Retirement plan

CONVERGED NETWORKS, INC. 401(K) PLAN

Name: CONVERGED NETWORKS, INC. - CONVERGED NETWORKS, INC. 401(K) PLAN (2021) Form 5500
Creator: CONVERGED NETWORKS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CONVERGED NETWORKS, INC. 401(K) PLAN, CONVERGED NETWORKS, INC.

CONVERGED NETWORKS, INC.EIN 20-1708278Plan #001PY 2021

1295 NEWELL PARKWAY - MONTGOMERY, AL 36110334-239-2371converged-networks.comLinkedIn1-10 employeestelecommunications

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$129K

+137.0% from 2020

Total participants

-11.1% from 2020

Average account balance

$18,470

+137.0% from 2020

Annual return

21.05%

+21.05 pp from 2020

Benchmarks

See 9,483 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants<25

Cohort9,483 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$387K

Not enough data

1 years with asset history on file

Average account balance

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

$77K

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.

83.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$70K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+18.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

$369

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 codes2E2F2G2J2T3D

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.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$468

$67 / participant

Other / not subdivided$468100.0%

% of EOY assets

0.362%

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

$18,470

$124,175-85.1%

$108,405-83.0%

$167,536-89.0%

Participation rate

85.7%

82.3%+3.4pp

80.1%+5.6pp

82.1%+3.6pp

Annual return

21.05%

1380.13%-1359.1pp

905.55%-884.5pp

478.82%-457.8pp

Employer contribution / active EE

$2,586

$4,188-38.2%

$3,559-27.3%

$4,839-46.6%

Participant deferral / active EE

$6,452

$6,908-6.6%

$6,563-1.7%

$6,342+1.7%

Admin fee / account holder

$67

$9,457-99.3%

$7,297-99.1%

$12,315-99.5%

CONVERGED NETWORKS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CONVERGED NETWORKS, 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