Retirement plan

THE CLEARING, INC. 401(K) PROFIT SHARING PLAN

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

THE CLEARING, INC.EIN 26-1287688Plan #001PY 2024

1250 CONNECTICUT AVENUE NORTHWEST, SUITE 625 - WASHINGTON, DC 20036202-558-6499LinkedIn51-200 employeesmanagement consulting

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$9.4M

+17.7% from 2023

Total participants

175

-5.9% from 2023

Average account balance

$58,777

+17.7% from 2023

Annual return

19.30%

+2.45 pp from 2023

Benchmarks

See 6,280 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,280 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.40M

Not enough data

1 years with asset history on file

Average account balance

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

$59K

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.

160

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.

86.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.47M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+19.30%

Not enough data

1 years with return on file

Admin fee / account holder

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

$459

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 5 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$49,068
GLOBAL RETIREMENT PARTNERS LLC3 years Filed as: GLOBAL RETIREMENT PARTNERS, LLC Service code 27 4340 REDWOOD HWY · SAN RAFAEL, CA 94903	Advisory (Plan)	$13,094
RETIREMENT BENEFIT SOLUTIONS3 years Filed as: RETIREMENT BENEFIT SOLUTIONS, LLC Service code 13 205 VAN BUREN ST · HERNDON, VA 20170	Contract Administrator	$10,427
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$9,769
THE LEADERS GROUP INC3 years Service code 55 26 W DRY CREEK CIR #575 · LITTLETON, CO 80120	Other Commissions	$5,680

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$73K

$680 / participant

Recordkeeping$49K66.8%
Contract admin$2K2.0%
Other / not subdivided$23K31.1%

% of EOY assets

0.781%

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: GRANT THORNTON
Auditor EIN: 366055558
Audit fees: $22,863
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$58,777

$101,653-42.2%

$147,080-60.0%

$74,459-21.1%

Participation rate

86.1%

75.6%+10.6pp

82.2%+3.9pp

67.2%+18.9pp

Annual return

19.30%

8754.98%-8735.7pp

420.17%-400.9pp

1369.70%-1350.4pp

Employer contribution / active EE

$4,188

$3,813+9.8%

$4,933-15.1%

$2,626+59.5%

Participant deferral / active EE

$9,405

$7,304+28.8%

$8,066+16.6%

$4,350+116.2%

Admin fee / account holder

$459

$1,752-73.8%

$12,989-96.5%

$1,945-76.4%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$49,068

GLOBAL RETIREMENT PARTNERS LLC3 years

Filed as: GLOBAL RETIREMENT PARTNERS, LLC

Service code 27

4340 REDWOOD HWY · SAN RAFAEL, CA 94903

Advisory (Plan)

$13,094

RETIREMENT BENEFIT SOLUTIONS3 years

Filed as: RETIREMENT BENEFIT SOLUTIONS, LLC

Service code 13

205 VAN BUREN ST · HERNDON, VA 20170

Contract Administrator

$10,427

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$9,769

THE LEADERS GROUP INC3 years

Service code 55

26 W DRY CREEK CIR #575 · LITTLETON, CO 80120

Other Commissions

$5,680

THE CLEARING, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE CLEARING, INC. 401(K) PROFIT SHARING 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