Retirement plan

VITEC USA SAVINGS PLAN

Name: VITEC GROUP US HOLDINGS, INC. - VITEC USA SAVINGS PLAN (2018) Form 5500
Creator: VITEC GROUP US HOLDINGS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VITEC USA SAVINGS PLAN, VITEC GROUP US HOLDINGS, INC.

VITEC GROUP US HOLDINGS, INC.EIN 13-3740217Plan #002PY 2018

C/O MORRISON COHEN LLP, 909 THIRD AVENUE 27TH FLOOR - NEW YORK, NY 10022212-735-8644

Prospect flagsLow returnsFailed to provide benefitCorrective distributions

How to read this page

Total assets (EOY)

$30.2M

-29.4% from 2017

Total participants

545

-37.2% from 2017

Average account balance

$66,618

-16.5% from 2017

Annual return

-28.42%

-35.85 pp from 2017

Benchmarks

See 500 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants250-999

Cohort500 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$59.02M

Not enough data

1 years with asset history on file

Average account balance

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

$95K

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.

619

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.

47.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.63M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+23.21%

Not enough data

1 years with return on file

Admin fee / account holder

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

$92

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 4 by compensation

Provider	Service type	Compensation
MORRISON COHEN LLP2 years Service code 29 · EIN 13-3205994	Legal	$23,928
CITRIN COOPERMAN4+ years Service code 10 · EIN 22-2428965	Accounting	$19,000
STRATEGIC ADVISORS, INC.4+ years Service code 27 · EIN 04-2654524	Advisory (Plan)	$13,795
FIDELITY INVESTMENTS INSTITUTIONAL4+ years Service code 37 · EIN 04-2647786	Loan Processing	$3,349

Plan features & details

Pension benefit codes3D2T2E2F2G2J2K2R

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.
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 returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$60K

$154 / participant

Investment mgmt$14K23.0%
Other / not subdivided$46K77.0%

% of EOY assets

0.198%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CITRIN COOPERMAN & COMPANY LLP
Auditor EIN: 222428965
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$66,618

$62,543+6.5%

$83,327-20.1%

$55,725+19.5%

Participation rate

76.7%

78.4%-1.7pp

77.8%-1.1pp

70.9%+5.8pp

Annual return

-28.42%

14.85%-43.3pp

10.64%-39.1pp

244.93%-273.4pp

Employer contribution / active EE

$1,894

$2,427-22.0%

$3,379-44.0%

$2,078-8.9%

Participant deferral / active EE

$5,940

$5,682+4.5%

$5,565+6.7%

$3,356+77.0%

Admin fee / account holder

$132

$103+28.2%

$7,540-98.2%

$115+14.7%

Provider

Service type

Compensation

MORRISON COHEN LLP2 years

Service code 29 · EIN 13-3205994

Legal

$23,928

CITRIN COOPERMAN4+ years

Service code 10 · EIN 22-2428965

Accounting

$19,000

STRATEGIC ADVISORS, INC.4+ years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$13,795

FIDELITY INVESTMENTS INSTITUTIONAL4+ years

Service code 37 · EIN 04-2647786

Loan Processing

$3,349

VITEC USA SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VITEC USA 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