10/11/2024
How to read this page

Summary metrics

Total assets (EOY)
$84.7M
-82.1% from 2022
Total participants
9,732
-73.8% from 2022
Average account balance
$16,572
-28.6% from 2022
Annual return
66.70%
-35.40 pp from 2022

Benchmarks

See 94 peers
Peer group
Industry52 - Finance and Insurance
Plan typeDefined contribution
Participants5,000-9,999
Cohort94 peers
Snapshot2023
Participant deferral / active EE
$3,568
median $7,337
Employer contribution / active EE
$1,574
median $4,522
Participation rate
48.4%
median 97.2%
Avg account balance
$16,572
median $112,374
Admin fee / account holder
$127
median $65
Annual return
66.70%
median 19.39%
Overall peer rank
22nd percentileavg across 6 metrics

Analytics

2021 - 2024
Total assets (EOY)
Plan-year ending balance
$184.57M
Average account balance
Total assets / participants with a balance (line 6g)
$22K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
8,425
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
52.7%
Contributions (total)
Employer and participant dollars contributed each year
$78.92M
Contributions per participant
Average employer and participant contribution per enrolled participant
$6K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+41.71%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$154
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 1 by compensation
ProviderService typeCompensation
FIDELITY WORKPLACE SERVICES2 years
Service code 14 · EIN 04-3532603
Plan Administrator
$646,982

Plan features & details

Pension benefit codes2J2K2T2E2F2G2W3D
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.

Opportunity flags

6 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 employer contribution

    Employer 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.

  • 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
$647K
$72 / participant
  • Recordkeeping$44K6.8%
  • Contract admin$603K93.2%
% of EOY assets
0.763%
all-in expense ratio
Categories reported
2 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
PRICEWATERHOUSE COOPERS
Auditor EIN
134008324
Audit fees
$0
Opinion code
Unqualified