Retirement plan

EDFINANCIAL SERVICES, LLC 401(K) PLAN

Name: EDFINANCIAL SERVICES, LLC - EDFINANCIAL SERVICES, LLC 401(K) PLAN (2024) Form 5500
Creator: EDFINANCIAL SERVICES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EDFINANCIAL SERVICES, LLC 401(K) PLAN, EDFINANCIAL SERVICES, LLC

EDFINANCIAL SERVICES, LLCEIN 20-5316278Plan #002PY 2024

298 N. SEVEN OAKS DRIVE - KNOXVILLE, TN 37922865-342-5127edfinancial.comLinkedIn1001-5000 employeeshigher education

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$29.4M

+23.5% from 2023

Total participants

1,656

+7.6% from 2023

Average account balance

$41,375

+24.9% from 2023

Annual return

17.74%

-1.81 pp from 2023

Benchmarks

See 288 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants1,000-4,999

Cohort288 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$29.42M

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

711

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.

31.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.53M

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

+17.74%

Not enough data

1 years with return on file

Admin fee / account holder

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

$215

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 3 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL7 years Filed as: FIDELITY INVESTMENTS Service code 37 · EIN 04-2647786	Loan Processing	$80,042
LPL FINANCIAL7 years Filed as: LPL FINANCIAL LLC HOLDINGS Service code 27 · EIN 04-3046611	Advisory (Plan)	$47,130
TENNESSEE PENSION ADMINISTRATORS5 years Service code 15 · EIN 62-1757444	Recordkeeping	$13,059

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$153K

$110 / participant

Recordkeeping$80K52.4%
Investment mgmt$47K30.9%
Contract admin$3000.2%
Other / not subdivided$25K16.5%

% of EOY assets

0.519%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAKER TILLY US LLP
Auditor EIN: 301413443
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$41,375

$55,527-25.5%

$81,783-49.4%

$199,768-79.3%

Participation rate

31.8%

62.7%-31.0pp

72.4%-40.6pp

72.0%-40.2pp

Annual return

17.74%

19.58%-1.8pp

775.05%-757.3pp

34.26%-16.5pp

Employer contribution / active EE

$952

$2,111-54.9%

$2,913-67.3%

$3,037-68.7%

Participant deferral / active EE

$875

$3,296-73.4%

$4,320-79.7%

$5,090-82.8%

Admin fee / account holder

$215

$347-38.2%

$7,380-97.1%

$269-20.2%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL7 years

Filed as: FIDELITY INVESTMENTS

Service code 37 · EIN 04-2647786

Loan Processing

$80,042

LPL FINANCIAL7 years

Filed as: LPL FINANCIAL LLC HOLDINGS

Service code 27 · EIN 04-3046611

Advisory (Plan)

$47,130

TENNESSEE PENSION ADMINISTRATORS5 years

Service code 15 · EIN 62-1757444

Recordkeeping

$13,059

EDFINANCIAL SERVICES, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EDFINANCIAL SERVICES, LLC 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