Retirement plan

WORKRISE TECHNOLOGIES, INC. 401(K) PLAN

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

WORKRISE TECHNOLOGIES, INC.EIN 46-5175744Plan #001PY 2024

111 CONGRESS AVE., SUITE 1300 - AUSTIN, TX 78701512-501-5452

Prospect flagsLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$76.2M

+27.3% from 2023

Total participants

2,831

+9.5% from 2023

Average account balance

$45,344

+21.5% from 2023

Annual return

18.09%

-2.27 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

$76.22M

Not enough data

1 years with asset history on file

Average account balance

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

$45K

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.

1,681

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.

46.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$15.62M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+18.09%

Not enough data

1 years with return on file

Admin fee / account holder

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

$162

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 3 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL5 years Service code 37 · EIN 04-2647786	Loan Processing	$181,554
WELLS FARGO BANK, N.A.4 years Filed as: WELLS FARGO CLEARING SERVICES LLC Service code 27 · EIN 23-2384840	Advisory (Plan)	$55,906
SAVILLE DODGEN AND COMPANY PLLC1 year Filed as: SAVILLE CPAS & ADVISORS, L.L.C. Service code 10 · EIN 90-0525804	Accounting	$34,110

Plan features & details

Pension benefit codes2E2G2J2K2T3H3D2F

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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll 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

$272K

$126 / participant

Recordkeeping$181K66.5%
Investment mgmt$56K20.6%
Contract admin$9000.3%
Other / not subdivided$34K12.6%

% of EOY assets

0.356%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SAVILLE CPAS AND ADVISORS, LLC
Auditor EIN: 900525804
Audit fees: $34,110
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$45,344

$122,128-62.9%

$147,080-69.2%

$199,960-77.3%

Participation rate

46.6%

78.2%-31.6pp

82.2%-35.6pp

72.0%-25.4pp

Annual return

18.09%

30.58%-12.5pp

420.17%-402.1pp

34.28%-16.2pp

Employer contribution / active EE

$2,031

$4,093-50.4%

$4,933-58.8%

$3,036-33.1%

Participant deferral / active EE

$5,227

$8,484-38.4%

$8,066-35.2%

$5,087+2.7%

Admin fee / account holder

$162

$180-10.0%

$12,989-98.8%

$269-40.0%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL5 years

Service code 37 · EIN 04-2647786

Loan Processing

$181,554

WELLS FARGO BANK, N.A.4 years

Filed as: WELLS FARGO CLEARING SERVICES LLC

Service code 27 · EIN 23-2384840

Advisory (Plan)

$55,906

SAVILLE DODGEN AND COMPANY PLLC1 year

Filed as: SAVILLE CPAS & ADVISORS, L.L.C.

Service code 10 · EIN 90-0525804

Accounting

$34,110

WORKRISE TECHNOLOGIES, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WORKRISE TECHNOLOGIES, 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