PlanOptica
Retirement plan

RETIREMINT PEP

THE FINWAY GROUP, LLCEIN 42-1468222Plan #012PY 2024
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5625 MILLS CIVIC PARKWAY, SUITE 101 - WEST DES MOINE, IA 50266515-226-0974finwaygroup.comLinkedIn1-10 employeesfinancial services
Other plans on this EIN
10 filings
#010Retirement-$146.2M assets#016Retirement-$132.2M assets#023Retirement-$41.2M assets#022Retirement-$35.1M assets#018Retirement-$30.7M assets#011Retirement-$24.8M assets#020Retirement-$23.9M assets#015Retirement-$20.3M assets#014Retirement-$15.8M assets#017Retirement-$9.8M assets
Prospect flagsLow returnsLow assets / participantLow participant contribution

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)
$12.6M
-100.0% from 2023
Total participants
954
-100.0% from 2023
Average account balance
$16,650
-100.0% from 2023
Annual return
13.34%
0.00 pp from 2023

Benchmarks

See 3,296 peers
Peer group
Industry54 - Professional, Scientific, and Technical Services
Plan typeDefined contribution
Participants250-999
Cohort3,296 peers
Snapshot2024
Participant deferral / active EE
$2,948
median $7,980
Employer contribution / active EE
$1,096
median $2,901
Participation rate
77.5%
median 89.4%
Avg account balance
$16,650
median $76,495
Admin fee / account holder
$182
median $157
Annual return
13.34%
median 16.49%
Overall peer rank
23rd percentileavg across 6 metrics

Analytics

2022 - 2024
Total assets (EOY)
Plan-year ending balance
$12.64M
Average account balance
Total assets / participants with a balance (line 6g)
$17K
Not enough data
2 years with per-participant data
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
759
Not enough data
2 years with headcount on file
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
77.5%
Not enough data
2 years with eligibility data
Contributions (total)
Employer and participant dollars contributed each year
$3.51M
Not enough data
2 years with contributions on file
Contributions per participant
Average employer and participant contribution per enrolled participant
$4K
Not enough data
2 years with per-participant contribution data
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+13.34%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$182
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
Not enough data
1 years with F_SCH_H allocation on file

Service providers

Top 3 by compensation
ProviderService typeCompensation
THE FINWAY GROUP, LLC1 year
Service code 13 · EIN 42-1468222
Contract Administrator
$93,608
GREENLINE WEALTH MANAGEMENT1 year
Service code 27
2255 GLADES RD · BOCA RATON, FL 33431
Advisory (Plan)
$87,309
COTA STREET INVESTMENT MANAGEMENT1 year
Service code 28
24 E. COTA STREET · SANTA BARBARA, CA 93101
Investment Management
$6,398

Plan features & details

Pension benefit codes2A2E2J2K2F2G3D2W
Plan features
  • 2A
    Age/service weighted or new comparability plan
    Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
  • 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.
  • 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

3 tripped
  • OpportunityLow participant contribution

    Participant 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.

  • OpportunityLow assets / participant

    Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II
Admin total
$138K
$159 / participant
  • Contract admin$138K100.0%
% of EOY assets
1.095%
all-in expense ratio
Categories reported
1 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
BDO USA, P.C.
Auditor EIN
135381590
Audit fees
(not subdivided)
Opinion code
Unqualified