Retirement plan

AVAYA INC. SAVINGS PLAN FOR SALARIED EMPLOYEES

Name: AVAYA INC. - AVAYA INC. SAVINGS PLAN FOR SALARIED EMPLOYEES (2023) Form 5500
Creator: AVAYA INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AVAYA INC. SAVINGS PLAN FOR SALARIED EMPLOYEES, AVAYA INC.

AVAYA INC.EIN 22-3713430Plan #003PY 2023

350 MOUNT KEMBLE AVENUE - MORRISTOWN, NJ 07960908-953-2385avaya.comLinkedIn5001-10000 employeescomputer software

Other plans on this EIN

2 filings

#002Retirement-$678.0M assets #004Retirement-$160.8M assets

Prospect flagsLow returnsHigh assets / participantLow employer contributionFailed to provide benefitCorrective distributions

Top hat statement on fileNQDC

Filed March 12, 2004 (most recent of 2 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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How to read this page

Total assets (EOY)

$1397M

+2.9% from 2022

Total participants

5,450

-8.8% from 2022

Average account balance

$259,721

+13.2% from 2022

Annual return

16.77%

+32.42 pp from 2022

Benchmarks

See 175 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants1,000-4,999

Cohort175 peers

Snapshot2023

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Analytics

Total assets (EOY)

Plan-year ending balance

$1.41B

Not enough data

1 years with asset history on file

Average account balance

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

$286K

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.

4,923

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.

97.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$23.62M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$24K

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

+14.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$118

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
STRATEGIC ADVISORS, INC.8 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$364,118
SAGEVIEW ADVISORY GROUP, LLC5 years Filed as: SAGEVIEW ADVISORY GROUP LLC Service code 16 · EIN 33-0818667	Consulting	$168,360
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	$77,742
CROWE LLP6 years Filed as: CROWE HORWATH LLP Service code 10 · EIN 35-0921680	Accounting	$49,985
KING & SPALDING LLP8 years Service code 29 · EIN 58-0520153	Legal	$21,322

Plan features & details

Pension benefit codes2F2G2J2K2T2R2E

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.
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.

Opportunity flags

5 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$680K

$466 / participant

Recordkeeping$77K11.3%
Investment mgmt$364K53.5%
Legal$21K3.1%
Other / not subdivided$218K32.1%

% of EOY assets

0.049%

all-in expense ratio

Categories reported

3 / 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: CROWE LLP
Auditor EIN: 350921680
Audit fees: $49,985
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$259,721

$103,918+149.9%

$94,646+174.4%

$80,160+224.0%

Participation rate

95.1%

85.8%+9.3pp

80.8%+14.3pp

72.9%+22.2pp

Annual return

16.77%

27.77%-11.0pp

156.71%-139.9pp

40.38%-23.6pp

Employer contribution / active EE

$3,539-100.0%

$3,672-100.0%

$2,978-100.0%

Participant deferral / active EE

$15,124

$9,528+58.7%

$7,418+103.9%

$5,017+201.4%

Admin fee / account holder

$126

$96+31.2%

$7,231-98.3%

$145-12.7%

Provider

Service type

Compensation

STRATEGIC ADVISORS, INC.8 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$364,118

SAGEVIEW ADVISORY GROUP, LLC5 years

Filed as: SAGEVIEW ADVISORY GROUP LLC

Service code 16 · EIN 33-0818667

Consulting

$168,360

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

$77,742

CROWE LLP6 years

Filed as: CROWE HORWATH LLP

Service code 10 · EIN 35-0921680

Accounting

$49,985

KING & SPALDING LLP8 years

Service code 29 · EIN 58-0520153

Legal

$21,322

AVAYA INC. SAVINGS PLAN FOR SALARIED EMPLOYEES

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AVAYA INC. SAVINGS PLAN FOR SALARIED EMPLOYEES

Top hat statement on fileNQDC

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