Retirement plan

KAREO, INC. 401(K) PLAN

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

KAREO, INC.EIN 20-0739220Plan #002PY 2020

3353 MICHELSON, SUITE 400 - IRVINE, CA 92612949-247-5660

Prospect flagsLow assets / participantLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$11.5M

+23.4% from 2019

Total participants

454

-17.9% from 2019

Average account balance

$28,262

+58.6% from 2019

Annual return

19.11%

-20.86 pp from 2019

Benchmarks

See 523 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants250-999

Cohort523 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$32.74M

Not enough data

1 years with asset history on file

Average account balance

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

$42K

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.

772

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.

85.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.85M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+19.72%

Not enough data

1 years with return on file

Admin fee / account holder

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

$109

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 2 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL4 years Service code 37 · EIN 04-2647786	Loan Processing	$37,381
KESTRA INVESTMENT SERVICES LLC3 years Service code 27 · EIN 35-2552359	Advisory (Plan)	$22,519

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.

Opportunity flags

3 tripped

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.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$60K

$191 / participant

Other / not subdivided$60K100.0%

% of EOY assets

0.521%

all-in expense ratio

Categories reported

0 / 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: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$28,262

$78,781-64.1%

$100,535-71.9%

$73,412-61.5%

Participation rate

85.0%

80.0%+5.0pp

79.4%+5.6pp

72.2%+12.8pp

Annual return

19.11%

31.69%-12.6pp

30.90%-11.8pp

59.30%-40.2pp

Employer contribution / active EE

$2,420-100.0%

$3,419-100.0%

$2,234-100.0%

Participant deferral / active EE

$6,250

$6,537-4.4%

$6,271-0.3%

$3,806+64.2%

Admin fee / account holder

$147

$145+1.3%

$8,085-98.2%

$158-6.8%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL4 years

Service code 37 · EIN 04-2647786

Loan Processing

$37,381

KESTRA INVESTMENT SERVICES LLC3 years

Service code 27 · EIN 35-2552359

Advisory (Plan)

$22,519

KAREO, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KAREO, INC. 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