Retirement plan
TFP RETIREMENT PEP
THE FINWAY GROUPEIN 42-1468222Plan #014PY 2023
5625 MILLS CIVIC PARKWAY, SUITE 101 - WEST DES MOINES, IA 50023515-226-0974finwaygroup.comLinkedIn1-10 employeesfinancial services
Other plans on this EIN
10 filingsProspect flagsFailed to transmit contributions
Filing contacts
From the Form 5500, federal recordSummary metrics
Total assets (EOY)
$12.7M
-19.7% from 2024
Total participants
222
-11.6% from 2024
Average account balance
$59,581
-9.5% from 2024
Annual return
0.00%
-16.33 pp from 2024
Benchmarks
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants100-249
Cohort5,701 peers
Snapshot2023
67
Participant deferral / active EE
$3,307
median $2,024
62
Employer contribution / active EE
$1,911
median $1,102
80
Participation rate
94.3%
median 66.7%
78
Avg account balance
$59,581
median $30,609
66
Admin fee / account holder
$106
median $210
0
Annual return
0.00%
median 16.83%
Overall peer rank
71of 100
71st percentileavg across 6 metrics
Analytics
Less than 3 years of history available for this plan
We'll show a chart here once at least 3 consecutive filings are on record.
Service providers
Top 2 by compensation
| Provider | Service type | Compensation |
|---|---|---|
THE FINWAY GROUP, LLC1+ years Service code 13 5625 MILLS CIVIC PAKWAY · WEST DES MOINES, IA 50266 | Contract Administrator | $13,434 |
THE HAYS FINANCIAL GROUP1+ years Service code 27 80 S 8TH ST · MINNEAPOLIS, MN 55402 | Advisory (Plan) | $12,399 |
Reportable transactions (Schedule G)
4 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 3 Non-exempt transaction | SPENSER RICHLIN | EMPLOYEE EXCESS CONTRIBUTIONS | — | $12K |
| Part 3 Non-exempt transaction | ANTHONY PORTO | EMPLOYEE EXCESS CONTRIBUTIONS | — | $1K |
| Part 3 Non-exempt transaction | VARIOUS EMPLOYEES | EMPLOYEES INELIGIBLE CONTRIBUTIONS | — | $8K |
| Part 3 Non-exempt transaction | VARIOUS EMPLOYEES | EMPLOYEES MISSING CONTRIBUTIONS | — | $10K |
Plan features & details
Pension benefit codes2A2E2J2K2F2G3D
Plan features
- 2AAge/service weighted or new comparability planAge/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).
- 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.
- 3DPre-approved pension planA master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
Opportunity flags
1 tripped
- ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Expense breakdown
Schedule H Part II
Admin total
$23K
$143 / participant
- Contract admin$23K100.0%
% of EOY assets
0.179%
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
- SKIBBIE CPA, INC.
- Auditor EIN
- 270851321
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified