Retirement plan

TAK BROADBAND, LLC 401(K) PLAN

Name: TAK BROADBAND, LLC - TAK BROADBAND, LLC 401(K) PLAN (2024) Form 5500
Creator: TAK BROADBAND, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TAK BROADBAND, LLC 401(K) PLAN, TAK BROADBAND, LLC

TAK BROADBAND, LLCEIN 20-0720874Plan #001PY 2024

4401 S. TECHNOLOGY DRIVE, SUITE 3 - SIOUX FALLS, SD 57106605-362-6630takcommunications.comLinkedIn1001-5000 employeestelecommunications

Prospect flagsLow participationLow assets / participantLow employer contributionLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$6.8M

+40.6% from 2023

Total participants

641

-6.4% from 2023

Average account balance

$21,319

+6.1% from 2023

Annual return

19.40%

+0.20 pp from 2023

Benchmarks

See 3,296 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,296 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.78M

Not enough data

1 years with asset history on file

Average account balance

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

$21K

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.

318

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.

45.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.58M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+19.40%

Not enough data

1 years with return on file

Admin fee / account holder

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

$137

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 6 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY9 years Service code 13 · EIN 42-0127290	Contract Administrator	$33,787
ASCENSUS LLC2 years Filed as: DWC ERISA CONSULTANTS, LLC Service code 13 · EIN 26-2091417	Contract Administrator	$9,891
ASCENSUS LLC1 year Filed as: DWC ERISA CONSULTANTS LLC Service code 13	Contract Administrator	$2,003
MORNINGSTAR2 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT Service code 26 · EIN 36-4317381	Advisory (Participants)	$0
MORNINGSTAR2 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26	Advisory (Participants)	$0
WILSHIRE ASSOCIATES INCORPORATED2 years Filed as: WILSHIRE ADVISORS LLC Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2S2E2J2K2F2G3D3H2T

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
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

6 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$44K

$74 / participant

Contract admin$44K100.0%

% of EOY assets

0.644%

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: RSM US LLP
Auditor EIN: 420714325
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$21,319

$106,264-79.9%

$147,117-85.5%

$77,762-72.6%

Participation rate

45.4%

78.4%-33.0pp

82.2%-36.7pp

70.6%-25.1pp

Annual return

19.40%

56.94%-37.5pp

420.54%-401.1pp

31.27%-11.9pp

Employer contribution / active EE

$606

$4,074-85.1%

$4,932-87.7%

$2,728-77.8%

Participant deferral / active EE

$2,064

$8,003-74.2%

$8,065-74.4%

$4,651-55.6%

Admin fee / account holder

$137

$334-58.9%

$12,993-98.9%

$433-68.3%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY9 years

Service code 13 · EIN 42-0127290

Contract Administrator

$33,787

ASCENSUS LLC2 years

Filed as: DWC ERISA CONSULTANTS, LLC

Service code 13 · EIN 26-2091417

Contract Administrator

$9,891

ASCENSUS LLC1 year

Filed as: DWC ERISA CONSULTANTS LLC

Service code 13

Contract Administrator

$2,003

MORNINGSTAR2 years

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT

Service code 26 · EIN 36-4317381

Advisory (Participants)

MORNINGSTAR2 years

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L

Service code 26

Advisory (Participants)

WILSHIRE ASSOCIATES INCORPORATED2 years

Filed as: WILSHIRE ADVISORS LLC

Service code 27 · EIN 95-2755361

Advisory (Plan)

TAK BROADBAND, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TAK BROADBAND, LLC 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