Retirement plan

HEXAWARE TECHNOLOGIES, INCORPORATED RETIREMENT PLAN

Name: HEXAWARE TECHNOLOGIES, INCORPORATED - HEXAWARE TECHNOLOGIES, INCORPORATED RETIREMENT PLAN (2024) Form 5500
Creator: HEXAWARE TECHNOLOGIES, INCORPORATED
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HEXAWARE TECHNOLOGIES, INCORPORATED RETIREMENT PLAN, HEXAWARE TECHNOLOGIES, INCORPORATED

HEXAWARE TECHNOLOGIES, INCORPORATEDEIN 22-3301374Plan #001PY 2024

101 WOOD AVENUE SOUTH, SUITE 600 - ISELIN, NJ 08830609-409-6950

Prospect flagsLow participationLow assets / participantLow employer contributionCorrective distributions

Top hat statement on fileNQDC

Filed December 22, 2020

Plan administrator

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101 S. Wood Ave, #600

Isselin, NJ 08830

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Plans declared (1)

Nonqualified Deferred Compensation Plan36 emp

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Total assets (EOY)

$34.7M

+27.4% from 2023

Total participants

2,108

+11.0% from 2023

Average account balance

$38,724

-2.6% from 2023

Annual return

17.36%

-0.37 pp from 2023

Benchmarks

See 951 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort951 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$55.02M

Not enough data

1 years with asset history on file

Average account balance

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

$49K

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.

1,113

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.

34.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$9.24M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+45.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$227

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INS CO OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$109,476
MMA SECURITIES LLC8 years Service code 55 PO BOX 9497 · NEW YORK, NY 10087	Other Commissions	$71,432
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ADVISORY GROUP Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$68,657
EPIC RETIREMENT PLAN SERVICES6 years Filed as: BENCHMARK RETIREMENT PLAN SVCS Service code 13 2215 PLANK ROAD STE 249 · FREDERICKSBURG, VA 22401	Contract Administrator	$16,580
ENVESTNET RETIREMENT SOLUTIONS, LLC8 years Service code 27 1801 CALIFORNIA STREET · DENVER, CO 80202	Advisory (Plan)	$6,034

Plan features & details

Pension benefit codes2F2G2J2K2T3D3H

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.
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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$189K

$101 / participant

Contract admin$189K100.0%

% of EOY assets

0.545%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: PRICEKUBECKA PLLC
Auditor EIN: 752783674
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$38,724

$122,186-68.3%

$146,958-73.6%

$199,593-80.6%

Participation rate

35.5%

78.3%-42.8pp

82.2%-46.6pp

72.0%-36.4pp

Annual return

17.36%

30.56%-13.2pp

418.34%-401.0pp

34.25%-16.9pp

Employer contribution / active EE

$171

$4,093-95.8%

$4,933-96.5%

$3,034-94.4%

Participant deferral / active EE

$3,787

$8,502-55.5%

$8,070-53.1%

$5,087-25.5%

Admin fee / account holder

$211

$179+18.0%

$12,998-98.4%

$269-21.6%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INS CO OF AMERICA

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$109,476

MMA SECURITIES LLC8 years

Service code 55

PO BOX 9497 · NEW YORK, NY 10087

Other Commissions

$71,432

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ADVISORY GROUP

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$68,657

EPIC RETIREMENT PLAN SERVICES6 years

Filed as: BENCHMARK RETIREMENT PLAN SVCS

Service code 13

2215 PLANK ROAD STE 249 · FREDERICKSBURG, VA 22401

Contract Administrator

$16,580

ENVESTNET RETIREMENT SOLUTIONS, LLC8 years

Service code 27

1801 CALIFORNIA STREET · DENVER, CO 80202

Advisory (Plan)

$6,034

HEXAWARE TECHNOLOGIES, INCORPORATED RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HEXAWARE TECHNOLOGIES, INCORPORATED RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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