Retirement plan

SILVERLAKE WEALTH MANAGEMENT, LLC 401(K) PLAN

Name: SILVERLAKE WEALTH MANAGEMENT, LLC - SILVERLAKE WEALTH MANAGEMENT, LLC 401(K) PLAN (2023) Form 5500
Creator: SILVERLAKE WEALTH MANAGEMENT, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SILVERLAKE WEALTH MANAGEMENT, LLC 401(K) PLAN, SILVERLAKE WEALTH MANAGEMENT, LLC

SILVERLAKE WEALTH MANAGEMENT, LLCEIN 37-1426342Plan #001PY 2023

33 BLAIR PARK ROAD, SUITE 100 - WILLISTON, VT 054957532802-229-6353silverlakewealth.comLinkedIn1-10 employeesfinancial services

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2.5M

+12.3% from 2022

Total participants

+10.0% from 2022

Average account balance

$245,794

+12.3% from 2022

Annual return

14.03%

+25.94 pp from 2022

Benchmarks

See 36,180 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort36,180 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.72M

Not enough data

1 years with asset history on file

Average account balance

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

$272K

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.

90.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$237K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$22K

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

+11.59%

Not enough data

1 years with return on file

Admin fee / account holder

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

$66220

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 codes2E2F2G2J2T3B3D2R

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.

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

$274K

$27383 / participant

Other / not subdivided$274K100.0%

% of EOY assets

11.141%

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

$245,794

$185,856+32.2%

$170,028+44.6%

$139,456+76.3%

Participation rate

90.0%

87.8%+2.2pp

87.0%+3.0pp

80.3%+9.7pp

Annual return

14.03%

60.52%-46.5pp

53.39%-39.4pp

373.45%-359.4pp

Employer contribution / active EE

$7,023

$7,593-7.5%

$6,788+3.5%

$4,753+47.8%

Participant deferral / active EE

$16,647

$11,623+43.2%

$10,409+59.9%

$6,711+148.0%

Admin fee / account holder

$27,383

$15,387+78.0%

$12,820+113.6%

$11,407+140.1%

SILVERLAKE WEALTH MANAGEMENT, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SILVERLAKE WEALTH MANAGEMENT, LLC 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