Retirement plan

FLEETIO 401(K) PLAN

Name: RARESTEP, INC. - FLEETIO 401(K) PLAN (2022) Form 5500
Creator: RARESTEP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FLEETIO 401(K) PLAN, RARESTEP, INC.

RARESTEP, INC.EIN 45-2338164Plan #002PY 2022

1900 2ND AVENUE NORTH #300 - BIRMINGHAM, AL 35203

Prospect flagsLow fidelity bondFailed to transmit contributions

How to read this page

Total assets (EOY)

$4.7M

No prior year

Total participants

234

No prior year

Average account balance

$22,479

No prior year

Annual return

0.00%

No prior year

Benchmarks

See 1,030 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants100-249

Cohort1,030 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$13.80M

Not enough data

1 years with asset history on file

Average account balance

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

$44K

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.

311

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.

88.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.67M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+37.47%

Not enough data

1 years with return on file

Admin fee / account holder

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

$133

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 1 by compensation

Provider	Service type	Compensation
HUMAN INTEREST ADVISOR LLC1+ years Filed as: HUMAN INTEREST ADVISORS LLC Service code 13 · EIN 47-4307706 300 MOLNTGOMERY STREET, STE 350 · SAN FRANCISCO, CA 94101	Contract Administrator	$7,326

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T

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.

Opportunity flags

2 tripped

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$7K

$40 / participant

Investment mgmt$7K100.0%

% of EOY assets

0.157%

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: WARREN AVERETT, LLC
Auditor EIN: 454084437
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$22,479

$58,320-61.5%

$86,451-74.0%

$66,949-66.4%

Participation rate

85.7%

78.6%+7.1pp

80.3%+5.4pp

69.8%+15.9pp

Annual return

0.00%

-9.71%+9.7pp

4398.51%-4398.5pp

1.57%-1.6pp

Employer contribution / active EE

$3,257

$2,615+24.5%

$3,770-13.6%

$2,545+28.0%

Participant deferral / active EE

$6,006

$6,899-12.9%

$6,953-13.6%

$4,239+41.7%

Admin fee / account holder

$35

$546-93.5%

$6,734-99.5%

$594-94.1%

Provider

Service type

Compensation

HUMAN INTEREST ADVISOR LLC1+ years

Filed as: HUMAN INTEREST ADVISORS LLC

Service code 13 · EIN 47-4307706

300 MOLNTGOMERY STREET, STE 350 · SAN FRANCISCO, CA 94101

Contract Administrator

$7,326

FLEETIO 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FLEETIO 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