PlanOptica
Retirement plan

NOKIA RETIREMENT INCOME PLAN

NOKIA OF AMERICA CORPORATIONEIN 22-3408857Plan #001PY 2023
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600 MOUNTAIN AVENUE, ROOM 6D-401A - MURRAY HILL, NJ 07974908-723-9869LinkedIn1-10 employees
Other plans on this EIN
2 filings
#003Retirement-$9.08B assets#002Retirement-$4.25B assets
Prospect flagsHigh retiree %Low returnsWind-down / frozen

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(908) 723-9869
Plan administrator signer
SUSAN LEAR
Signed 09/27/2024
How to read this page

Summary metrics

Total assets (EOY)
$13864.9M
-0.9% from 2016
Total participants
86,410
+4.1% from 2016
Average account balance
$0
No prior year
Annual return
3.62%
+4.54 pp from 2016

Benchmarks

See 177 peers
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants5,000-9,999
Cohort177 peers
Snapshot2023
Participant deferral / active EE
$0
median $40
Employer contribution / active EE
$0
median $5,730
Participation rate
0.0%
median 0.0%
Avg account balance
$0
Admin fee / account holder
$0
Annual return
3.62%
median 9.38%
Overall peer rank
17th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$12.86B
Average account balance
Total assets / participants with a balance (line 6g)
$158K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
74,818
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
0.0%
Contributions (total)
Employer and participant dollars contributed each year
Not enough data
0 years with contributions on file
Contributions per participant
Average employer and participant contribution per enrolled participant
Not enough data
0 years with per-participant contribution data
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+0.46%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$0
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 10 by compensation
ProviderService typeCompensation
ALIGHT SOLUTIONS LLC7 years
Service code 15 · EIN 82-1061233
Recordkeeping
$4,232,101
AON CONSULTING, INC.9+ years
Service code 11 · EIN 22-2232264
Actuarial
$604,302
NOKIA OF AMERICA CORPORATION7 years
Service code 35 · EIN 22-3408857
Non-monetary compensation; Direct pay...
$369,695
DAY PITNEY5 years
Service code 29 · EIN 22-1661404
Legal
$244,116
DELOITTE & TOUCHE LLP2 years
Service code 10 · EIN 13-3891517
Accounting
$229,200
CANDID LITHO9+ years
Service code 36 · EIN 13-3574319
Direct payment from the plan; Copying...
$33,619
UNIVERSAL MAILING SERVICE9+ years
Service code 38 · EIN 22-2381663
Participant Communication
$32,613
SEYFARTH SHAW9+ years
Service code 29 · EIN 36-2152202
Legal
$24,727
BROAD DATA SYSTEMS INC6 years
Service code 50 · EIN 22-1990596
Direct Payment
$23,414
CURCIO WEBB6 years
Service code 16 · EIN 36-4171366
Consulting
$6,209

Enrolled actuary

1 attachment
SB

MELISSA PANE

AON CONSULTING, INC.
Enrollment #2308587
MSC# 17741 P.O. BOX 6718
SOMERSET, NJ 08875
(973) 463-6165
Signed 2024-08-23

Top hat statement on fileNQDC

Filed November 17, 2017 (most recent of 3 filings on file)

Open the filing PDF

Plan features & details

Pension benefit codes1A1C1E3F3H
Plan features
  • 1A
    Benefits are primarily pay related
    Benefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
  • 1C
    Cash balance or similar plan
    A cash balance formula in a defined benefit plan that expresses the accrued benefit in terms more common to a defined contribution plan such as a hypothetical account balance or single sum amount (includes personal account plan pension equity plan life cycle plan and cash account plan).
  • 1E
    Section 401(h) arrangement
    Plan contains separate accounts under Code section 401(h) to provide employee health benefits.
  • 3F
    Leased employees
    Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
  • 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

3 tripped
  • OpportunityLow returns

    Annual investment return is in the bottom quintile of the peer cohort.

  • InformationalHigh retiree %

    Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

  • InformationalWind-down / frozen

    Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.

Expense breakdown

Schedule H Part II
Admin total
$14.5M
$1986 / participant
  • Recordkeeping$4M29.3%
  • Trustee / custodial$604K4.2%
  • Legal$269K1.9%
  • Salaries / allowances$370K2.6%
  • Other / not subdivided$9M62.1%
% of EOY assets
0.104%
all-in expense ratio
Categories reported
4 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
DELOITTE & TOUCHE LLP
Auditor EIN
133891517
Audit fees
$229,000
Opinion code
Unqualified