Retirement plan

POWER DESIGN, INC. RETIREMENT PLAN

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

POWER DESIGN, INC.EIN 65-0147539Plan #001PY 2024

11600 NINTH STREET NORTH - ST PETERSBURG, FL 33716262-504-0839powerdesigninc.usLinkedIn1001-5000 employeesconstruction

Prospect flagsFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed August 2, 2021

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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How to read this page

Total assets (EOY)

$79.4M

+22.9% from 2023

Total participants

1,761

-39.8% from 2023

Average account balance

$45,097

+7.3% from 2023

Annual return

19.41%

-2.42 pp from 2023

Benchmarks

See 562 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort562 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$79.42M

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.

1,761

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$11.77M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+19.41%

Not enough data

1 years with return on file

Admin fee / account holder

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

$117

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 5 by compensation

Provider	Service type	Compensation
NEWPORT GROUP, INC.1 year Filed as: NEWPORT GROUP, INC Service code 15 · EIN 27-2037969	Recordkeeping	$198,873
CAPFINANCIAL PARTNERS LLC1 year Filed as: CAPFINANCIAL PARTNERS LLC DBA CAPTR Service code 27 4208 SIX FORKS RD STE 1700 · RALEIGH, NC 27609	Advisory (Plan)	$7,083
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER FINANCIAL SERVICES, INC. Service code 59 8515 E ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Shareholder Servicing	$10
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$0
POWER FINANCIAL PARTNERS1 year Filed as: POWER DESIGN INC Service code 99 11600 NINTH ST N · SAINT PETERSBURG, FL 33716	Other Fees	$0

Plan features & details

Pension benefit codes2F2G2J2K2T3B3D2R2E

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

2 tripped

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

$206K

$138 / participant

Investment mgmt$7K3.4%
Contract admin$199K96.6%
Other / not subdivided$100.0%

% of EOY assets

0.259%

all-in expense ratio

Categories reported

2 / 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: CHERRY BEKAERT
Auditor EIN: 560574444
Audit fees: $0
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$45,097

$241,101-81.3%

$103,333-56.4%

$199,593-77.4%

Participation rate

100.0%

78.3%+21.7pp

74.5%+25.5pp

72.0%+28.0pp

Annual return

19.41%

17.80%+1.6pp

24.88%-5.5pp

34.25%-14.8pp

Employer contribution / active EE

$1,490

$4,244-64.9%

$3,868-61.5%

$3,034-50.9%

Participant deferral / active EE

$6,413

$3,958+62.0%

$5,057+26.8%

$5,087+26.1%

Admin fee / account holder

$117

$288-59.3%

$8,355-98.6%

$269-56.5%

Provider

Service type

Compensation

NEWPORT GROUP, INC.1 year

Filed as: NEWPORT GROUP, INC

Service code 15 · EIN 27-2037969

Recordkeeping

$198,873

CAPFINANCIAL PARTNERS LLC1 year

Filed as: CAPFINANCIAL PARTNERS LLC DBA CAPTR

Service code 27

4208 SIX FORKS RD STE 1700 · RALEIGH, NC 27609

Advisory (Plan)

$7,083

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER FINANCIAL SERVICES, INC.

Service code 59

8515 E ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Shareholder Servicing

$10

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

POWER FINANCIAL PARTNERS1 year

Filed as: POWER DESIGN INC

Service code 99

11600 NINTH ST N · SAINT PETERSBURG, FL 33716

Other Fees

POWER DESIGN, INC. RETIREMENT PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

POWER DESIGN, INC. RETIREMENT PLAN

Top hat statement on fileNQDC

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