Retirement plan

NETWORK ADJUSTERS, INCORPORATED 401(K) PROFIT SHARING PLAN &

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

NETWORK ADJUSTERS, INCORPORATEDEIN 11-2999619Plan #001PY 2023

850 FULTON STREET - FARMINGDALE, NY 11735516-747-6400networkadjusters.comLinkedIn51-200 employeesinsurance

Prospect flagsLow returnsHigh feesLow participation

How to read this page

Total assets (EOY)

$15.7M

+20.5% from 2022

Total participants

177

-4.3% from 2022

Average account balance

$133,153

+59.3% from 2022

Annual return

14.71%

+28.39 pp from 2022

Benchmarks

See 2,152 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,152 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.66M

Not enough data

1 years with asset history on file

Average account balance

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

$100K

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.

176

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.

67.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.66M

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

+13.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$349

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
NATIONWIDE6 years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$36,536
IRON-CO-FID-COMPREHENSIVE1 year Filed as: IRON CO FID COMPREHENSIVE Service code 26 630 DUNDEE RD STE 200 · NORTHBROOK, IA 60062	Advisory (Participants)	$10,006
AMERIPRISE FINANCIAL SERVICES INC1 year Filed as: AMERIPRISE FINANCIAL Service code 26 50082 AMERIPRISE FINANCIAL CTR · MINNEAPOLIS, MN 55474	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2E2F2G2J2M2R2T3D

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.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

3 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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$49K

$298 / participant

Contract admin$49K100.0%

% of EOY assets

0.314%

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: WITHUM SMITH & BROWN
Auditor EIN: 222027092
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$133,153

$130,294+2.2%

$170,043-21.7%

$71,511+86.2%

Participation rate

64.5%

86.2%-21.7pp

87.0%-22.5pp

67.9%-3.5pp

Annual return

14.71%

20.36%-5.7pp

53.40%-38.7pp

28.86%-14.1pp

Employer contribution / active EE

$2,936

$4,385-33.0%

$6,790-56.8%

$2,589+13.4%

Participant deferral / active EE

$6,083

$6,928-12.2%

$10,410-41.6%

$4,291+41.8%

Admin fee / account holder

$419

$966-56.7%

$12,824-96.7%

$1,588-73.6%

Provider

Service type

Compensation

NATIONWIDE6 years

Service code 15

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$36,536

IRON-CO-FID-COMPREHENSIVE1 year

Filed as: IRON CO FID COMPREHENSIVE

Service code 26

630 DUNDEE RD STE 200 · NORTHBROOK, IA 60062

Advisory (Participants)

$10,006

AMERIPRISE FINANCIAL SERVICES INC1 year

Filed as: AMERIPRISE FINANCIAL

Service code 26

50082 AMERIPRISE FINANCIAL CTR · MINNEAPOLIS, MN 55474

Advisory (Participants)

NETWORK ADJUSTERS, INCORPORATED 401(K) PROFIT SHARING PLAN &

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NETWORK ADJUSTERS, INCORPORATED 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