Retirement plan

RECOGNITION ROBOTICS 401(K) PLAN

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

RECOGNITION ROBOTICS, INC.EIN 20-5148347Plan #001PY 2023

3105 NORTHWOOD LANE - WESTLAKE, OH 441453720440-590-0499recognitionrobotics.comLinkedIn11-50 employeescomputer software

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$989K

+12.2% from 2022

Total participants

-11.1% from 2022

Average account balance

$141,295

+28.2% from 2022

Annual return

10.41%

+16.61 pp from 2022

Benchmarks

See 139,766 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort139,766 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.35M

Not enough data

1 years with asset history on file

Average account balance

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

$169K

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

$78K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+11.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12924

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 codes2E2F2G2J2T3B3D

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.
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$129K

$16104 / participant

Other / not subdivided$129K100.0%

% of EOY assets

13.026%

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

$141,295

$148,623-4.9%

$135,974+3.9%

$139,466+1.3%

Participation rate

87.5%

83.9%+3.6pp

81.9%+5.6pp

80.3%+7.2pp

Annual return

10.41%

79.30%-68.9pp

68.30%-57.9pp

373.66%-363.3pp

Employer contribution / active EE

$1,897

$5,246-63.8%

$4,859-61.0%

$4,754-60.1%

Participant deferral / active EE

$14,765

$8,103+82.2%

$7,760+90.3%

$6,712+120.0%

Admin fee / account holder

$18,405

$12,406+48.4%

$10,767+70.9%

$11,409+61.3%

RECOGNITION ROBOTICS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RECOGNITION ROBOTICS 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