Retirement plan
NOKIA SAVINGS/401(K) PLAN
NOKIA OF AMERICA CORPORATIONEIN 22-3408857Plan #003PY 2018
Other plans on this EIN
3 filingsProspect flagsLow returnsLow employer contribution
Filing contacts
From the Form 5500, federal recordPlan administrator signer
ROBIN WARD
Signed 08/28/2019
Summary metrics
Total assets (EOY)
$7576.2M
-13.5% from 2016
Total participants
32,460
-4.8% from 2016
Average account balance
$236,823
-9.0% from 2016
Annual return
-6.41%
-20.87 pp from 2016
Benchmarks
Peer group
Industry33 - Manufacturing
Plan typeDefined contribution
Participants5,000-9,999
Cohort119 peers
Snapshot2018
94
Participant deferral / active EE
$13,494
median $5,023
0
Employer contribution / active EE
$85
median $2,770
62
Participation rate
95.2%
median 93.4%
97
Avg account balance
$236,823
median $86,820
42
Admin fee / account holder
$73
median $61
15
Annual return
-6.41%
median -4.56%
Overall peer rank
52of 100
52nd percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$9.83B
Average account balance
Total assets / participants with a balance (line 6g)
$403K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
24,381
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
92.1%
Contributions (total)
Employer and participant dollars contributed each year
$107.34M
Contributions per participant
Average employer and participant contribution per enrolled participant
$17K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+15.96%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$95
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 10 of 29 by compensation
| Provider | Service type | Compensation |
|---|---|---|
Service code 28 · EIN 04-2683277 | Investment Management | $3,591,844 |
Service code 26 · EIN 82-1061233 | Advisory (Participants) | $2,916,175 |
T. ROWE PRICE TRUST COMPANY4+ years Service code 28 · EIN 52-1309931 | Investment Management | $1,835,356 |
Service code 28 · EIN 04-3247425 | Investment Management | $1,514,063 |
Service code 28 · EIN 22-2774695 | Investment Management | $1,402,564 |
ALIGHT SOLUTIONS LLC2 years Service code 12 · EIN 82-1061233 | Direct payment from the plan; Claims ... | $1,229,686 |
Service code 28 · EIN 94-3385113 | Investment Management | $1,220,018 |
AQR CAPITAL MANAGEMENT, LLC3 years Service code 28 · EIN 13-3987414 | Investment Management | $1,150,009 |
Service code 28 · EIN 13-3806691 | Investment Management | $1,024,745 |
ARONSON JOHNSON ORTIZ,LP4+ years Service code 28 · EIN 23-2312104 | Investment Management | $1,017,724 |
Reportable transactions (Schedule G)
3 rows
Counterparties on defaulted loans (Part 1), defaulted leases (Part 2), and non-exempt prohibited transactions (Part 3). Presence of any row warrants fiduciary review.
| Category | Counterparty | Relationship / Terms | Address | Amount |
|---|---|---|---|---|
| Part 1 Loan in default | 1839688 ALBERTA ULC | — | — | — |
| Part 1 Loan in default | IHEARTCOMMUNICATIONS INC. | — | — | — |
| Part 1 Loan in default | IHEARTCOMMUNICATIONS INC. | — | — | — |
Top hat statement on fileNQDC
Filed November 17, 2017 (most recent of 3 filings on file)
Plan features & details
Pension benefit codes2E2F2G2J2K2R3F3H
Plan features
- 2EProfit-sharingProfit-sharing plan.
- 2FERISA section 404(c) planThis plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
- 2GTotal participant-directed account planParticipants 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.
- 2JCode section 401(k) featureCash 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.
- 2KCode section 401(m) arrangementEmployee 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.
- 2RParticipant-directed brokerage accountsParticipant-directed brokerage accounts provided as an investment option under the plan.
- 3FLeased employeesPlan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
2 tripped
- OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
- OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
Expense breakdown
Schedule H Part II
Admin total
$2.3M
$236 / participant
- Other / not subdivided$2M100.0%
% of EOY assets
0.031%
all-in expense ratio
Categories reported
0 / 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 LLP
- Auditor EIN
- 134008324
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified