Retirement plan

SPRUCE TECHNOLOGY, INC. 401(K) PLAN

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

SPRUCE TECHNOLOGY, INC.EIN 20-5656502Plan #001PY 2024

1149 BLOOMFIELD AVENUE, SUITE G - CLIFTON, NJ 07012862-225-9300sprucetech.comLinkedIn51-200 employeesinformation technology and services

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$6.1M

+19.2% from 2023

Total participants

246

-10.9% from 2023

Average account balance

$46,394

+17.4% from 2023

Annual return

13.67%

-38.07 pp from 2023

Benchmarks

See 6,285 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,285 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.12M

Not enough data

1 years with asset history on file

Average account balance

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

$46K

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.

132

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.

41.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.12M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+13.67%

Not enough data

1 years with return on file

Admin fee / account holder

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

$278

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
ADP BROKER-DEALER3+ years Filed as: ADP, INC. Service code 15 · EIN 13-3036745	Recordkeeping	$23,204
CADARET GRANT & CO INC2 years Service code 15 · EIN 22-2361254	Recordkeeping	$13,429

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$37K

$188 / participant

Recordkeeping$23K63.3%
Investment mgmt$13K36.7%

% of EOY assets

0.598%

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: P&K CPAS LLC
Auditor EIN: 464099934
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$46,394

$101,591-54.3%

$147,096-68.5%

$74,429-37.7%

Participation rate

41.5%

75.5%-34.0pp

82.2%-40.6pp

67.2%-25.7pp

Annual return

13.67%

8746.45%-8732.8pp

419.75%-406.1pp

1368.38%-1354.7pp

Employer contribution / active EE

$3,813-100.0%

$4,936-100.0%

$2,625-100.0%

Participant deferral / active EE

$5,756

$7,302-21.2%

$8,071-28.7%

$4,348+32.4%

Admin fee / account holder

$278

$1,750-84.1%

$13,005-97.9%

$1,944-85.7%

Provider

Service type

Compensation

ADP BROKER-DEALER3+ years

Filed as: ADP, INC.

Service code 15 · EIN 13-3036745

Recordkeeping

$23,204

CADARET GRANT & CO INC2 years

Service code 15 · EIN 22-2361254

Recordkeeping

$13,429

SPRUCE TECHNOLOGY, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPRUCE TECHNOLOGY, INC. 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