Retirement plan

ION FINANCIAL, MHC 401K PLAN

Name: ION FINANCIAL, MHC - ION FINANCIAL, MHC 401K PLAN (2025) Form 5500
Creator: ION FINANCIAL, MHC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ION FINANCIAL, MHC 401K PLAN, ION FINANCIAL, MHC

ION FINANCIAL, MHCEIN 57-1223365Plan #002PY 2025

251 CHURCH STREET PO BOX 370 - NAUGATUCK, CT 06770203-720-5372LinkedIn51-200 employeesbanking

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$60.7M

+19.6% from 2024

Total participants

560

+13.6% from 2024

Average account balance

$112,039

+5.0% from 2024

Annual return

18.81%

+1.51 pp from 2024

Benchmarks

See 336 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort336 peers

Snapshot2025

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

Analytics

Total assets (EOY)

Plan-year ending balance

$60.73M

Not enough data

1 years with asset history on file

Average account balance

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

$112K

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.

542

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.

95.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.19M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+18.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

$134

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 4 by compensation

Provider	Service type	Compensation
VOYA RETIREMENT INSURANCE & ANNUITY11+ years Service code 64 · EIN 71-0294708	Recordkeeping Fees	$63,024
INSTITUTIONAL INVESTMENT CONSULTING7 years Service code 99 · EIN 81-0635433	Other Fees	$20,000
VOYA RETIREMENT INSURANCE & ANNUITY2 years Filed as: VOYA RETIREMENT ADVISORS, LLC Service code 26 · EIN 02-0488491	Advisory (Participants)	$9,361
MORNINGSTAR11+ years Service code 27 · EIN 36-3297908	Advisory (Plan)	$7,753

Plan features & details

Pension benefit codes2E2F2G2J2K

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.

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$72K

$178 / participant

Investment mgmt$9K12.9%
Contract admin$61K84.9%
Other / not subdivided$2K2.1%

% of EOY assets

0.119%

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: WHITTLESEY PC
Auditor EIN: 060903326
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$112,039

$130,224-14.0%

$197,124-43.2%

$79,634+40.7%

Participation rate

95.6%

87.8%+7.8pp

86.7%+8.9pp

62.5%+33.1pp

Annual return

18.81%

23.65%-4.8pp

44.34%-25.5pp

36.46%-17.7pp

Employer contribution / active EE

$5,395

$4,314+25.1%

$6,227-13.4%

$2,529+113.3%

Participant deferral / active EE

$7,352

$7,378-0.4%

$9,135-19.5%

$3,835+91.7%

Admin fee / account holder

$134

$254-47.5%

$16,298-99.2%

$1,002-86.7%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY11+ years

Service code 64 · EIN 71-0294708

Recordkeeping Fees

$63,024

INSTITUTIONAL INVESTMENT CONSULTING7 years

Service code 99 · EIN 81-0635433

Other Fees

$20,000

VOYA RETIREMENT INSURANCE & ANNUITY2 years

Filed as: VOYA RETIREMENT ADVISORS, LLC

Service code 26 · EIN 02-0488491

Advisory (Participants)

$9,361

MORNINGSTAR11+ years

Service code 27 · EIN 36-3297908

Advisory (Plan)

$7,753

ION FINANCIAL, MHC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ION FINANCIAL, MHC 401K 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