Retirement plan

CHIME USA, INC. RETIREMENT PLAN

Name: CHIME USA, INC. - CHIME USA, INC. RETIREMENT PLAN (2022) Form 5500
Creator: CHIME USA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHIME USA, INC. RETIREMENT PLAN, CHIME USA, INC.

CHIME USA, INC.EIN 04-3548570Plan #001PY 2022

212 E CROSSROADS BLVD #418 - SARATOGA SPRINGS, UT 84045801-361-0336

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$11.2M

-65.8% from 2021

Total participants

262

-46.4% from 2021

Average account balance

$52,439

-30.7% from 2021

Annual return

-70.16%

-84.72 pp from 2021

Benchmarks

See 278 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants100-249

Cohort278 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$20.31M

Not enough data

1 years with asset history on file

Average account balance

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

$90K

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.

225

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.

65.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.37M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+22.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

$515

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290	Contract Administrator	$90,837
AMERICAN UNITED LIFE INSURANCE CO6+ years Filed as: ONE AMERICA SECURITIES INC Service code 49 · EIN 35-1159900	Other Services	$40,625
LATITUDE SERVICE COMPANY INC4 years Filed as: LATITUDE SERVICE COMPANY, INC. Service code 13	Contract Administrator	$13,542
LATITUDE SERVICE COMPANY INC2 years Service code 13 · EIN 82-1371994	Contract Administrator	$8,789

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$100K

$501 / participant

Contract admin$100K100.0%

% of EOY assets

0.892%

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: CARON & BLETZER PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$52,439

$69,848-24.9%

$115,756-54.7%

$66,930-21.7%

Participation rate

75.4%

70.6%+4.8pp

77.1%-1.7pp

69.8%+5.6pp

Annual return

-70.16%

969.66%-1039.8pp

143.14%-213.3pp

1.57%-71.7pp

Employer contribution / active EE

$5,565

$2,613+113.0%

$3,793+46.7%

$2,545+118.7%

Participant deferral / active EE

$12,118

$4,274+183.5%

$6,254+93.8%

$4,238+186.0%

Admin fee / account holder

$468

$337+38.7%

$8,124-94.2%

$593-21.2%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY6+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$90,837

AMERICAN UNITED LIFE INSURANCE CO6+ years

Filed as: ONE AMERICA SECURITIES INC

Service code 49 · EIN 35-1159900

Other Services

$40,625

LATITUDE SERVICE COMPANY INC4 years

Filed as: LATITUDE SERVICE COMPANY, INC.

Service code 13

Contract Administrator

$13,542

LATITUDE SERVICE COMPANY INC2 years

Service code 13 · EIN 82-1371994

Contract Administrator

$8,789

CHIME USA, INC. RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHIME USA, INC. RETIREMENT 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