Retirement plan

CION 401(K) SAVINGS PLAN

Name: CION INVESTMENT GROUP LLC - CION 401(K) SAVINGS PLAN (2020) Form 5500
Creator: CION INVESTMENT GROUP LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CION 401(K) SAVINGS PLAN, CION INVESTMENT GROUP LLC

CION INVESTMENT GROUP LLCEIN 45-3275112Plan #002PY 2020

3 PARK AVENUE, 36TH FLOOR - NEW YORK, NY 10016212-418-4700cioninvestments.comLinkedIn51-200 employeesfinancial services

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$10.4M

+15.1% from 2019

Total participants

136

-7.5% from 2019

Average account balance

$77,947

+24.6% from 2019

Annual return

16.04%

-7.86 pp from 2019

Benchmarks

See 7,209 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,209 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$16.62M

Not enough data

1 years with asset history on file

Average account balance

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

$122K

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.

136

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.

97.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.79M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$23K

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

+14.67%

Not enough data

1 years with return on file

Admin fee / account holder

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

$799

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
HPM PARTNERS2 years Service code 26 11601 WILSHIRE BLVD · LOS ANGELES, CA 90025	Advisory (Participants)	$36,226
NEWPORT GROUP, INC.2 years Service code 13 · EIN 27-2037969	Contract Administrator	$13,372

Plan features & details

Pension benefit codes2E2F2G2J2S2T3B3D3H

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.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$53K

$766 / participant

Investment mgmt$36K68.6%
Contract admin$13K25.3%
Other / not subdivided$3K6.1%

% of EOY assets

0.506%

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: RSM US LLP
Auditor EIN: 420714325
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$77,947

$123,793-37.0%

$177,848-56.2%

$79,856-2.4%

Participation rate

97.1%

84.7%+12.4pp

87.7%+9.4pp

69.6%+27.5pp

Annual return

16.04%

22.82%-6.8pp

48.33%-32.3pp

31.71%-15.7pp

Employer contribution / active EE

$4,095-100.0%

$5,919-100.0%

$2,471-100.0%

Participant deferral / active EE

$13,008

$5,956+118.4%

$7,714+68.6%

$3,741+247.8%

Admin fee / account holder

$394

$7,243-94.6%

$12,431-96.8%

$5,306-92.6%

Provider

Service type

Compensation

HPM PARTNERS2 years

Service code 26

11601 WILSHIRE BLVD · LOS ANGELES, CA 90025

Advisory (Participants)

$36,226

NEWPORT GROUP, INC.2 years

Service code 13 · EIN 27-2037969

Contract Administrator

$13,372

CION 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CION 401(K) 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