Retirement plan

NEWDAY USA RETIREMENT PLAN

Name: NEWDAY USA - NEWDAY USA RETIREMENT PLAN (2020) Form 5500
Creator: NEWDAY USA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NEWDAY USA RETIREMENT PLAN, NEWDAY USA

NEWDAY USAEIN 22-3887207Plan #003PY 2020

8160 MAPLE LAWN BLVD, SUITE 300 - FULTON, MD 20759877-423-1400newdayfinancialadvisors.comLinkedIn1-10 employeesfinancial services

Prospect flagsLow returnsLow assets / participantLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$21.6M

+15.3% from 2019

Total participants

703

+24.4% from 2019

Average account balance

$32,358

-8.3% from 2019

Annual return

11.40%

-11.85 pp from 2019

Benchmarks

See 1,455 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,455 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$26.61M

Not enough data

1 years with asset history on file

Average account balance

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

$51K

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.

522

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.

93.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.39M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+14.08%

Not enough data

1 years with return on file

Admin fee / account holder

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

$186

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 10 of 16 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Service code 49 · EIN 04-1590850	Other Services	$110,932
KESTRA INVESTMENT SERVICES LLC4 years Filed as: KESTRA ADVISORY SERVICES LLC Service code 27 · EIN 35-2552359	Advisory (Plan)	$43,637
AMERICAN CENTURY2 years Service code 52 · EIN 43-1646043	Indirect Investment Fees	$0
AMERICAN FUNDS4 years Service code 52 · EIN 95-6799669	Indirect Investment Fees	$0
BLACKROCK4 years Service code 52 · EIN 13-3806694	Indirect Investment Fees	$0
COHEN & STEERS4 years Service code 52 · EIN 14-1904657	Indirect Investment Fees	$0
FRANKLIN TEMPLETON4 years Filed as: FRANKLINTEMPLETON Service code 52 · EIN 59-6865210	Indirect Investment Fees	$0
GOLDMAN SACHS4 years Service code 52 · EIN 13-4166989	Indirect Investment Fees	$0
INVESCO2 years Service code 52 · EIN 22-2725700	Indirect Investment Fees	$0
JANUS HENDERSON2 years Service code 52 · EIN 84-0592523	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3D3H2S2T

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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 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.
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

$111K

$216 / participant

Investment mgmt$100K89.8%
Contract admin$11K10.2%

% of EOY assets

0.515%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: ROSEN, SAPPERSTEIN AND FRIEDLANDER
Auditor EIN: 475153865
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$32,358

$111,608-71.0%

$177,848-81.8%

$73,412-55.9%

Participation rate

92.8%

87.9%+4.9pp

87.7%+5.1pp

72.2%+20.6pp

Annual return

11.40%

18.23%-6.8pp

48.33%-36.9pp

59.30%-47.9pp

Employer contribution / active EE

$761

$3,796-80.0%

$5,919-87.1%

$2,234-65.9%

Participant deferral / active EE

$5,717

$6,199-7.8%

$7,714-25.9%

$3,806+50.2%

Admin fee / account holder

$167

$166+0.6%

$12,431-98.7%

$158+5.5%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Service code 49 · EIN 04-1590850

Other Services

$110,932

KESTRA INVESTMENT SERVICES LLC4 years

Filed as: KESTRA ADVISORY SERVICES LLC

Service code 27 · EIN 35-2552359

Advisory (Plan)

$43,637

AMERICAN CENTURY2 years

Service code 52 · EIN 43-1646043

Indirect Investment Fees

AMERICAN FUNDS4 years

Service code 52 · EIN 95-6799669

Indirect Investment Fees

BLACKROCK4 years

Service code 52 · EIN 13-3806694

Indirect Investment Fees

COHEN & STEERS4 years

Service code 52 · EIN 14-1904657

Indirect Investment Fees

FRANKLIN TEMPLETON4 years

Filed as: FRANKLINTEMPLETON

Service code 52 · EIN 59-6865210

Indirect Investment Fees

GOLDMAN SACHS4 years

Service code 52 · EIN 13-4166989

Indirect Investment Fees

INVESCO2 years

Service code 52 · EIN 22-2725700

Indirect Investment Fees

JANUS HENDERSON2 years

Service code 52 · EIN 84-0592523

Indirect Investment Fees

NEWDAY USA RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NEWDAY USA 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