Retirement plan

FREEDOMREWARDS 401(K) PLAN

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

CWGS GROUP, LLCEIN 46-3759013Plan #001PY 2022

250 PARKWAY DR STE 270 - LINCOLNSHIRE, IL 60069312-560-4900

Prospect flagsLow assets / participantLow employer contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$243.4M

-19.6% from 2019

Total participants

17,435

-2.3% from 2019

Average account balance

$13,963

-21.1% from 2019

Annual return

-16.21%

-25.80 pp from 2019

Benchmarks

See 93 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants>=10,000

Cohort93 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$341.65M

Not enough data

1 years with asset history on file

Average account balance

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

$19K

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.

18,432

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.

96.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$49.50M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+14.55%

Not enough data

1 years with return on file

Admin fee / account holder

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

$65

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

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS5+ years Service code 12 · EIN 13-3689044	Finders' fees / placement fees; Recor...	$936,440
CAPFINANCIAL PARTNERS LLC5+ years Filed as: CAPFINANCIAL PARTNERS, LLC Service code 16 · EIN 26-0058143	Consulting	$53,000
CROWE LLP4 years Service code 10 · EIN 35-0921680	Accounting	$31,053
SEYFARTH SHAW LLP1 year Service code 29 · EIN 36-2152202	Legal	$9,505
CHARLES SCHWAB & CO., INC.5+ years Service code 33 · EIN 94-1737782	Securities brokerage commissions and ...	$246
CHARLES SCHWAB & CO., INC.4 years Filed as: CHARLES SCHWAB & CO, INC. Service code 33	Securities brokerage commissions and ...	$0

Plan features & details

Pension benefit codes2F2G2J2K2R2S2T3F3H

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.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
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

4 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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

$1.0M

$81 / participant

Investment mgmt$53K5.2%
Other / not subdivided$966K94.8%

% of EOY assets

0.419%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$13,963

$47,540-70.6%

$79,591-82.5%

$89,433-84.4%

Participation rate

100.0%

54.9%+45.1pp

69.5%+30.5pp

71.3%+28.7pp

Annual return

-16.21%

-8.05%-8.2pp

0.18%-16.4pp

-11.88%-4.3pp

Employer contribution / active EE

-$0

$1,122-100.0%

$2,413-100.0%

$3,021-100.0%

Participant deferral / active EE

$4,052

$1,961+106.6%

$3,986+1.7%

$5,125-20.9%

Admin fee / account holder

$58

$59-0.1%

$6,815-99.1%

$79-26.4%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS5+ years

Service code 12 · EIN 13-3689044

Finders' fees / placement fees; Recor...

$936,440

CAPFINANCIAL PARTNERS LLC5+ years

Filed as: CAPFINANCIAL PARTNERS, LLC

Service code 16 · EIN 26-0058143

Consulting

$53,000

CROWE LLP4 years

Service code 10 · EIN 35-0921680

Accounting

$31,053

SEYFARTH SHAW LLP1 year

Service code 29 · EIN 36-2152202

Legal

$9,505

CHARLES SCHWAB & CO., INC.5+ years

Service code 33 · EIN 94-1737782

Securities brokerage commissions and ...

$246

CHARLES SCHWAB & CO., INC.4 years

Filed as: CHARLES SCHWAB & CO, INC.

Service code 33

Securities brokerage commissions and ...

FREEDOMREWARDS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FREEDOMREWARDS 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