Retirement plan

NEXTECH PROFESSIONAL SERVICES 401(K) PLAN

Name: NEXTECH PROFESSIONAL SERVICES - NEXTECH PROFESSIONAL SERVICES 401(K) PLAN (2022) Form 5500
Creator: NEXTECH PROFESSIONAL SERVICES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NEXTECH PROFESSIONAL SERVICES 401(K) PLAN, NEXTECH PROFESSIONAL SERVICES

NEXTECH PROFESSIONAL SERVICESEIN 38-3210686Plan #002PY 2022

8481 W 10 MILE RD, SUITE 202 - SOUTHFIELD, MI 48075248-416-1700LinkedIn11-50 employees

Prospect flagsLow participationLow employer contribution

How to read this page

Total assets (EOY)

$52K

+2.6% from 2021

Total participants

+42.9% from 2021

Average account balance

$52,474

+2.6% from 2021

Annual return

-16.30%

-32.32 pp from 2021

Benchmarks

See 17,020 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants<25

Cohort17,020 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.10M

Not enough data

1 years with asset history on file

Average account balance

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

$33K

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.

88.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$516K

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

+70.15%

Not enough data

1 years with return on file

Admin fee / account holder

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

$850

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 codes2E2J2F2G3D3H

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.
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.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$172

$172 / participant

Other / not subdivided$172100.0%

% of EOY assets

0.328%

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

$52,474

$93,124-43.7%

$77,100-31.9%

$134,545-61.0%

Participation rate

0.0%

74.5%-74.5pp

67.9%-67.9pp

81.2%-81.2pp

Annual return

-16.30%

62.68%-79.0pp

42.35%-58.7pp

418.37%-434.7pp

Employer contribution / active EE

$3,421-100.0%

$2,815-100.0%

$4,742-100.0%

Participant deferral / active EE

$10,000

$5,242+90.8%

$4,430+125.8%

$6,401+56.2%

Admin fee / account holder

$172

$6,970-97.5%

$5,443-96.8%

$11,431-98.5%

NEXTECH PROFESSIONAL SERVICES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NEXTECH PROFESSIONAL SERVICES 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