Retirement plan

INTEGRATED FINANCIAL SETTLEMENTS, INC. 401(K) PLAN

Name: INTEGRATED FINANCIAL SETTLEMENTS - INTEGRATED FINANCIAL SETTLEMENTS, INC. 401(K) PLAN (2017) Form 5500
Creator: INTEGRATED FINANCIAL SETTLEMENTS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INTEGRATED FINANCIAL SETTLEMENTS, INC. 401(K) PLAN, INTEGRATED FINANCIAL SETTLEMENTS

INTEGRATED FINANCIAL SETTLEMENTSEIN 20-4029426Plan #001PY 2017

5613 DTC PARKWAY, SUITE 700 - GREENWOOD VILLAGE, CO 80111303-337-0400

Prospect flagsHigh feesLow employer contributionFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed August 9, 2021 (most recent of 2 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$34.7M

+20.2% from 2016

Total participants

267

+9.4% from 2016

Average account balance

$173,370

+7.5% from 2016

Annual return

17.73%

+10.20 pp from 2016

Benchmarks

See 1,453 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,453 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$46.68M

Not enough data

1 years with asset history on file

Average account balance

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

$189K

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.

247

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.

98.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.99M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+10.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

$286

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

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Service providers

Top 10 of 11 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years Service code 33 · EIN 04-1590850	Investment management fees paid indir...	$41,091
FIRST WESTERN TRUST BANK1 year Filed as: FIRST WESTERN Service code 50 · EIN 27-0083757	Direct Payment	$21,671
CHARLES SCHWAB & CO., INC.3+ years Filed as: CHARLES SCHWAB & CO, INC. Service code 59 · EIN 94-1737782	Shareholder Servicing	$225
AMERICAN CENTURY1 year Service code 52 · EIN 43-1646043	Indirect Investment Fees	$0
GOLDMAN SACHS1 year Service code 52 · EIN 13-5108880	Indirect Investment Fees	$0
MORGAN STANLEY SMITH BARNEY1 year Filed as: JP MORGAN Service code 52 · EIN 26-3613641	Indirect Investment Fees	$0
LAZARD ASSET MANAGEMENT1 year Filed as: LAZARD Service code 52 · EIN 20-0169148	Indirect Investment Fees	$0
MFS INVESTMENT MANAGEMENT1 year Service code 52 · EIN 04-3158862	Indirect Investment Fees	$0
OPPENHEIMER1 year Service code 52 · EIN 93-6305075	Indirect Investment Fees	$0
PRINCIPAL INVESTORS1 year Service code 52 · EIN 91-1801401	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K2R3B3D3H2T

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.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

4 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$62K

$249 / participant

Investment mgmt$59K94.4%
Contract admin$3K5.6%

% of EOY assets

0.180%

all-in expense ratio

Categories reported

2 / 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: CROWE
Auditor EIN: 350921680
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$173,370

$81,537+112.6%

$149,721+15.8%

$69,631+149.0%

Participation rate

73.2%

86.1%-12.9pp

87.1%-13.9pp

70.7%+2.5pp

Annual return

17.73%

22.79%-5.1pp

1501.67%-1483.9pp

27571.02%-27553.3pp

Employer contribution / active EE

$341

$3,239-89.5%

$5,444-93.7%

$2,032-83.2%

Participant deferral / active EE

$6,455

$4,994+29.3%

$6,568-1.7%

$3,224+100.2%

Admin fee / account holder

$311

$107+191.5%

$11,282-97.2%

$110+182.0%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years

Service code 33 · EIN 04-1590850

Investment management fees paid indir...

$41,091

FIRST WESTERN TRUST BANK1 year

Filed as: FIRST WESTERN

Service code 50 · EIN 27-0083757

Direct Payment

$21,671

CHARLES SCHWAB & CO., INC.3+ years

Filed as: CHARLES SCHWAB & CO, INC.

Service code 59 · EIN 94-1737782

Shareholder Servicing

$225

AMERICAN CENTURY1 year

Service code 52 · EIN 43-1646043

Indirect Investment Fees

GOLDMAN SACHS1 year

Service code 52 · EIN 13-5108880

Indirect Investment Fees

MORGAN STANLEY SMITH BARNEY1 year

Filed as: JP MORGAN

Service code 52 · EIN 26-3613641

Indirect Investment Fees

LAZARD ASSET MANAGEMENT1 year

Filed as: LAZARD

Service code 52 · EIN 20-0169148

Indirect Investment Fees

MFS INVESTMENT MANAGEMENT1 year

Service code 52 · EIN 04-3158862

Indirect Investment Fees

OPPENHEIMER1 year

Service code 52 · EIN 93-6305075

Indirect Investment Fees

PRINCIPAL INVESTORS1 year

Service code 52 · EIN 91-1801401

Indirect Investment Fees

INTEGRATED FINANCIAL SETTLEMENTS, INC. 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INTEGRATED FINANCIAL SETTLEMENTS, INC. 401(K) PLAN

Top hat statement on fileNQDC

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