Retirement plan

HEADSPACE 401(K) PLAN

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

HEADSPACE, INC.EIN 46-1777570Plan #001PY 2022

2415 MICHIGAN AVE. - SANTA MONICA, CA 90404310-526-4494headspace.comLinkedIn501-1000 employeesmental health care

Prospect flagsLow assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$31.7M

+77.4% from 2021

Total participants

1,341

+32.1% from 2021

Average account balance

$27,809

+29.7% from 2021

Annual return

17.85%

-11.12 pp from 2021

Benchmarks

See 275 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort275 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$59.12M

Not enough data

1 years with asset history on file

Average account balance

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

$58K

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.

1,013

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.

82.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$8.35M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+17.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

$42

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
NEWPORT GROUP, INC.2 years Service code 13 · EIN 27-2037969	Contract Administrator	$19,555

Plan features & details

Pension benefit codes2E2F2G2J2T3D3H

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.
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.
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

2 tripped

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

$20K

$17 / participant

Contract admin$20K100.0%

% of EOY assets

0.062%

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: DUFFY KRUSPODIN, LLP
Auditor EIN: 954244393
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$27,809

$98,780-71.8%

$60,899-54.3%

$77,906-64.3%

Participation rate

82.4%

76.7%+5.7pp

73.1%+9.3pp

73.7%+8.7pp

Annual return

17.85%

-11.56%+29.4pp

16.92%+0.9pp

12.16%+5.7pp

Employer contribution / active EE

$3,572

$3,605-0.9%

$2,702+32.2%

$2,846+25.5%

Participant deferral / active EE

$7,052

$4,200+67.9%

$3,817+84.8%

$4,805+46.8%

Admin fee / account holder

$17

$89-80.7%

$3,225-99.5%

$133-87.1%

Provider

Service type

Compensation

NEWPORT GROUP, INC.2 years

Service code 13 · EIN 27-2037969

Contract Administrator

$19,555

HEADSPACE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HEADSPACE 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