Retirement plan

WORKPLACE OPTIONS, LLC GOVERNMENT CONTRACTORS RETIREMENT PLAN

Name: WORKPLACE OPTIONS, LLC - WORKPLACE OPTIONS, LLC GOVERNMENT CONTRACTORS RETIREMENT PLAN (2023) Form 5500
Creator: WORKPLACE OPTIONS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WORKPLACE OPTIONS, LLC GOVERNMENT CONTRACTORS RETIREMENT PLAN, WORKPLACE OPTIONS, LLC

WORKPLACE OPTIONS, LLCEIN 20-2699271Plan #003PY 2023

2912 HIGHWOODS BOULEVARD - RALEIGH, NC 27604919-834-6506workplaceoptions.comLinkedIn1001-5000 employeesmental health care

Other plans on this EIN

1 filing

#002Retirement-$18.4M assets

Prospect flagsLow assets / participant

How to read this page

Total assets (EOY)

$819K

+47.5% from 2022

Total participants

212

+23.3% from 2022

Average account balance

$4,448

+25.9% from 2022

Annual return

20.14%

+39.45 pp from 2022

Benchmarks

See 5,703 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,703 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$998K

Not enough data

1 years with asset history on file

Average account balance

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

$5K

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.

197

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.

73.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$203K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+12.65%

Not enough data

1 years with return on file

Admin fee / account holder

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

$52

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
ASCENSUS LLC1 year Service code 15 · EIN 11-3665754	Recordkeeping	$2,235
GALLAGHER FIDUCIARY ADVISORS, LLC1 year Filed as: GALLAGHER FIDUCIARY ADVISORS Service code 27 PO BOX 71396 · CHICAGO, IL 60694	Advisory (Plan)	$915

Plan features & details

Pension benefit codes2A2E3D2G2F2T

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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 assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$3K

$30 / participant

Investment mgmt$91529.0%
Contract admin$2K71.0%

% of EOY assets

0.385%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CHERRY BEKAERT LLP
Auditor EIN: 560574444
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$4,448

$61,391-92.8%

$149,723-97.0%

$71,529-93.8%

Participation rate

73.6%

62.5%+11.1pp

78.8%-5.2pp

67.9%+5.6pp

Annual return

20.14%

35.88%-15.7pp

134.50%-114.4pp

28.97%-8.8pp

Employer contribution / active EE

$2,334

$2,384-2.1%

$4,821-51.6%

$2,590-9.9%

Participant deferral / active EE

$2,921-100.0%

$5,682-100.0%

$4,291-100.0%

Admin fee / account holder

$17

$1,264-98.6%

$13,215-99.9%

$1,588-98.9%

Provider

Service type

Compensation

ASCENSUS LLC1 year

Service code 15 · EIN 11-3665754

Recordkeeping

$2,235

GALLAGHER FIDUCIARY ADVISORS, LLC1 year

Filed as: GALLAGHER FIDUCIARY ADVISORS

Service code 27

PO BOX 71396 · CHICAGO, IL 60694

Advisory (Plan)

$915

WORKPLACE OPTIONS, LLC GOVERNMENT CONTRACTORS RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WORKPLACE OPTIONS, LLC GOVERNMENT CONTRACTORS RETIREMENT 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