Retirement plan

UNITEDHEALTH GROUP VENTURES 401(K) RETIREMENT PLAN

Name: UNITEDHEALTH GROUP VENTURES, LLC - UNITEDHEALTH GROUP VENTURES 401(K) RETIREMENT PLAN (2023) Form 5500
Creator: UNITEDHEALTH GROUP VENTURES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UNITEDHEALTH GROUP VENTURES 401(K) RETIREMENT PLAN, UNITEDHEALTH GROUP VENTURES, LLC

UNITEDHEALTH GROUP VENTURES, LLCEIN 46-3311984Plan #001PY 2023

9900 BREN ROAD EAST, MN008-R120 - MINNETONKA, MN 55343952-936-1300

Prospect flagsLow assets / participantFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$41.2M

+25.2% from 2022

Total participants

2,463

+7.5% from 2022

Average account balance

$17,280

+16.2% from 2022

Annual return

24.67%

+37.47 pp from 2022

Benchmarks

See 928 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort928 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$49.51M

Not enough data

1 years with asset history on file

Average account balance

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

$18K

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.

2,711

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.

93.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$7.72M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+18.93%

Not enough data

1 years with return on file

Admin fee / account holder

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

$23

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 4 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL6 years Service code 37 · EIN 04-2647786	Loan Processing	$55,325
BAKER TILLY US, LLP2 years Service code 10 · EIN 39-0859910	Accounting	$14,800
NFP RETIREMENT INC4 years Filed as: NFP RETIREMENT Service code 10 · EIN 33-0905143	Accounting	$2,500
FIDELITY INVESTMENTS INSTITUTIONAL8+ years Filed as: FIDELITY INVESTMENTS INST OP CO. Service code 60	Sub-TA Fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3H

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
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

3 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).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$72K

$50 / participant

Recordkeeping$55K76.1%
Other / not subdivided$17K23.9%

% of EOY assets

0.176%

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: BAKER TILLY US, LLP
Auditor EIN: 301413443
Audit fees: $17,300
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$17,280

$107,415-83.9%

$135,974-87.3%

$80,157-78.4%

Participation rate

94.4%

78.0%+16.4pp

81.9%+12.5pp

72.9%+21.5pp

Annual return

24.67%

91.99%-67.3pp

68.30%-43.6pp

40.39%-15.7pp

Employer contribution / active EE

$1,196

$3,878-69.2%

$4,859-75.4%

$2,977-59.8%

Participant deferral / active EE

$3,670

$8,189-55.2%

$7,760-52.7%

$5,015-26.8%

Admin fee / account holder

$30

$127-76.1%

$10,767-99.7%

$145-79.0%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL6 years

Service code 37 · EIN 04-2647786

Loan Processing

$55,325

BAKER TILLY US, LLP2 years

Service code 10 · EIN 39-0859910

Accounting

$14,800

NFP RETIREMENT INC4 years

Filed as: NFP RETIREMENT

Service code 10 · EIN 33-0905143

Accounting

$2,500

FIDELITY INVESTMENTS INSTITUTIONAL8+ years

Filed as: FIDELITY INVESTMENTS INST OP CO.

Service code 60

Sub-TA Fees

UNITEDHEALTH GROUP VENTURES 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UNITEDHEALTH GROUP VENTURES 401(K) RETIREMENT 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