Retirement plan

MONEYLION, INC. 401(K) PROFIT SHARING PLAN

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

MONEYLION, INC.EIN 46-4036860Plan #001PY 2024

30 WEST 21ST STREET, 9TH FLOOR - NEW YORK, NY 10010929-399-5331moneylion.comLinkedIn501-1000 employeesfinancial services

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$19.8M

+43.1% from 2023

Total participants

372

-5.1% from 2023

Average account balance

$62,239

+42.7% from 2023

Annual return

22.79%

-64.14 pp from 2023

Benchmarks

See 1,551 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,551 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$19.79M

Not enough data

1 years with asset history on file

Average account balance

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

$62K

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.

318

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.

80.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.32M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+22.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$403

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 3 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY2 years Filed as: MORGAN STANLEY GLOBAL BA Service code 27 · EIN 46-4036860	Advisory (Plan)	$65,215
PRINCIPAL LIFE INSURANCE COMPANY6 years Service code 13 · EIN 42-0127290	Contract Administrator	$47,845
THE BENEFIT PRACTICE5 years Service code 13 · EIN 13-4144565	Contract Administrator	$22,507

Plan features & details

Pension benefit codes2A2E2F2G2J2T3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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

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

$128K

$464 / participant

Contract admin$128K100.0%

% of EOY assets

0.648%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: CONDON O'MEARA MCGINTY & DONNELLY
Auditor EIN: 133628255
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$62,239

$129,021-51.8%

$184,203-66.2%

$77,643-19.8%

Participation rate

80.4%

87.3%-6.9pp

86.8%-6.4pp

70.6%+9.9pp

Annual return

22.79%

33.27%-10.5pp

28.81%-6.0pp

31.24%-8.4pp

Employer contribution / active EE

$5,167

$4,413+17.1%

$6,427-19.6%

$2,726+89.5%

Participant deferral / active EE

$10,491

$7,297+43.8%

$9,131+14.9%

$4,647+125.7%

Admin fee / account holder

$403

$254+58.8%

$13,901-97.1%

$430-6.3%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY2 years

Filed as: MORGAN STANLEY GLOBAL BA

Service code 27 · EIN 46-4036860

Advisory (Plan)

$65,215

PRINCIPAL LIFE INSURANCE COMPANY6 years

Service code 13 · EIN 42-0127290

Contract Administrator

$47,845

THE BENEFIT PRACTICE5 years

Service code 13 · EIN 13-4144565

Contract Administrator

$22,507

MONEYLION, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MONEYLION, INC. 401(K) PROFIT SHARING 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