Retirement plan

INNOVATIVE FINANCIAL MANAGEMENT 401K PLAN QRP

Name: INNOVATIVE FINANCIAL MANAGEMENT, INC. - INNOVATIVE FINANCIAL MANAGEMENT 401K PLAN QRP (2019) Form 5500
Creator: INNOVATIVE FINANCIAL MANAGEMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INNOVATIVE FINANCIAL MANAGEMENT 401K PLAN QRP, INNOVATIVE FINANCIAL MANAGEMENT, INC.

INNOVATIVE FINANCIAL MANAGEMENT, INC.EIN 20-1946757Plan #001PY 2019

18 N SIERRA MADRE ST - COLORADO SPRINGS, CO 809033337719-578-5400

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$291K

+33.3% from 2018

Total participants

0.0% from 2018

Average account balance

$145,508

+33.3% from 2018

Annual return

28.51%

+47.02 pp from 2018

Benchmarks

See 31,991 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort31,991 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$571K

Not enough data

1 years with asset history on file

Average account balance

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

$286K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$60K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$30K

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

+7.66%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8166

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 codes2E2J2R2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$22K

$11060 / participant

Other / not subdivided$22K100.0%

% of EOY assets

7.601%

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

$145,508

$183,988-20.9%

$162,177-10.3%

$152,897-4.8%

Participation rate

100.0%

88.5%+11.5pp

87.6%+12.4pp

82.5%+17.5pp

Annual return

28.51%

150.79%-122.3pp

115.60%-87.1pp

345.43%-316.9pp

Employer contribution / active EE

$1,554

$6,370-75.6%

$5,613-72.3%

$4,764-67.4%

Participant deferral / active EE

$13,646

$8,032+69.9%

$7,297+87.0%

$5,851+133.2%

Admin fee / account holder

$11,060

$13,123-15.7%

$10,843+2.0%

$11,599-4.7%

INNOVATIVE FINANCIAL MANAGEMENT 401K PLAN QRP

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INNOVATIVE FINANCIAL MANAGEMENT 401K PLAN QRP

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