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Retirement plan

THE FINWAY GROUP, LLC CASH BALANCE PLAN

THE FINWAY GROUP, LLCEIN 42-1468222Plan #002PY 2022
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5625 MILLS CIVIC PARKWAY, SUITE 101 - W. DES MOINES, IA 50266515-226-0974finwaygroup.comLinkedIn1-10 employeesfinancial services
Other plans on this EIN
5 filings
#001Retirement-$710K assets#010Retirement-$60K assets#011Retirement--#012Retirement--#013Retirement--
Prospect flagsLow returns

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(515) 226-0974
How to read this page

Summary metrics

Total assets (EOY)
$602K
-56.4% from 2020
Total participants
9
-28.6% from 2020
Average account balance
$0
No prior year
Annual return
-17.37%
-14.72 pp from 2020

Benchmarks

See 7,721 peers
Peer group
Industry54 - Professional, Scientific, and Technical Services
Plan typeDefined benefit
Participants<25
Cohort7,721 peers
Snapshot2022
Participant deferral / active EE
$0
median $0
Employer contribution / active EE
$20,466
median $33,333
Participation rate
0.0%
median 100.0%
Avg account balance
$0
median $172,332
Admin fee / account holder
$0
median $271
Annual return
-17.37%
median -10.69%
Overall peer rank
22nd percentileavg across 6 metrics

Analytics

2019 - 2024
Total assets (EOY)
Plan-year ending balance
$1.21M
Average account balance
Total assets / participants with a balance (line 6g)
$151K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
Not enough data
0 years with headcount on file
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
$200K
Contributions per participant
Average employer and participant contribution per enrolled participant
$25K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+17.75%
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
Not enough data
0 years with F_SCH_H allocation on file

Service providers

Providers data not reported
Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Enrolled actuary

1 attachment
SB

ANDREW C. FORGRAVE

PINNACLE PLAN DESIGN, LLC
Enrollment #2007226
1985 E. RIVER RD., STE 111
TUCSON, AS 857284130
(520) 618-1305
Signed 2023-04-21

Plan features & details

Pension benefit codes1C
Plan features
  • 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).

Opportunity flags

1 tripped
  • OpportunityLow returns

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

Expense breakdown

Schedule H Part II
Admin total
$6K
$720 / participant
  • Other / not subdivided$6K100.0%
% of EOY assets
1.077%
all-in expense ratio
Categories reported
0 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
No opinion code on file for this filing.
Auditor firm
(not reported)
Auditor EIN
-
Audit fees
(not subdivided)
Opinion code
-