Retirement plan

INNOVATE!, INC. RETIREMENT TRUST

Name: INNOVATE, INC. - INNOVATE!, INC. RETIREMENT TRUST (2021) Form 5500
Creator: INNOVATE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INNOVATE!, INC. RETIREMENT TRUST, INNOVATE, INC.

INNOVATE, INC.EIN 01-0700529Plan #001PY 2021

6189 COBBS ROAD - ALEXANDRIA, VA 223101612703-922-9090innovateteam.comLinkedIn51-200 employeesinformation technology and services

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$10.9M

+18.5% from 2020

Total participants

141

-1.4% from 2020

Average account balance

$87,533

+17.5% from 2020

Annual return

15.47%

+0.37 pp from 2020

Benchmarks

See 5,714 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,714 peers

Snapshot2021

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$12.52M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$98K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

128

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

98.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$957K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+12.18%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$469

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 3 by compensation

Provider	Service type	Compensation
PURSHE KAPLAN STERLING INV6 years Filed as: PURSHE KAPLAN STERLING INVESTMENTS Service code 49 · EIN 13-3749682	Other Services	$31,723
PRINCIPAL LIFE INSURANCE COMPANY6 years Service code 13 · EIN 42-0127290	Contract Administrator	$2,160
WILSHIRE ASSOCIATES INCORPORATED6 years Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

Plan features

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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
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

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

$2K

$20 / participant

Contract admin$2K100.0%

% of EOY assets

0.020%

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: REGAN SCHICKNER HARPER LLC
Auditor EIN: 462374336
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$87,533

$104,497-16.2%

$159,487-45.1%

$79,389+10.3%

Participation rate

84.1%

76.6%+7.5pp

82.8%+1.3pp

70.7%+13.4pp

Annual return

15.47%

67.98%-52.5pp

263.71%-248.2pp

116.89%-101.4pp

Employer contribution / active EE

$3,215

$3,418-5.9%

$4,831-33.4%

$2,428+32.4%

Participant deferral / active EE

$7,145

$6,468+10.5%

$7,354-2.8%

$4,046+76.6%

Admin fee / account holder

$17

$711-97.6%

$10,804-99.8%

$626-97.2%

Provider

Service type

Compensation

PURSHE KAPLAN STERLING INV6 years

Filed as: PURSHE KAPLAN STERLING INVESTMENTS

Service code 49 · EIN 13-3749682

Other Services

$31,723

PRINCIPAL LIFE INSURANCE COMPANY6 years

Service code 13 · EIN 42-0127290

Contract Administrator

$2,160

WILSHIRE ASSOCIATES INCORPORATED6 years

Service code 27 · EIN 95-2755361

Advisory (Plan)

INNOVATE!, INC. RETIREMENT TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INNOVATE!, INC. RETIREMENT TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion