Retirement plan

INNOVATIVE COMMUNICATIONS SYS 401K PLAN

Name: INNOVATIVE COMMUNICATIONS SYS - INNOVATIVE COMMUNICATIONS SYS 401K PLAN (2023) Form 5500
Creator: INNOVATIVE COMMUNICATIONS SYS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INNOVATIVE COMMUNICATIONS SYS 401K PLAN, INNOVATIVE COMMUNICATIONS SYS

INNOVATIVE COMMUNICATIONS SYSEIN 20-1734706Plan #001PY 2023

PO BOX 50325 - SPARKS, NV 89435775-742-4530ics-nv.comLinkedIn1-10 employeestelecommunications

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$412K

+42.0% from 2022

Total participants

+20.0% from 2022

Average account balance

$103,115

+42.0% from 2022

Annual return

16.99%

+32.25 pp from 2022

Benchmarks

See 51,545 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants<25

Cohort51,545 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$910K

Not enough data

1 years with asset history on file

Average account balance

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

$76K

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.

75.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$198K

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

+19.75%

Not enough data

1 years with return on file

Admin fee / account holder

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

$435

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

1 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Plan-level admin expenses are zero - fees are likely paid at the master-trust level rather than the individual plan.

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

$103,115

$106,280-3.0%

$96,538+6.8%

$139,487-26.1%

Participation rate

27.3%

77.8%-50.6pp

74.3%-47.1pp

80.3%-53.1pp

Annual return

16.99%

38.48%-21.5pp

35.74%-18.7pp

373.84%-356.9pp

Employer contribution / active EE

$2,569

$4,107-37.5%

$3,740-31.3%

$4,755-46.0%

Participant deferral / active EE

$4,028

$5,457-26.2%

$4,880-17.5%

$6,713-40.0%

Admin fee / account holder

-$1,265

$7,888-116.0%

$6,737-118.8%

$11,407-111.1%

INNOVATIVE COMMUNICATIONS SYS 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INNOVATIVE COMMUNICATIONS SYS 401K 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