Retirement plan

IRHYTHM TECHNOLOGIES 401(K) PLAN

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

IRHYTHM TECHNOLOGIESEIN 20-8149544Plan #001PY 2023

699 8TH STREET, SUITE 600 - SAN FRANCISCO, CA 94103415-632-5700irhythmtech.comLinkedIn1001-5000 employeesmedical devices

Prospect flagsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$100.5M

+52.1% from 2022

Total participants

2,106

+3.5% from 2022

Average account balance

$53,421

+50.0% from 2022

Annual return

28.83%

+43.81 pp from 2022

Benchmarks

See 1,406 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,406 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$132.95M

Not enough data

1 years with asset history on file

Average account balance

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

$65K

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.

2,040

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.

88.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$24.82M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+21.08%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 1 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	$29,945

Plan features & details

Pension benefit codes2G2J2T3F2F3D2R

Plan features

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.
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.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

2 tripped

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

$30K

$17 / participant

Recordkeeping$30K100.0%

% of EOY assets

0.030%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: LEE CPA AUDIT GROUP
Auditor EIN: 814637885
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$53,421

$50,151+6.5%

$149,717-64.3%

$80,149-33.3%

Participation rate

87.2%

64.3%+22.9pp

78.8%+8.5pp

72.9%+14.3pp

Annual return

28.83%

29.80%-1.0pp

134.41%-105.6pp

40.39%-11.6pp

Employer contribution / active EE

$3,178

$1,867+70.3%

$4,820-34.1%

$2,977+6.8%

Participant deferral / active EE

$10,253

$3,194+221.0%

$5,682+80.4%

$5,015+104.4%

Admin fee / account holder

$16

$153-89.6%

$13,213-99.9%

$145-89.1%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

$29,945

IRHYTHM TECHNOLOGIES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IRHYTHM TECHNOLOGIES 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