Retirement plan

ASCENSUS SECURE RETIREMENT POOLED EMPLOYER PLAN

Name: NEWPORT GROUP, INC. - ASCENSUS SECURE RETIREMENT POOLED EMPLOYER PLAN (2023) Form 5500
Creator: NEWPORT GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ASCENSUS SECURE RETIREMENT POOLED EMPLOYER PLAN, NEWPORT GROUP, INC.

NEWPORT GROUP, INC.EIN 27-2037969Plan #002PY 2023

35 IRON POINT CIRCLE, SUITE 300 - FOLSOM, CA 95630844-749-9981newportlawgroup.orgLinkedIn1-10 employeeslaw practice

Other plans on this EIN

10 filings

#016Retirement-$347.2M assets #012Retirement-$291.7M assets #003Retirement-$127.8M assets #021Retirement-$67.5M assets #019Retirement-$56.9M assets #014Retirement-$39.7M assets #025Retirement-$30.7M assets #028Retirement-$23.4M assets #004Retirement-$21.7M assets #008Retirement-$17.1M assets

Prospect flagsLow participationLow assets / participantLow employer contributionLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$130.4M

+167.1% from 2022

Total participants

8,842

+104.2% from 2022

Average account balance

$29,370

+35.9% from 2022

Annual return

133.21%

+208.23 pp from 2022

Benchmarks

See 95 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants5,000-9,999

Cohort95 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$205.59M

Not enough data

1 years with asset history on file

Average account balance

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

$30K

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.

6,922

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.

48.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$37.67M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+39.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$181

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 11 by compensation

Provider	Service type	Compensation
NEWPORT GROUP, INC.2 years Service code 12 · EIN 27-2037969	Plan Administrator; Claims processing...	$355,480
LPL FINANCIAL1 year Service code 27 · EIN 95-2834236	Advisory (Plan)	$102,919
NEWPORT GROUP, INC.2 years Filed as: NEWPORT GROUP CONSULTING, LLC Service code 26 · EIN 20-4649925	Advisory (Participants)	$19,175
NEWPORT GROUP, INC.1 year Filed as: NEWPORT TRUST COMPANY Service code 21 · EIN 27-4411131	Bank Trustee	$18,362
TRACTION FINANCIAL PARTNERS1 year Service code 27 · EIN 84-2313719	Advisory (Plan)	$16,961
COMMONWEALTH FINANCIAL NETWORK1 year Service code 27 · EIN 01-0355124	Advisory (Plan)	$12,512
FORTUNE 360 GROUP, LLC1 year Service code 27 · EIN 47-3908589	Advisory (Plan)	$11,328
BLAKESLEE AND BLAKESLEE FINANCIAL A1 year Service code 27 · EIN 77-0017182	Advisory (Plan)	$11,215
NAPLES ASSET MANAGEMENT CO LLC1 year Filed as: NAPLES ASSET MANAGEMENT COMPANY, LL Service code 27 · EIN 20-2190247	Advisory (Plan)	$11,144
WHARTONHILL ADVISORS, LLC1 year Service code 27 · EIN 46-4410362	Advisory (Plan)	$10,511

Plan features & details

Pension benefit codes2A2E2F2G2J2K2S2T2W3B3D3F3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
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

6 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant 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.
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

$623K

$77 / participant

Recordkeeping$193K31.0%
Trustee / custodial$18K2.9%
Investment mgmt$249K39.9%
Contract admin$163K26.1%

% of EOY assets

0.477%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$29,370

$121,599-75.8%

$135,942-78.4%

$103,514-71.6%

Participation rate

45.5%

76.2%-30.7pp

81.9%-36.4pp

73.3%-27.8pp

Annual return

133.21%

26.09%+107.1pp

68.28%+64.9pp

33.12%+100.1pp

Employer contribution / active EE

$840

$4,627-81.8%

$4,858-82.7%

$3,210-73.8%

Participant deferral / active EE

$2,137

$7,782-72.5%

$7,759-72.5%

$5,209-59.0%

Admin fee / account holder

$140

$76+85.1%

$10,764-98.7%

$114+22.8%

Provider

Service type

Compensation

NEWPORT GROUP, INC.2 years

Service code 12 · EIN 27-2037969

Plan Administrator; Claims processing...

$355,480

LPL FINANCIAL1 year

Service code 27 · EIN 95-2834236

Advisory (Plan)

$102,919

NEWPORT GROUP, INC.2 years

Filed as: NEWPORT GROUP CONSULTING, LLC

Service code 26 · EIN 20-4649925

Advisory (Participants)

$19,175

NEWPORT GROUP, INC.1 year

Filed as: NEWPORT TRUST COMPANY

Service code 21 · EIN 27-4411131

Bank Trustee

$18,362

TRACTION FINANCIAL PARTNERS1 year

Service code 27 · EIN 84-2313719

Advisory (Plan)

$16,961

COMMONWEALTH FINANCIAL NETWORK1 year

Service code 27 · EIN 01-0355124

Advisory (Plan)

$12,512

FORTUNE 360 GROUP, LLC1 year

Service code 27 · EIN 47-3908589

Advisory (Plan)

$11,328

BLAKESLEE AND BLAKESLEE FINANCIAL A1 year

Service code 27 · EIN 77-0017182

Advisory (Plan)

$11,215

NAPLES ASSET MANAGEMENT CO LLC1 year

Filed as: NAPLES ASSET MANAGEMENT COMPANY, LL

Service code 27 · EIN 20-2190247

Advisory (Plan)

$11,144

WHARTONHILL ADVISORS, LLC1 year

Service code 27 · EIN 46-4410362

Advisory (Plan)

$10,511

ASCENSUS SECURE RETIREMENT POOLED EMPLOYER PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ASCENSUS SECURE RETIREMENT POOLED EMPLOYER 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