Retirement plan

THE WORKPLACE, INC. 401K RETIREMENT PLAN

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

THE WORKPLACE, INC.EIN 22-2484517Plan #001PY 2024

1000 LAFAYETTE BLVD, SUITE 501 - BRIDGEPORT, CT 06604203-610-8508workplace.orgLinkedIn51-200 employeesnon-profit organization management

Prospect flagsHigh retiree %High fees

How to read this page

Total assets (EOY)

$19M

+11.2% from 2023

Total participants

208

-0.5% from 2023

Average account balance

$94,684

+12.3% from 2023

Annual return

13.74%

-2.36 pp from 2023

Benchmarks

See 1,414 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants100-249

Cohort1,414 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$19.03M

Not enough data

1 years with asset history on file

Average account balance

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

$95K

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.

201

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.

95.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.20M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+13.74%

Not enough data

1 years with return on file

Admin fee / account holder

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

$453

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
SENTINEL PENSION ADVISORS7 years Service code 15 · EIN 04-3422848	Recordkeeping	$39,020
SENTINEL PENSION ADVISORS7 years Filed as: SENTINEL BENEFITS GROUP, LLC Service code 15 · EIN 20-5916766	Recordkeeping	$32,913
CITRIN COOPERMAN6 years Service code 10 · EIN 22-2428965	Accounting	$19,084

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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$91K

$612 / participant

Investment mgmt$39K42.8%
Contract admin$33K36.2%
Other / not subdivided$19K20.9%

% of EOY assets

0.479%

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: WITHUM SMITH & BROWN, PC
Auditor EIN: 222027092
Audit fees: $19,084
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$94,684

$45,123+109.8%

$85,240+11.1%

$74,478+27.1%

Participation rate

95.3%

49.4%+45.9pp

67.5%+27.8pp

67.2%+28.1pp

Annual return

13.74%

26.32%-12.6pp

66.75%-53.0pp

1370.56%-1356.8pp

Employer contribution / active EE

$5,281

$1,459+262.0%

$2,735+93.1%

$2,626+101.1%

Participant deferral / active EE

$2,751

$2,736+0.5%

$4,527-39.2%

$4,350-36.8%

Admin fee / account holder

$453

$2,215-79.5%

$6,165-92.6%

$1,946-76.7%

Provider

Service type

Compensation

SENTINEL PENSION ADVISORS7 years

Service code 15 · EIN 04-3422848

Recordkeeping

$39,020

SENTINEL PENSION ADVISORS7 years

Filed as: SENTINEL BENEFITS GROUP, LLC

Service code 15 · EIN 20-5916766

Recordkeeping

$32,913

CITRIN COOPERMAN6 years

Service code 10 · EIN 22-2428965

Accounting

$19,084

THE WORKPLACE, INC. 401K RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE WORKPLACE, INC. 401K RETIREMENT 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