Retirement plan

ESSENTIAL SOFTWARE RETIREMENT PLAN

Name: ESSENTIAL SOFTWARE, INC. - ESSENTIAL SOFTWARE RETIREMENT PLAN (2022) Form 5500
Creator: ESSENTIAL SOFTWARE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ESSENTIAL SOFTWARE RETIREMENT PLAN, ESSENTIAL SOFTWARE, INC.

ESSENTIAL SOFTWARE, INC.EIN 32-0178333Plan #001PY 2022

9711 WASHINGTONIAN BLVD, SUITE 550 - GAITHERSBURG, MD 20878240-706-7381LinkedIn51-200 employeesinformation technology and services

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2.7M

+9.8% from 2021

Total participants

+29.7% from 2021

Average account balance

$36,011

-12.5% from 2021

Annual return

-18.22%

-52.72 pp from 2021

Benchmarks

See 28,001 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,001 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.98M

Not enough data

1 years with asset history on file

Average account balance

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

$64K

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.

102.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.03M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+15.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8600

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 codes2E2F2G2J3D

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.
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

$93K

$1428 / participant

Other / not subdivided$93K100.0%

% of EOY assets

3.483%

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

$36,011

$82,674-56.4%

$125,381-71.3%

$68,486-47.4%

Participation rate

86.2%

75.1%+11.1pp

82.4%+3.8pp

67.9%+18.3pp

Annual return

-18.22%

-5.97%-12.2pp

572.31%-590.5pp

-7.85%-10.4pp

Employer contribution / active EE

$3,296

$3,382-2.5%

$4,815-31.5%

$2,597+26.9%

Participant deferral / active EE

$8,593

$6,111+40.6%

$7,448+15.4%

$4,028+113.4%

Admin fee / account holder

$1,254

$6,277-80.0%

$10,007-87.5%

$5,404-76.8%

ESSENTIAL SOFTWARE RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ESSENTIAL SOFTWARE 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