Retirement plan

EMPOWER HR RETIREMENT SAVINGS PLAN

Name: EMPOWER HR, LLC - EMPOWER HR RETIREMENT SAVINGS PLAN (2019) 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 2019

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

Prospect flagsLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$90.8M

+67.5% from 2018

Total participants

6,032

+37.1% from 2018

Average account balance

$28,405

+32.4% from 2018

Annual return

59.51%

+66.20 pp from 2018

Benchmarks

See 291 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort291 peers

Snapshot2019

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 6 by compensation

Provider	Service type	Compensation
PINNACLE FINANCIAL SERVICES, INC.1 year Filed as: PINNACLE AN NPPG COMPANY Service code 15 · EIN 59-2438373	Recordkeeping	$130,865
LPL FINANCIAL2 years Filed as: LPL FINANCIAL CORPORATION Service code 27 · EIN 04-3046611	Advisory (Plan)	$101,093
MILLIMAN, INC.1 year Filed as: GRANT MILLMAN & JOHNSON PC Service code 10 · EIN 38-2555519	Accounting	$46,635
3(16) FIDUCIARY SERVICES CORP2 years Filed as: 3(16) FIDUCIARY SERVICES Service code 14 · EIN 45-4813650	Plan Administrator	$40,485
TOMASEK LAW OFFICE LLC2 years Service code 29 · EIN 81-2347682	Legal	$19,662
TRANSAMERICA RETIREMENT SOLUTIONS2 years Filed as: TRANSAMERICA FINANCIAL LIFE INS CO Service code 15 · EIN 36-6071399	Recordkeeping	$11,591

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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$158K

$35 / participant

Contract admin$48K30.5%
Other / not subdivided$110K69.5%

% of EOY assets

0.174%

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

$28,405

$41,617-31.7%

$84,637-66.4%

$77,775-63.5%

Participation rate

37.8%

45.0%-7.3pp

68.2%-30.5pp

73.2%-35.5pp

Annual return

59.51%

24.97%+34.5pp

258.82%-199.3pp

32.58%+26.9pp

Employer contribution / active EE

$540

$1,061-49.1%

$2,653-79.7%

$2,504-78.4%

Participant deferral / active EE

$1,864

$2,129-12.4%

$3,900-52.2%

$3,966-53.0%

Admin fee / account holder

$49

$121-59.1%

$4,914-99.0%

$100-50.5%

Provider

Service type

Compensation

PINNACLE FINANCIAL SERVICES, INC.1 year

Filed as: PINNACLE AN NPPG COMPANY

Service code 15 · EIN 59-2438373

Recordkeeping

$130,865

LPL FINANCIAL2 years

Filed as: LPL FINANCIAL CORPORATION

Service code 27 · EIN 04-3046611

Advisory (Plan)

$101,093

MILLIMAN, INC.1 year

Filed as: GRANT MILLMAN & JOHNSON PC

Service code 10 · EIN 38-2555519

Accounting

$46,635

3(16) FIDUCIARY SERVICES CORP2 years

Filed as: 3(16) FIDUCIARY SERVICES

Service code 14 · EIN 45-4813650

Plan Administrator

$40,485

TOMASEK LAW OFFICE LLC2 years

Service code 29 · EIN 81-2347682

Legal

$19,662

TRANSAMERICA RETIREMENT SOLUTIONS2 years

Filed as: TRANSAMERICA FINANCIAL LIFE INS CO

Service code 15 · EIN 36-6071399

Recordkeeping

$11,591

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