Retirement plan

WORLDAPP INC 401(K) PROFIT SHARING PLAN & TRUST

Name: WORLDAPP INC - WORLDAPP INC 401(K) PROFIT SHARING PLAN & TRUST (2023) Form 5500
Creator: WORLDAPP INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WORLDAPP INC 401(K) PROFIT SHARING PLAN & TRUST, WORLDAPP INC

WORLDAPP INCEIN 02-0619397Plan #002PY 2023

222 FORBES RD, STE 303 - BRAINTREE, MA 02184718-849-8118worldapp.comLinkedIn201-500 employeescomputer software

Prospect flagsLow employer contribution

How to read this page

Total assets (EOY)

$4.4M

+67.8% from 2022

Total participants

156

-8.2% from 2022

Average account balance

$30,732

+75.9% from 2022

Annual return

29.16%

+44.18 pp from 2022

Benchmarks

See 6,231 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,231 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.81M

Not enough data

1 years with asset history on file

Average account balance

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

$43K

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.

134

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.

87.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.13M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+17.64%

Not enough data

1 years with return on file

Admin fee / account holder

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

$23

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 2 by compensation

Provider	Service type	Compensation
ALLIANCE PENSION CONSULTANTS, LLC2 years Filed as: ALLIANT INSURANCE SERVICES, INC. Service code 99	Other Fees	$8,894
ALLIANCE PENSION CONSULTANTS, LLC2 years Filed as: ALLIANT INSURANCE SERVICES INC. Service code 49 · EIN 33-0785439	Other Services	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

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

Expense breakdown

Schedule H Part II

Admin total

$4K

$27 / participant

Contract admin$4K100.0%

% of EOY assets

0.081%

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: PLANTE & MORAN, PLLC
Auditor EIN: 381357951
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$30,732

$91,439-66.4%

$135,974-77.4%

$71,511-57.0%

Participation rate

91.0%

75.7%+15.4pp

81.9%+9.1pp

67.9%+23.1pp

Annual return

29.16%

29.90%-0.7pp

68.30%-39.1pp

28.86%+0.3pp

Employer contribution / active EE

$3,705-100.0%

$4,859-100.0%

$2,589-100.0%

Participant deferral / active EE

$8,812

$7,093+24.2%

$7,760+13.6%

$4,291+105.4%

Admin fee / account holder

$25

$1,267-98.0%

$10,767-99.8%

$1,588-98.4%

Provider

Service type

Compensation

ALLIANCE PENSION CONSULTANTS, LLC2 years

Filed as: ALLIANT INSURANCE SERVICES, INC.

Service code 99

Other Fees

$8,894

ALLIANCE PENSION CONSULTANTS, LLC2 years

Filed as: ALLIANT INSURANCE SERVICES INC.

Service code 49 · EIN 33-0785439

Other Services

WORLDAPP INC 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WORLDAPP INC 401(K) PROFIT SHARING PLAN & 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