Retirement plan

RIBBON COMMUNICATIONS 401(K) PROFIT SHARING PLAN

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

RIBBON COMMUNICATIONS OPERATING COMPANY, INC.EIN 04-3387074Plan #001PY 2023

6500 CHASE OAKS BOULEVARD, SUITE 100 - PLANO, TX 75023972-521-5800ribboncommunications.comLinkedIn1001-5000 employeestelecommunications

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$313.1M

-5.2% from 2016

Total participants

1,393

+5.4% from 2016

Average account balance

$233,506

-8.5% from 2016

Annual return

17.04%

-8.93 pp from 2016

Benchmarks

See 2,421 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,421 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$340.17M

Not enough data

1 years with asset history on file

Average account balance

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

$258K

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.

1,316

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.

90.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$10.69M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+15.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$287

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
PRUDENTIAL RETIREMENT INSURANCE AND5 years Service code 13 · EIN 06-1050034	Contract Administrator	$131,276
MORGAN STANLEY SMITH BARNEY4 years Filed as: MORGAN STANLEY SMITH BARNEY HOLDING Service code 27 · EIN 26-4310632	Advisory (Plan)	$118,003
TURNER, STONE & COMPANY1 year Filed as: TURNER, STONE & COMPANY, LLP Service code 10 · EIN 75-2608885	Accounting	$54,600

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D2S

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.
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

$397K

$581 / participant

Investment mgmt$118K29.8%
Contract admin$249K62.7%
Other / not subdivided$30K7.5%

% of EOY assets

0.127%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: TURNER, STONE & COMPANY, LLP
Auditor EIN: 752608885
Audit fees: $28,600
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$233,506

$99,212+135.4%

$96,564+141.8%

$74,478+213.5%

Participation rate

92.4%

80.7%+11.7pp

76.0%+16.4pp

70.7%+21.6pp

Annual return

17.04%

22.40%-5.4pp

25.89%-8.8pp

34.37%-17.3pp

Employer contribution / active EE

$2,407

$2,569-6.3%

$2,967-18.9%

$2,637-8.7%

Participant deferral / active EE

$13,848

$4,938+180.4%

$4,852+185.4%

$4,530+205.7%

Admin fee / account holder

$296

$225+31.5%

$8,256-96.4%

$347-14.8%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND5 years

Service code 13 · EIN 06-1050034

Contract Administrator

$131,276

MORGAN STANLEY SMITH BARNEY4 years

Filed as: MORGAN STANLEY SMITH BARNEY HOLDING

Service code 27 · EIN 26-4310632

Advisory (Plan)

$118,003

TURNER, STONE & COMPANY1 year

Filed as: TURNER, STONE & COMPANY, LLP

Service code 10 · EIN 75-2608885

Accounting

$54,600

RIBBON COMMUNICATIONS 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RIBBON COMMUNICATIONS 401(K) PROFIT SHARING PLAN

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