Retirement plan

SMARTE CARTE, INC. 401(K) PLAN

Name: SMARTE CARTE, INC. - SMARTE CARTE, INC. 401(K) PLAN (2020) Form 5500
Creator: SMARTE CARTE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SMARTE CARTE, INC. 401(K) PLAN, SMARTE CARTE, INC.

SMARTE CARTE, INC.EIN 41-0965374Plan #002PY 2020

4455 WHITE BEAR PARKWAY - SAINT PAUL, MN 55110651-429-3614smartecarte.comLinkedIn1001-5000 employeesconsumer services

Prospect flagsLow participationLow employer contributionLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$22.1M

+10.2% from 2019

Total participants

870

-6.3% from 2019

Average account balance

$39,077

+16.5% from 2019

Annual return

20.64%

-4.03 pp from 2019

Benchmarks

See 615 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants250-999

Cohort615 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$30.21M

Not enough data

1 years with asset history on file

Average account balance

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

$30K

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.

1,015

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.

96.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.85M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+15.56%

Not enough data

1 years with return on file

Admin fee / account holder

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

$67

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 8 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Service code 49 · EIN 04-1590850	Other Services	$49,771
GLOBAL RETIREMENT PARTNERS LLC3 years Service code 27 · EIN 47-1411118	Advisory (Plan)	$27,317
FIDELITY INVESTMENTS INSTITUTIONAL4 years Filed as: FIDELITY INVESTMENTS Service code 52 · EIN 04-6056833	Indirect Investment Fees	$0
MORGAN STANLEY SMITH BARNEY2 years Filed as: JP MORGAN Service code 52 · EIN 26-3613641	Indirect Investment Fees	$0
MFS INVESTMENT MANAGEMENT3 years Service code 52 · EIN 04-3158862	Indirect Investment Fees	$0
T ROWE PRICE RPS INC4 years Filed as: T. ROWE PRICE Service code 52 · EIN 52-0791372	Indirect Investment Fees	$0
THE VANGUARD GROUP, INC.3 years Filed as: VANGUARD Service code 52 · EIN 23-2311358	Indirect Investment Fees	$0
WELLS FARGO BANK, N.A.4 years Filed as: WELLS FARGO Service code 52 · EIN 41-0449260	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3D2S2T

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
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

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant 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

$77K

$98 / participant

Investment mgmt$67K86.9%
Contract admin$10K13.1%

% of EOY assets

0.349%

all-in expense ratio

Categories reported

2 / 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: REDPATH AND COMPANY
Auditor EIN: 410975573
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$39,077

$56,152-30.4%

$185,861-79.0%

$73,412-46.8%

Participation rate

61.2%

67.6%-6.4pp

78.0%-16.9pp

72.2%-11.0pp

Annual return

20.64%

17.59%+3.1pp

35.96%-15.3pp

59.30%-38.7pp

Employer contribution / active EE

$361

$1,532-76.5%

$4,088-91.2%

$2,234-83.9%

Participant deferral / active EE

$1,230

$3,659-66.4%

$5,634-78.2%

$3,806-67.7%

Admin fee / account holder

$136

$132+3.2%

$9,503-98.6%

$158-13.7%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Service code 49 · EIN 04-1590850

Other Services

$49,771

GLOBAL RETIREMENT PARTNERS LLC3 years

Service code 27 · EIN 47-1411118

Advisory (Plan)

$27,317

FIDELITY INVESTMENTS INSTITUTIONAL4 years

Filed as: FIDELITY INVESTMENTS

Service code 52 · EIN 04-6056833

Indirect Investment Fees

MORGAN STANLEY SMITH BARNEY2 years

Filed as: JP MORGAN

Service code 52 · EIN 26-3613641

Indirect Investment Fees

MFS INVESTMENT MANAGEMENT3 years

Service code 52 · EIN 04-3158862

Indirect Investment Fees

T ROWE PRICE RPS INC4 years

Filed as: T. ROWE PRICE

Service code 52 · EIN 52-0791372

Indirect Investment Fees

THE VANGUARD GROUP, INC.3 years

Filed as: VANGUARD

Service code 52 · EIN 23-2311358

Indirect Investment Fees

WELLS FARGO BANK, N.A.4 years

Filed as: WELLS FARGO

Service code 52 · EIN 41-0449260

Indirect Investment Fees

SMARTE CARTE, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SMARTE CARTE, INC. 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