Retirement plan

FAITH TECHNOLOGIES INCORPORATED 401(A) PLAN

Name: FAITH TECHNOLOGIES INCORPORATED - FAITH TECHNOLOGIES INCORPORATED 401(A) PLAN (2023) Form 5500
Creator: FAITH TECHNOLOGIES INCORPORATED
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FAITH TECHNOLOGIES INCORPORATED 401(A) PLAN, FAITH TECHNOLOGIES INCORPORATED

FAITH TECHNOLOGIES INCORPORATEDEIN 41-2065665Plan #009PY 2023

PO BOX 260 201 MAIN ST - MENASHA, WI 54952800-677-1506faithtechnologies.comLinkedIn1001-5000 employeesconstruction

Other plans on this EIN

1 filing

#008Retirement-$308.5M assets

Prospect flagsLow assets / participantLow employer contribution

How to read this page

Total assets (EOY)

$5.7M

-8.0% from 2020

Total participants

3,291

+25.4% from 2020

Average account balance

$2,081

-26.5% from 2020

Annual return

15.94%

-11.43 pp from 2020

Benchmarks

See 531 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort531 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$25.71M

Not enough data

1 years with asset history on file

Average account balance

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

$15K

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.

1,768

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$14.87M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+11.69%

Not enough data

1 years with return on file

Admin fee / account holder

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

$11

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 2 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 13 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Contract Administrator	$24,343
GRANT THORNTON LLP4 years Service code 10 · EIN 36-6055558	Accounting	$15,600

Plan features & details

Pension benefit codes2A2E2F2G2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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

2 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$40K

$13 / participant

Contract admin$24K60.9%
Other / not subdivided$16K39.1%

% of EOY assets

0.702%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: GRANT THORNTON LLP
Auditor EIN: 366055558
Audit fees: $15,600
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$2,081

$88,479-97.6%

$96,543-97.8%

$80,187-97.4%

Participation rate

82.4%

79.9%+2.5pp

74.3%+8.1pp

72.9%+9.5pp

Annual return

15.94%

22.53%-6.6pp

35.75%-19.8pp

40.40%-24.5pp

Employer contribution / active EE

$190

$4,177-95.4%

$3,741-94.9%

$2,980-93.6%

Participant deferral / active EE

$3,961-100.0%

$4,880-100.0%

$5,016-100.0%

Admin fee / account holder

$15

$211-93.1%

$6,737-99.8%

$145-89.9%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 13

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Contract Administrator

$24,343

GRANT THORNTON LLP4 years

Service code 10 · EIN 36-6055558

Accounting

$15,600

FAITH TECHNOLOGIES INCORPORATED 401(A) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FAITH TECHNOLOGIES INCORPORATED 401(A) 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