PlanOptica
Retirement plan

MAI EPIC RETIREMENT PLAN

THE FINWAY GROUP, LLCEIN 42-1468222Plan #018PY 2024
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5625 MILLS CIVIC PARKWAY, SUITE 101 - WEST DES MOINES, 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#011Retirement-$24.8M assets#020Retirement-$23.9M assets#015Retirement-$20.3M assets#014Retirement-$15.8M assets#012Retirement-$12.6M assets#017Retirement-$9.8M assets
Prospect flagsHigh feesLow participationLow assets / participantLow employer contributionLow participant contributionRecently reached 100 employees

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)
$30.7M
-85.4% from 2024
Total participants
1,910
-95.5% from 2024
Average account balance
$36,922
+78.2% from 2024
Annual return
521.28%
-521.28 pp from 2024

Benchmarks

See 609 peers
Peer group
Industry52 - Finance and Insurance
Plan typeDefined contribution
Participants1,000-4,999
Cohort609 peers
Snapshot2024
Participant deferral / active EE
$2,291
median $7,298
Employer contribution / active EE
$736
median $3,646
Participation rate
42.4%
median 95.6%
Avg account balance
$36,922
median $101,383
Admin fee / account holder
$3,630
median $91
Annual return
521.28%
median 15.84%
Overall peer rank
23rd 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

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.

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

6 tripped
  • OpportunityLow participation

    Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

  • OpportunityLow participant contribution

    Participant contribution per participant is in the bottom quintile of the peer cohort.

  • OpportunityLow employer contribution

    Employer contribution per participant is in the bottom quintile of the peer cohort.

  • OpportunityHigh fees

    Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

  • OpportunityLow assets / participant

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

  • InformationalRecently reached 100 employees

    Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II
Admin total
$3.0M
$1610 / participant
  • Other / not subdivided$3M100.0%
% of EOY assets
9.831%
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
-