Retirement plan

INNOVATION WORKS, INC. 403(B) DEFINED CONTRIBUTION RETIREMENT PLAN

Name: INNOVATION WORKS, INC. - INNOVATION WORKS, INC. 403(B) DEFINED CONTRIBUTION RETIREMENT PLAN (2024) Form 5500
Creator: INNOVATION WORKS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INNOVATION WORKS, INC. 403(B) DEFINED CONTRIBUTION RETIREMENT PLAN, INNOVATION WORKS, INC.

INNOVATION WORKS, INC.EIN 25-1588611Plan #001PY 2024

TWO ALLEGHENY CENTER STE 100 - PITTSBURGH, PA 15212412-681-1520innovationworks.orgLinkedIn11-50 employeesventure capital & private equity

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$9.8M

+5.1% from 2023

Total participants

0.0% from 2023

Average account balance

$182,279

+5.1% from 2023

Annual return

12.81%

+0.26 pp from 2023

Benchmarks

See 10,680 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort10,680 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.84M

Not enough data

1 years with asset history on file

Average account balance

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

$182K

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.

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.

138.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$859K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$22K

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

+12.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

$29770

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2F2G2M2T3D

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.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$1.6M

$41220 / participant

Other / not subdivided$2M100.0%

% of EOY assets

16.332%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$182,279

$58,241+213.0%

$81,780+122.9%

$80,911+125.3%

Participation rate

100.0%

63.4%+36.6pp

72.4%+27.6pp

67.6%+32.4pp

Annual return

12.81%

41.73%-28.9pp

776.27%-763.5pp

35.63%-22.8pp

Employer contribution / active EE

$12,845

$2,343+448.1%

$2,914+340.8%

$2,756+366.1%

Participant deferral / active EE

$9,170

$3,283+179.4%

$4,321+112.2%

$4,297+113.4%

Admin fee / account holder

$29,770

$4,973+498.6%

$7,384+303.2%

$6,935+329.3%

INNOVATION WORKS, INC. 403(B) DEFINED CONTRIBUTION RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INNOVATION WORKS, INC. 403(B) DEFINED CONTRIBUTION 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