Retirement plan

THE IT WORKS! GLOBAL 401(K) RETIREMENT & PROFIT SHARING PLAN

Name: IT WORKS MARKETING, INC. - THE IT WORKS! GLOBAL 401(K) RETIREMENT & PROFIT SHARING PLAN (2023) Form 5500
Creator: IT WORKS MARKETING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE IT WORKS! GLOBAL 401(K) RETIREMENT & PROFIT SHARING PLAN, IT WORKS MARKETING, INC.

IT WORKS MARKETING, INC.EIN 38-3593692Plan #001PY 2023

908 RIVERSIDE DRIVE - PALMETTO, FL 34221941-799-6774

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$11.4M

+15.1% from 2022

Total participants

180

+2.9% from 2022

Average account balance

$72,747

+11.5% from 2022

Annual return

19.01%

+36.82 pp from 2022

Benchmarks

See 503 peers

Peer group

Industry45 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort503 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.42M

Not enough data

1 years with asset history on file

Average account balance

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

$84K

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.

136

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.

85.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$886K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+17.29%

Not enough data

1 years with return on file

Admin fee / account holder

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

$416

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INS CO OF AMERICA Service code 64 · EIN 84-0467907 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$23,778
HUNTINGTON NATIONAL BANK7 years Service code 27 41 S HIGH ST · COLUMBUS, OH 43215	Advisory (Plan)	$15,024
ONEDIGITAL INVESTMENT ADVISORS LLC1 year Service code 27 PO BOX 735399 · DALLAS, TX 753735399	Advisory (Plan)	$11,023
JOSEPH LINCK DBA LINCK LAW PLC7 years Service code 13 · EIN 02-0600416 678 FRONT AVE NW STE 330 · GRAND RAPIDS, MI 49504	Contract Administrator	$10,200

Plan features & details

Pension benefit codes2E2J2K2F2G2R3D3H

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

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

$55K

$400 / participant

Recordkeeping$24K43.4%
Investment mgmt$26K47.2%
Contract admin$5K9.4%

% of EOY assets

0.483%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HALLOWELL 401(K) ASSURANCE, LLC
Auditor EIN: 921789763
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$72,747

$51,283+41.9%

$95,728-24.0%

$71,495+1.8%

Participation rate

83.3%

63.1%+20.2pp

72.3%+11.1pp

67.9%+15.4pp

Annual return

19.01%

25.25%-6.2pp

28.40%-9.4pp

28.85%-9.8pp

Employer contribution / active EE

$1,817-100.0%

$2,835-100.0%

$2,589-100.0%

Participant deferral / active EE

$6,696

$3,365+99.0%

$4,245+57.7%

$4,291+56.1%

Admin fee / account holder

$352

$1,135-69.0%

$5,673-93.8%

$1,588-77.8%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INS CO OF AMERICA

Service code 64 · EIN 84-0467907

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$23,778

HUNTINGTON NATIONAL BANK7 years

Service code 27

41 S HIGH ST · COLUMBUS, OH 43215

Advisory (Plan)

$15,024

ONEDIGITAL INVESTMENT ADVISORS LLC1 year

Service code 27

PO BOX 735399 · DALLAS, TX 753735399

Advisory (Plan)

$11,023

JOSEPH LINCK DBA LINCK LAW PLC7 years

Service code 13 · EIN 02-0600416

678 FRONT AVE NW STE 330 · GRAND RAPIDS, MI 49504

Contract Administrator

$10,200

THE IT WORKS! GLOBAL 401(K) RETIREMENT & PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE IT WORKS! GLOBAL 401(K) RETIREMENT & PROFIT SHARING 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