Retirement plan

LUTZ FINANCIAL POOLED EMPLOYER PLAN

Name: NEWPORT GROUP, INC. - LUTZ FINANCIAL POOLED EMPLOYER PLAN (2022) Form 5500
Creator: NEWPORT GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LUTZ FINANCIAL POOLED EMPLOYER PLAN, NEWPORT GROUP, INC.

NEWPORT GROUP, INC.EIN 27-2037969Plan #012PY 2022

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

Other plans on this EIN

10 filings

#016Retirement-$135.9M assets #003Retirement-$104.7M assets #002Retirement-$48.8M assets #014Retirement-$24.7M assets #019Retirement-$21.3M assets #004Retirement-$14.7M assets #008Retirement-$10.9M assets #018Retirement-$10.0M assets #009Retirement-$9.9M assets #007Retirement-$5.4M assets

Prospect flagsHigh feesLow participationHigh assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$175.8M

+66.2% from 2021

Total participants

3,386

+189.4% from 2021

Average account balance

$340,038

+241.4% from 2021

Annual return

59.46%

+59.46 pp from 2021

Benchmarks

See 900 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort900 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$368.64M

Not enough data

1 years with asset history on file

Average account balance

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

$76K

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.

4,822

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.

74.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$33.92M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+21.06%

Not enough data

1 years with return on file

Admin fee / account holder

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

$229

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 3 by compensation

Provider	Service type	Compensation
LUTZ FINANCIAL1 year Service code 27 13616 CALIFORNIA ST · OMAHA, NE 68154	Advisory (Plan)	$184,043
NEWPORT GROUP, INC.1 year Service code 13 · EIN 27-2037969	Contract Administrator	$150,395
NEWPORT GROUP, INC.1 year Filed as: NEWPORT TRUST COMPANY Service code 21 · EIN 27-4411131	Bank Trustee	$27,900

Plan features & details

Pension benefit codes2A2E2F2G2J2K2S2T2W3B3D3H

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.
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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$362K

$132 / participant

Investment mgmt$184K50.8%
Contract admin$150K41.5%
Other / not subdivided$28K7.7%

% of EOY assets

0.206%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$340,038

$95,388+256.5%

$125,381+171.2%

$77,906+336.5%

Participation rate

0.0%

78.6%-78.6pp

82.4%-82.4pp

73.7%-73.7pp

Annual return

59.46%

116.19%-56.7pp

572.31%-512.8pp

12.16%+47.3pp

Employer contribution / active EE

$2,034

$3,666-44.5%

$4,815-57.8%

$2,846-28.5%

Participant deferral / active EE

$3,196

$7,711-58.5%

$7,448-57.1%

$4,805-33.5%

Admin fee / account holder

$701

$119+489.7%

$10,007-93.0%

$133+428.6%

Provider

Service type

Compensation

LUTZ FINANCIAL1 year

Service code 27

13616 CALIFORNIA ST · OMAHA, NE 68154

Advisory (Plan)

$184,043

NEWPORT GROUP, INC.1 year

Service code 13 · EIN 27-2037969

Contract Administrator

$150,395

NEWPORT GROUP, INC.1 year

Filed as: NEWPORT TRUST COMPANY

Service code 21 · EIN 27-4411131

Bank Trustee

$27,900

LUTZ FINANCIAL POOLED EMPLOYER PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LUTZ FINANCIAL 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