Retirement plan

UPSTART NETWORK, INC. 401(K) PLAN

Name: UPSTART NETWORK, INC. - UPSTART NETWORK, INC. 401(K) PLAN (2024) Form 5500
Creator: UPSTART NETWORK, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UPSTART NETWORK, INC. 401(K) PLAN, UPSTART NETWORK, INC.

UPSTART NETWORK, INC.EIN 45-4660612Plan #001PY 2024

2950 S. DELAWARE ST., SUITE 300 - SAN MATEO, CA 94403650-204-1000

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$97.9M

+44.0% from 2023

Total participants

1,666

-6.3% from 2023

Average account balance

$66,427

+44.8% from 2023

Annual return

24.33%

-6.82 pp from 2023

Benchmarks

See 949 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort949 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$97.91M

Not enough data

1 years with asset history on file

Average account balance

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

$66K

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.

1,474

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.

83.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$21.98M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$19K

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

+24.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$58

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
CHARLES SCHWAB & CO., INC.2 years Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$85,352
CHARLES SCHWAB & CO., INC.1 year Filed as: CHARLES SCHWAB & CO.,INC. Service code 33 · EIN 94-1737782	Securities brokerage; Direct payment ...	$23

Plan features & details

Pension benefit codes2F2G2J2K2T3D

Plan features

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.
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

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$85K

$72 / participant

Recordkeeping$31K36.9%
Investment mgmt$54K63.1%

% of EOY assets

0.087%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CROWE LLP
Auditor EIN: 350921680
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$66,427

$122,128-45.6%

$147,080-54.8%

$199,960-66.8%

Participation rate

83.7%

78.2%+5.5pp

82.2%+1.5pp

72.0%+11.7pp

Annual return

24.33%

30.58%-6.2pp

420.17%-395.8pp

34.28%-9.9pp

Employer contribution / active EE

$4,151

$4,093+1.4%

$4,933-15.9%

$3,036+36.7%

Participant deferral / active EE

$14,495

$8,484+70.9%

$8,066+79.7%

$5,087+184.9%

Admin fee / account holder

$58

$180-67.8%

$12,989-99.6%

$269-78.5%

Provider

Service type

Compensation

CHARLES SCHWAB & CO., INC.2 years

Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$85,352

CHARLES SCHWAB & CO., INC.1 year

Filed as: CHARLES SCHWAB & CO.,INC.

Service code 33 · EIN 94-1737782

Securities brokerage; Direct payment ...

$23

UPSTART NETWORK, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UPSTART NETWORK, 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