Retirement plan

EMPLOYEE BENEFIT PLAN OF FEARLESS SOLUTIONS, LLC

Name: FEARLESS SOLUTIONS, LLC - EMPLOYEE BENEFIT PLAN OF FEARLESS SOLUTIONS, LLC (2024) Form 5500
Creator: FEARLESS SOLUTIONS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EMPLOYEE BENEFIT PLAN OF FEARLESS SOLUTIONS, LLC, FEARLESS SOLUTIONS, LLC

FEARLESS SOLUTIONS, LLCEIN 26-4196689Plan #001PY 2024

8 MARKET PL STE 200 - BALTIMORE, MD 212024113410-394-9600

Prospect flagsHigh feesFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed March 20, 2022

Plan administrator

Plan administrator name— Sign in and upgrade to view

8 Market Place Floor 2

Baltimore, MD 21202

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Plans declared (1)

Fearless Deferred Compensation Plan7 emp

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Total assets (EOY)

$23M

+25.5% from 2023

Total participants

333

-1.8% from 2023

Average account balance

$70,597

+20.9% from 2023

Annual return

18.37%

-29.23 pp from 2023

Benchmarks

See 3,307 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,307 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$23.01M

Not enough data

1 years with asset history on file

Average account balance

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

$71K

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.

326

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.

97.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.87M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+18.37%

Not enough data

1 years with return on file

Admin fee / account holder

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

$306

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 6 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY1 year Filed as: PRINCIPAL LIFE INSURNACE COMPANY Service code 13 · EIN 42-0127290	Contract Administrator	$53,706
MERRILL LYNCH PIERCE FENNER & SMITH3 years Service code 17 · EIN 13-5674085	Pension Consulting	$46,046
COASTAL PENSION SERVICES2 years Filed as: COASTAL PENSION SERVICES INC Service code 49	Other Services	$8,660
COASTAL PENSION SERVICES1 year Service code 49 · EIN 52-1053785	Other Services	$0
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26	Advisory (Participants)	$0
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANGEMENT L Service code 26 · EIN 36-4317381	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.

Opportunity flags

3 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).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$100K

$387 / participant

Investment mgmt$20K20.1%
Contract admin$54K53.8%
Other / not subdivided$26K26.1%

% of EOY assets

0.433%

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: BDO USA, P.C.
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$70,597

$106,164-33.5%

$147,041-52.0%

$77,692-9.1%

Participation rate

97.3%

78.4%+18.9pp

82.2%+15.1pp

70.6%+26.7pp

Annual return

18.37%

56.81%-38.4pp

419.21%-400.8pp

31.25%-12.9pp

Employer contribution / active EE

$5,015

$4,066+23.3%

$4,935+1.6%

$2,726+83.9%

Participant deferral / active EE

$9,990

$7,993+25.0%

$8,071+23.8%

$4,648+114.9%

Admin fee / account holder

$306

$338-9.5%

$13,006-97.6%

$431-28.9%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY1 year

Filed as: PRINCIPAL LIFE INSURNACE COMPANY

Service code 13 · EIN 42-0127290

Contract Administrator

$53,706

MERRILL LYNCH PIERCE FENNER & SMITH3 years

Service code 17 · EIN 13-5674085

Pension Consulting

$46,046

COASTAL PENSION SERVICES2 years

Filed as: COASTAL PENSION SERVICES INC

Service code 49

Other Services

$8,660

COASTAL PENSION SERVICES1 year

Service code 49 · EIN 52-1053785

Other Services

MORNINGSTAR1 year

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L

Service code 26

Advisory (Participants)

MORNINGSTAR1 year

Filed as: MORNINGSTAR INVESTMENT MANGEMENT L

Service code 26 · EIN 36-4317381

Advisory (Participants)

EMPLOYEE BENEFIT PLAN OF FEARLESS SOLUTIONS, LLC

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

EMPLOYEE BENEFIT PLAN OF FEARLESS SOLUTIONS, LLC

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