Retirement plan

SPINE WAVE, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Name: SPINE WAVE, INC. - SPINE WAVE, INC. 401(K) PROFIT SHARING PLAN AND TRUST (2024) Form 5500
Creator: SPINE WAVE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPINE WAVE, INC. 401(K) PROFIT SHARING PLAN AND TRUST, SPINE WAVE, INC.

SPINE WAVE, INC.EIN 33-0954246Plan #001PY 2024

3 ENTERPRISE DRIVE, SUITE 210 - SHELTON, CT 06484203-712-1810spinewave.comLinkedIn51-200 employeesmedical devices

Prospect flagsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$26.3M

+11.7% from 2023

Total participants

115

-12.9% from 2023

Average account balance

$229,018

+28.3% from 2023

Annual return

13.49%

-4.88 pp from 2023

Benchmarks

See 14,154 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,154 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$26.34M

Not enough data

1 years with asset history on file

Average account balance

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

$229K

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.

115

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.09M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

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

+13.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$340

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
FIDELITY INVESTMENTS INSTITUTIONAL10+ years Service code 37 · EIN 04-2647786	Loan Processing	$20,753
MERRILL LYNCH PIERCE FENNER & SMITH1 year Filed as: MERRILLLYNCH Service code 26 · EIN 13-5674085	Advisory (Participants)	$18,333

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$39K

$662 / participant

Recordkeeping$21K53.1%
Other / not subdivided$18K46.9%

% of EOY assets

0.148%

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: COHNREZNICK LLP
Auditor EIN: 334144829
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$229,018

$86,949+163.4%

$102,460+123.5%

$80,959+182.9%

Participation rate

100.0%

72.4%+27.6pp

76.5%+23.5pp

67.7%+32.3pp

Annual return

13.49%

18.89%-5.4pp

29.47%-16.0pp

35.67%-22.2pp

Employer contribution / active EE

$3,928

$2,370+65.8%

$3,025+29.8%

$2,757+42.5%

Participant deferral / active EE

$14,515

$4,121+252.2%

$5,056+187.1%

$4,300+237.5%

Admin fee / account holder

$340

$8,048-95.8%

$9,460-96.4%

$6,925-95.1%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL10+ years

Service code 37 · EIN 04-2647786

Loan Processing

$20,753

MERRILL LYNCH PIERCE FENNER & SMITH1 year

Filed as: MERRILLLYNCH

Service code 26 · EIN 13-5674085

Advisory (Participants)

$18,333

SPINE WAVE, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPINE WAVE, INC. 401(K) PROFIT SHARING PLAN AND TRUST

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