Retirement plan

INTERSECTION PARENT, INC. 401(K) PLAN

Name: INTERSECTION PARENT, INC. - INTERSECTION PARENT, INC. 401(K) PLAN (2021) Form 5500
Creator: INTERSECTION PARENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INTERSECTION PARENT, INC. 401(K) PLAN, INTERSECTION PARENT, INC.

INTERSECTION PARENT, INC.EIN 47-4445703Plan #001PY 2021

10 HUDSON YARDS, 26TH FLOOR - NEW YORK, NY 10001212-644-6200

Prospect flagsHigh feesFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$40.5M

+20.7% from 2020

Total participants

632

-2.0% from 2020

Average account balance

$72,405

+28.4% from 2020

Annual return

19.76%

-0.38 pp from 2020

Benchmarks

See 2,991 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort2,991 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$43.61M

Not enough data

1 years with asset history on file

Average account balance

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

$80K

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.

548

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.

90.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.49M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+15.34%

Not enough data

1 years with return on file

Admin fee / account holder

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

$275

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
JOHN HANCOCK LIFE INSURANCE COMPANY3 years Filed as: JOHN HANCOCK RETIREMENT SRVCS Service code 15 · EIN 01-0233346	Recordkeeping	$78,979
MORGAN STANLEY SMITH BARNEY3 years Filed as: MORGAN STANLEY, THE WILSHINSKY GRP Service code 27 ONE PENN PLAZA · NEW YORK, NY 10119	Advisory (Plan)	$61,308
COHNREZNICK LLP2 years Service code 10 · EIN 22-1478099	Accounting	$30,650

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3B3D

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.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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.

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$171K

$395 / participant

Investment mgmt$61K35.9%
Contract admin$79K46.2%
Other / not subdivided$31K17.9%

% of EOY assets

0.422%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: COHNREZNICK LLP
Auditor EIN: 221478099
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$72,405

$104,336-30.6%

$159,474-54.6%

$86,821-16.6%

Participation rate

83.4%

77.7%+5.7pp

82.8%+0.5pp

72.3%+11.1pp

Annual return

19.76%

26.32%-6.6pp

263.68%-243.9pp

97.94%-78.2pp

Employer contribution / active EE

$1,637

$3,451-52.6%

$4,831-66.1%

$2,406-31.9%

Participant deferral / active EE

$8,261

$6,837+20.8%

$7,353+12.4%

$4,132+100.0%

Admin fee / account holder

$305

$172+77.2%

$10,802-97.2%

$170+80.0%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY3 years

Filed as: JOHN HANCOCK RETIREMENT SRVCS

Service code 15 · EIN 01-0233346

Recordkeeping

$78,979

MORGAN STANLEY SMITH BARNEY3 years

Filed as: MORGAN STANLEY, THE WILSHINSKY GRP

Service code 27

ONE PENN PLAZA · NEW YORK, NY 10119

Advisory (Plan)

$61,308

COHNREZNICK LLP2 years

Service code 10 · EIN 22-1478099

Accounting

$30,650

INTERSECTION PARENT, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INTERSECTION PARENT, 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