Retirement plan

PLAN DE AHORRO EMPLEADOS ISLAND FINANCE

Name: ISLAND FINANCE, LLC - PLAN DE AHORRO EMPLEADOS ISLAND FINANCE (2024) Form 5500
Creator: ISLAND FINANCE, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PLAN DE AHORRO EMPLEADOS ISLAND FINANCE, ISLAND FINANCE, LLC

ISLAND FINANCE, LLCEIN 66-0878299Plan #001PY 2024

PO BOX 71504 - SAN JUAN, PR 00936787-773-7554

Prospect flagsLow assets / participantLow employer contributionLow participant contribution

How to read this page

Total assets (EOY)

$12.2M

+17.8% from 2023

Total participants

585

+8.7% from 2023

Average account balance

$25,841

+17.8% from 2023

Annual return

14.21%

-2.88 pp from 2023

Benchmarks

See 1,547 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,547 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.17M

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.

471

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.

77.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$835K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+14.21%

Not enough data

1 years with return on file

Admin fee / account holder

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

$147

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 7 by compensation

Provider	Service type	Compensation
ONEILL & BORGES LLC6+ years Service code 29 250 MUNOZ RIVERA AVE STE 800 · SAN JUAN, PR 009181813	Legal	$16,857
RSM US LLP2 years Filed as: RSM ROC & COMPANY Service code 10 PO BOX 10528 · SAN JUAN, PR 00922	Accounting	$16,588
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$12,765
PENSION PLUS INC5 years Filed as: PENSION PLUS, INC Service code 13 PO BOX 366281 · SAN JUAN, PR 009366281	Contract Administrator	$9,971
CETERA ADVISOR NETWORKS LLC6+ years Service code 55 2301 ROSECRANS AVE #5100 · EL SEGUNDO, CA 902455670	Other Commissions	$8,500
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILAGE, CO 80111	Recordkeeping Fees	$8,179
ORIENTAL BANK6+ years Filed as: ORIENTAL BANK & TRUST Service code 25 PO BOX 191429 · SAN JUAN, PR 009191429	Directed Trustee	$6,145

Plan features & details

Pension benefit codes2E2G2J2K3C

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
3C
Plan not intended to be qualified
A plan not intended to be qualified under Code sections 401 403 or 408.

Opportunity flags

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$69K

$134 / participant

Other / not subdivided$69K100.0%

% of EOY assets

0.567%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: RSM PUERTO RICO
Auditor EIN: 660388756
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$25,841

$129,227-80.0%

$184,260-86.0%

$77,736-66.8%

Participation rate

77.9%

87.4%-9.4pp

86.8%-8.9pp

70.6%+7.3pp

Annual return

14.21%

33.24%-19.0pp

28.84%-14.6pp

31.26%-17.1pp

Employer contribution / active EE

$444

$4,412-89.9%

$6,427-93.1%

$2,728-83.7%

Participant deferral / active EE

$1,174

$7,307-83.9%

$9,133-87.1%

$4,651-74.8%

Admin fee / account holder

$147

$256-42.7%

$13,898-98.9%

$433-66.2%

Provider

Service type

Compensation

ONEILL & BORGES LLC6+ years

Service code 29

250 MUNOZ RIVERA AVE STE 800 · SAN JUAN, PR 009181813

Legal

$16,857

RSM US LLP2 years

Filed as: RSM ROC & COMPANY

Service code 10

PO BOX 10528 · SAN JUAN, PR 00922

Accounting

$16,588

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$12,765

PENSION PLUS INC5 years

Filed as: PENSION PLUS, INC

Service code 13

PO BOX 366281 · SAN JUAN, PR 009366281

Contract Administrator

$9,971

CETERA ADVISOR NETWORKS LLC6+ years

Service code 55

2301 ROSECRANS AVE #5100 · EL SEGUNDO, CA 902455670

Other Commissions

$8,500

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILAGE, CO 80111

Recordkeeping Fees

$8,179

ORIENTAL BANK6+ years

Filed as: ORIENTAL BANK & TRUST

Service code 25

PO BOX 191429 · SAN JUAN, PR 009191429

Directed Trustee

$6,145

PLAN DE AHORRO EMPLEADOS ISLAND FINANCE

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PLAN DE AHORRO EMPLEADOS ISLAND FINANCE

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