Retirement plan

BRIGHTSTAR CORP. 401(K) PLAN

Name: BRIGHTSTAR CORP. - BRIGHTSTAR CORP. 401(K) PLAN (2020) Form 5500
Creator: BRIGHTSTAR CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BRIGHTSTAR CORP. 401(K) PLAN, BRIGHTSTAR CORP.

BRIGHTSTAR CORP.EIN 33-0774267Plan #001PY 2020

9725 NW, 117TH AVENUE SUITE 300 - MIAMI, FL 33178305-421-6000likewize.comLinkedIn1001-5000 employeesinsurance

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$65.2M

+1.8% from 2019

Total participants

1,056

-20.7% from 2019

Average account balance

$75,854

+19.6% from 2019

Annual return

15.17%

-10.06 pp from 2019

Benchmarks

See 2,819 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort2,819 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$56.51M

Not enough data

1 years with asset history on file

Average account balance

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

$94K

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.

603

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.

59.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.22M

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

+15.99%

Not enough data

1 years with return on file

Admin fee / account holder

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

$128

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 4 by compensation

Provider	Service type	Compensation
MERCER1 year Filed as: MERCER INVESTMENT MANAGEMENT INC Service code 27 21875 NETWORK PL · CHICAGO, IL 606731218	Advisory (Plan)	$60,450
JPMORGAN INVEST HOLDINGS LLC2 years Service code 64 · EIN 13-2624428	Recordkeeping Fees	$14,984
MMCSC BOSTONIAN GROUP DIVISION3 years Filed as: MMCSC Service code 27 1166 AVE OF THE AMERICAS 22ND FL · NEW YORK, NY 10036	Advisory (Plan)	$7,500
WITHUMSMITH+BROWN, PC1 year Filed as: MORRISON BROWN ARGIZ & FARRA LLC Service code 10 1450 BRICKELL AVE STE 1800 · MIAMI, FL 33131	Accounting	$7,000

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$90K

$151 / participant

Contract admin$90K100.0%

% of EOY assets

0.138%

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: BDO USA LLP
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$75,854

$100,801-24.7%

$149,715-49.3%

$73,412+3.3%

Participation rate

66.9%

77.7%-10.8pp

82.5%-15.6pp

72.2%-5.3pp

Annual return

15.17%

265.34%-250.2pp

276.66%-261.5pp

59.30%-44.1pp

Employer contribution / active EE

$2,178

$3,312-34.2%

$4,645-53.1%

$2,234-2.5%

Participant deferral / active EE

$6,898

$6,404+7.7%

$6,842+0.8%

$3,806+81.3%

Admin fee / account holder

$105

$181-42.1%

$9,310-98.9%

$158-33.7%

Provider

Service type

Compensation

MERCER1 year

Filed as: MERCER INVESTMENT MANAGEMENT INC

Service code 27

21875 NETWORK PL · CHICAGO, IL 606731218

Advisory (Plan)

$60,450

JPMORGAN INVEST HOLDINGS LLC2 years

Service code 64 · EIN 13-2624428

Recordkeeping Fees

$14,984

MMCSC BOSTONIAN GROUP DIVISION3 years

Filed as: MMCSC

Service code 27

1166 AVE OF THE AMERICAS 22ND FL · NEW YORK, NY 10036

Advisory (Plan)

$7,500

WITHUMSMITH+BROWN, PC1 year

Filed as: MORRISON BROWN ARGIZ & FARRA LLC

Service code 10

1450 BRICKELL AVE STE 1800 · MIAMI, FL 33131

Accounting

$7,000

BRIGHTSTAR CORP. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BRIGHTSTAR CORP. 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