Retirement plan

IDENTITY, INC. 401(K) PLAN

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

IDENTITY, INC.EIN 52-2120012Plan #002PY 2024

414 EAST DIAMOND AVENUE - GAITHERSBURG, MD 208773018301-963-5900identity-youth.orgLinkedIn51-200 employeesindividual & family services

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$4.4M

+26.2% from 2023

Total participants

231

+19.1% from 2023

Average account balance

$25,676

-12.9% from 2023

Annual return

14.62%

-7.00 pp from 2023

Benchmarks

See 1,581 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants100-249

Cohort1,581 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.39M

Not enough data

1 years with asset history on file

Average account balance

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

$26K

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.

171

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.

66.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$720K

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

+14.62%

Not enough data

1 years with return on file

Admin fee / account holder

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

$144

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
AMERICAN FUNDS1 year Filed as: CAPITAL GROUP RETIREMENT SERVICES Service code 64 · EIN 82-4555287 6455 IRVINE CENTER DRIVE · IRVINE, CA 92618	Recordkeeping Fees	$13,345
IBN FINANCIAL SERVICES, INC.1 year Filed as: IBN FINANCIAL SERVICES INC. Service code 27 · EIN 16-1493299 404 OLD LIVERPOOL ROAD · LIVERPOOL, NY 13088	Advisory (Plan)	$8,583
COASTAL PENSION SERVICES1 year Filed as: COASTAL PENSION SERVICES INC. Service code 64 · EIN 52-1053785 7230 LEE DEFOREST DRIVE · COLUMBIA, MD 21046	Recordkeeping Fees	$3,592

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.

Opportunity flags

2 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).

Expense breakdown

Schedule H Part II

Admin total

$25K

$139 / participant

Recordkeeping$13K50.7%
Investment mgmt$9K34.8%
Contract admin$4K14.5%

% of EOY assets

0.562%

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: WEGNER CPAS
Auditor EIN: 390974031
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$25,676

$69,745-63.2%

$67,511-62.0%

$74,546-65.6%

Participation rate

66.3%

71.3%-5.1pp

72.9%-6.6pp

67.2%-0.9pp

Annual return

14.62%

-40.37%+55.0pp

3517.41%-3502.8pp

1366.03%-1351.4pp

Employer contribution / active EE

$1,804

$2,705-33.3%

$2,733-34.0%

$2,624-31.3%

Participant deferral / active EE

$2,242

$3,636-38.3%

$4,000-44.0%

$4,347-48.4%

Admin fee / account holder

$144

$894-83.8%

$3,999-96.4%

$1,944-92.6%

Provider

Service type

Compensation

AMERICAN FUNDS1 year

Filed as: CAPITAL GROUP RETIREMENT SERVICES

Service code 64 · EIN 82-4555287

6455 IRVINE CENTER DRIVE · IRVINE, CA 92618

Recordkeeping Fees

$13,345

IBN FINANCIAL SERVICES, INC.1 year

Filed as: IBN FINANCIAL SERVICES INC.

Service code 27 · EIN 16-1493299

404 OLD LIVERPOOL ROAD · LIVERPOOL, NY 13088

Advisory (Plan)

$8,583

COASTAL PENSION SERVICES1 year

Filed as: COASTAL PENSION SERVICES INC.

Service code 64 · EIN 52-1053785

7230 LEE DEFOREST DRIVE · COLUMBIA, MD 21046

Recordkeeping Fees

$3,592

IDENTITY, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IDENTITY, 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