Retirement plan

IDEAS ON PURPOSE 401(K) PLAN

Name: IDEAS ON PURPOSE LLC - IDEAS ON PURPOSE 401(K) PLAN (2020) Form 5500
Creator: IDEAS ON PURPOSE LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IDEAS ON PURPOSE 401(K) PLAN, IDEAS ON PURPOSE LLC

IDEAS ON PURPOSE LLCEIN 06-1596375Plan #001PY 2020

307 SEVENTH AVENUE, SUITE 701 - NEW YORK, NY 10001212-366-6355ideasonpurpose.comLinkedIn11-50 employeesdesign

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$3.2M

+22.8% from 2019

Total participants

+5.9% from 2019

Average account balance

$175,621

+16.0% from 2019

Annual return

16.63%

-8.06 pp from 2019

Benchmarks

See 120,779 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort120,779 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.35M

Not enough data

1 years with asset history on file

Average account balance

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

$289K

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.

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.

169.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$225K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+16.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$7261

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2J2F2G3D

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.
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

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

$27K

$2064 / participant

Other / not subdivided$27K100.0%

% of EOY assets

0.849%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$175,621

$165,361+6.2%

$149,715+17.3%

$158,950+10.5%

Participation rate

100.0%

84.6%+15.4pp

82.5%+17.5pp

82.0%+18.0pp

Annual return

16.63%

348.24%-331.6pp

276.66%-260.0pp

302.91%-286.3pp

Employer contribution / active EE

$4,862

$5,103-4.7%

$4,645+4.7%

$4,762+2.1%

Participant deferral / active EE

$9,402

$7,182+30.9%

$6,842+37.4%

$5,983+57.1%

Admin fee / account holder

$1,491

$10,808-86.2%

$9,310-84.0%

$11,248-86.7%

IDEAS ON PURPOSE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IDEAS ON PURPOSE 401(K) 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