Retirement plan

PURE SOURCE, LLC RETIREMENT PLAN

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

PURE SOURCE, LLCEIN 65-0588961Plan #001PY 2024

9750 NW 17TH STREET - MIAMI BEACH, FL 33172305-477-8111LinkedIn1-10 employeespharmaceuticals

Prospect flagsHigh feesLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$4.2M

+1.1% from 2023

Total participants

140

-3.4% from 2023

Average account balance

$36,758

+3.8% from 2023

Annual return

14.95%

-3.33 pp from 2023

Benchmarks

See 2,344 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,344 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.15M

Not enough data

1 years with asset history on file

Average account balance

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

$37K

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.

113

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.

75.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$90K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$822

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

+14.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

$352

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 5 by compensation

Provider	Service type	Compensation
PROVENANCE WEALTH ADVISORS3 years Filed as: PROVENANCE WEALTH ADVISORS LLC Service code 27 · EIN 65-0978008 200 S BISCAYNE BLVD #7 · MIAMI, FL 331312310	Advisory (Plan)	$17,205
ROSALINE MENDOZA CPA PA3 years Service code 10 · EIN 27-1323021 1981 NW 88TH CT. · DORAL, FL 33172	Accounting	$5,500
DEFINITI LLC2 years Service code 13	Contract Administrator	$2,095
DEFINITI LLC4 years Filed as: DEFINITI, LLC Service code 13 · EIN 85-0833363 3 HOLLAND ST · ERIE, PA 16507	Contract Administrator	$1,900
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 · EIN 01-0233346 8515 E ORCHARD RD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$765

Plan features & details

Pension benefit codes2A2E2F2G2J3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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 participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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).

Expense breakdown

Schedule H Part II

Admin total

$40K

$362 / participant

Contract admin$40K100.0%

% of EOY assets

0.959%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ROSALINE MENDOZA, CPA
Auditor EIN: 271323021
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$36,758

$88,203-58.3%

$165,100-77.7%

$74,478-50.6%

Participation rate

75.5%

73.1%+2.3pp

78.6%-3.2pp

67.2%+8.2pp

Annual return

14.95%

17.13%-2.2pp

70.21%-55.3pp

1370.56%-1355.6pp

Employer contribution / active EE

$2,601-100.0%

$4,348-100.0%

$2,626-100.0%

Participant deferral / active EE

$822

$4,505-81.7%

$6,035-86.4%

$4,350-81.1%

Admin fee / account holder

$352

$2,235-84.2%

$12,696-97.2%

$1,946-81.9%

Provider

Service type

Compensation

PROVENANCE WEALTH ADVISORS3 years

Filed as: PROVENANCE WEALTH ADVISORS LLC

Service code 27 · EIN 65-0978008

200 S BISCAYNE BLVD #7 · MIAMI, FL 331312310

Advisory (Plan)

$17,205

ROSALINE MENDOZA CPA PA3 years

Service code 10 · EIN 27-1323021

1981 NW 88TH CT. · DORAL, FL 33172

Accounting

$5,500

DEFINITI LLC2 years

Service code 13

Contract Administrator

$2,095

DEFINITI LLC4 years

Filed as: DEFINITI, LLC

Service code 13 · EIN 85-0833363

3 HOLLAND ST · ERIE, PA 16507

Contract Administrator

$1,900

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64 · EIN 01-0233346

8515 E ORCHARD RD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$765

PURE SOURCE, LLC RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PURE SOURCE, LLC RETIREMENT 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