Retirement plan

EMPOWER HR RETIREMENT SAVINGS PLAN

Name: EMPOWER HR, LLC - EMPOWER HR RETIREMENT SAVINGS PLAN (2016) Form 5500
Creator: EMPOWER HR, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EMPOWER HR RETIREMENT SAVINGS PLAN, EMPOWER HR, LLC

EMPOWER HR, LLCEIN 39-1962784Plan #333PY 2016

7927 NEMCO WAY, SUITE 200 - BRIGHTON, MI 48116847-818-0707empower-hour.comLinkedIn1-10 employeesindividual & family services

Prospect flagsLow returnsLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$49.1M

No prior year

Total participants

2,991

No prior year

Average account balance

$25,821

No prior year

Annual return

-32.32%

No prior year

Benchmarks

See 280 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort280 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$114.77M

Not enough data

1 years with asset history on file

Average account balance

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

$31K

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.

3,715

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.

20.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$14.22M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

-26.93%

Not enough data

1 years with return on file

Admin fee / account holder

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

$272

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 8 by compensation

Provider	Service type	Compensation
PINNACLE FINANCIAL SERVICES, INC.1+ years Filed as: PINNACLE FINANCIAL SERVICES Service code 15 · EIN 59-2438373	Recordkeeping	$82,877
LPL FINANCIAL1+ years Filed as: LPL FINANCIAL RPCP COMPENSATION PRO Service code 27 · EIN 04-3046611	Advisory (Plan)	$30,696
FREEBORN & PETERS1+ years Filed as: FREEBORN & PETERS- MICHAEL TOMESAK Service code 29 · EIN 36-3238755	Legal	$28,362
WITHUMSMITH+BROWN, PC1+ years Filed as: NEWPORT GROUP, INC ATTN JOHN BROWN Service code 10 · EIN 27-2037969	Accounting	$20,000
TOMASEK LAW OFFICE LLC1+ years Filed as: TOMASEK LAW OFFICES Service code 29 · EIN 81-2347682	Legal	$18,525
3(16) FIDUCIARY SERVICES CORP1+ years Service code 14 · EIN 45-4813650	Plan Administrator	$18,361
GOODWORTH KITCHIE- PAUL GOODWORTH1+ years Service code 27 · EIN 36-4089719	Advisory (Plan)	$5,964
PINNACLE FINANCIAL SERVICES, INC.1+ years Service code 15	Recordkeeping	$4,821

Plan features & details

Pension benefit codes2E2F2G2J2K2T3H

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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$400K

$169 / participant

Contract admin$400K100.0%

% of EOY assets

0.815%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: GRANT, MILLMAN & JOHNSON, P.C.
Auditor EIN: 382555519
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$25,821

$31,370-17.7%

$74,577-65.4%

$63,975-59.6%

Participation rate

53.9%

42.6%+11.3pp

68.1%-14.2pp

71.1%-17.2pp

Annual return

-32.32%

-105.16%+72.8pp

20.47%-52.8pp

48.65%-81.0pp

Employer contribution / active EE

$794

$822-3.5%

$2,525-68.6%

$2,182-63.6%

Participant deferral / active EE

$2,045

$1,560+31.1%

$3,458-40.9%

$3,356-39.1%

Admin fee / account holder

$211

$77+174.2%

$4,138-94.9%

$70+198.9%

Provider

Service type

Compensation

PINNACLE FINANCIAL SERVICES, INC.1+ years

Filed as: PINNACLE FINANCIAL SERVICES

Service code 15 · EIN 59-2438373

Recordkeeping

$82,877

LPL FINANCIAL1+ years

Filed as: LPL FINANCIAL RPCP COMPENSATION PRO

Service code 27 · EIN 04-3046611

Advisory (Plan)

$30,696

FREEBORN & PETERS1+ years

Filed as: FREEBORN & PETERS- MICHAEL TOMESAK

Service code 29 · EIN 36-3238755

Legal

$28,362

WITHUMSMITH+BROWN, PC1+ years

Filed as: NEWPORT GROUP, INC ATTN JOHN BROWN

Service code 10 · EIN 27-2037969

Accounting

$20,000

TOMASEK LAW OFFICE LLC1+ years

Filed as: TOMASEK LAW OFFICES

Service code 29 · EIN 81-2347682

Legal

$18,525

3(16) FIDUCIARY SERVICES CORP1+ years

Service code 14 · EIN 45-4813650

Plan Administrator

$18,361

GOODWORTH KITCHIE- PAUL GOODWORTH1+ years

Service code 27 · EIN 36-4089719

Advisory (Plan)

$5,964

PINNACLE FINANCIAL SERVICES, INC.1+ years

Service code 15

Recordkeeping

$4,821

EMPOWER HR RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EMPOWER HR RETIREMENT SAVINGS 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