Retirement plan

THE SIMON KONOVER COMPANY 401K SAVINGS PLAN

Name: THE SIMON KONOVER COMPANY - THE SIMON KONOVER COMPANY 401K SAVINGS PLAN (2023) Form 5500
Creator: THE SIMON KONOVER COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE SIMON KONOVER COMPANY 401K SAVINGS PLAN, THE SIMON KONOVER COMPANY

THE SIMON KONOVER COMPANYEIN 06-1496409Plan #001PY 2023

342 NORTH MAIN STREET, SUITE 200 - WEST HARTFORD, CT 061172584860-570-2001simonkonover.comLinkedIn201-500 employeesreal estate

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$14.7M

+24.5% from 2022

Total participants

288

-3.7% from 2022

Average account balance

$69,505

+24.5% from 2022

Annual return

17.44%

+34.37 pp from 2022

Benchmarks

See 1,068 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants100-249

Cohort1,068 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$16.72M

Not enough data

1 years with asset history on file

Average account balance

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

$80K

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.

208

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.

58.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.22M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+13.71%

Not enough data

1 years with return on file

Admin fee / account holder

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

$837

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 7 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSUR COMPANY OF AM Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$77,911
SMITH & HOWARD, PC1 year Filed as: SMITH BROTHERS FINANCIAL LLC Service code 27 68 NATIONAL DRIVE · GLASTONBURY, CT 06033	Advisory (Plan)	$25,379
WOODBURY FINANCIAL SERVICES9+ years Filed as: WOODBURY FINANCIAL SERVICES, INC. Service code 55 7755 3RD ST N · OAKDALE, MN 55128	Other Commissions	$24,753
SIMON LEVER LLC1 year Filed as: THE SIMON KONOVER COMPANY Service code 99 342 N MAIN STREET · WEST HARTFORD, CT 06117	Other Fees	$22,552
FIDUCIENT ADVISORS LLC3 years Service code 99 500 W MADISON ST STE 1700 · CHICAGO, IL 60661	Other Fees	$22,183
ADP BROKER-DEALER9+ years Filed as: PENSION CONSULTANTS, INC. Service code 13 10 WATERSIDE DRIVEQ · FARMINGTON, CT 06032	Contract Administrator	$9,809
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$9,312

Plan features & details

Pension benefit codes2E2F2G2J2K2T3H

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$167K

$827 / participant

Other / not subdivided$167K100.0%

% of EOY assets

1.140%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: COHNREZNICK LLP
Auditor EIN: 221478099
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$69,505

$65,428+6.2%

$169,390-59.0%

$71,511-2.8%

Participation rate

61.9%

66.9%-5.0pp

77.2%-15.3pp

67.9%-6.1pp

Annual return

17.44%

21.35%-3.9pp

406.07%-388.6pp

28.86%-11.4pp

Employer contribution / active EE

$1,954

$2,064-5.3%

$4,013-51.3%

$2,589-24.5%

Participant deferral / active EE

$3,800

$4,360-12.8%

$6,222-38.9%

$4,291-11.4%

Admin fee / account holder

$792

$1,328-40.3%

$9,015-91.2%

$1,588-50.1%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSUR COMPANY OF AM

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$77,911

SMITH & HOWARD, PC1 year

Filed as: SMITH BROTHERS FINANCIAL LLC

Service code 27

68 NATIONAL DRIVE · GLASTONBURY, CT 06033

Advisory (Plan)

$25,379

WOODBURY FINANCIAL SERVICES9+ years

Filed as: WOODBURY FINANCIAL SERVICES, INC.

Service code 55

7755 3RD ST N · OAKDALE, MN 55128

Other Commissions

$24,753

SIMON LEVER LLC1 year

Filed as: THE SIMON KONOVER COMPANY

Service code 99

342 N MAIN STREET · WEST HARTFORD, CT 06117

Other Fees

$22,552

FIDUCIENT ADVISORS LLC3 years

Service code 99

500 W MADISON ST STE 1700 · CHICAGO, IL 60661

Other Fees

$22,183

ADP BROKER-DEALER9+ years

Filed as: PENSION CONSULTANTS, INC.

Service code 13

10 WATERSIDE DRIVEQ · FARMINGTON, CT 06032

Contract Administrator

$9,809

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$9,312

THE SIMON KONOVER COMPANY 401K SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE SIMON KONOVER COMPANY 401K SAVINGS 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