Retirement plan

INDEPENDENT OPTIONS, INC. PROFIT SHARING 401(K) PLAN

Name: INDEPENDENT OPTIONS, INC. - INDEPENDENT OPTIONS, INC. PROFIT SHARING 401(K) PLAN (2023) Form 5500
Creator: INDEPENDENT OPTIONS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INDEPENDENT OPTIONS, INC. PROFIT SHARING 401(K) PLAN, INDEPENDENT OPTIONS, INC.

INDEPENDENT OPTIONS, INC.EIN 33-0048519Plan #001PY 2023

391 CORPORATE TERRACE CIRCLE, SUITE 102 - CORONA, CA 92879951-279-2585independentoptions.orgLinkedIn201-500 employeesindividual & family services

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$5.9M

+22.5% from 2022

Total participants

369

+1.1% from 2022

Average account balance

$30,450

+16.8% from 2022

Annual return

14.31%

+32.29 pp from 2022

Benchmarks

See 4,038 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,038 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.01M

Not enough data

1 years with asset history on file

Average account balance

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

$40K

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.

202

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.

45.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$648K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+9.87%

Not enough data

1 years with return on file

Admin fee / account holder

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

$126

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 2 by compensation

Provider	Service type	Compensation
STUART J. SCHNEIDER, CPA2 years Service code 10 · EIN 47-4860180	Accounting	$9,500
JOHN HANCOCK LIFE INSURANCE COMPANY8+ years Filed as: JOHN HANCOCK USA Service code 15 · EIN 01-0233346	Recordkeeping	$0

Plan features & details

Pension benefit codes2E2G2J2K3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$25K

$76 / participant

Contract admin$16K62.6%
Other / not subdivided$10K37.4%

% of EOY assets

0.430%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: STUART J. SCHNEIDER, CPA
Auditor EIN: 474860180
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$30,450

$47,163-35.4%

$149,696-79.7%

$74,460-59.1%

Participation rate

47.4%

63.4%-16.0pp

78.8%-31.3pp

70.7%-23.3pp

Annual return

14.31%

22.75%-8.4pp

134.46%-120.1pp

34.38%-20.1pp

Employer contribution / active EE

$471

$1,907-75.3%

$4,821-90.2%

$2,638-82.2%

Participant deferral / active EE

$1,219

$2,730-55.4%

$5,682-78.6%

$4,530-73.1%

Admin fee / account holder

$131

$343-61.8%

$13,212-99.0%

$348-62.4%

Provider

Service type

Compensation

STUART J. SCHNEIDER, CPA2 years

Service code 10 · EIN 47-4860180

Accounting

$9,500

JOHN HANCOCK LIFE INSURANCE COMPANY8+ years

Filed as: JOHN HANCOCK USA

Service code 15 · EIN 01-0233346

Recordkeeping

INDEPENDENT OPTIONS, INC. PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INDEPENDENT OPTIONS, INC. PROFIT SHARING 401(K) 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