Retirement plan

RELIANCE ENERGY 401K PLAN

Name: RELIANCE ENERGY INC - RELIANCE ENERGY 401K PLAN (2022) Form 5500
Creator: RELIANCE ENERGY INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RELIANCE ENERGY 401K PLAN, RELIANCE ENERGY INC

RELIANCE ENERGY INCEIN 75-2399207Plan #001PY 2022

400 W ILLINOIS, SUITE 1300 - MIDLAND, TX 79701432-683-4816reimid.comLinkedIn11-50 employeesoil & energy

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$9.7M

-15.3% from 2021

Total participants

293

+18.1% from 2021

Average account balance

$48,929

-41.4% from 2021

Annual return

-11.05%

-21.79 pp from 2021

Benchmarks

See 181 peers

Peer group

Industry22 - Utilities

Plan typeDefined contribution

Participants100-249

Cohort181 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.42M

Not enough data

1 years with asset history on file

Average account balance

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

$50K

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.

189

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.

23.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$856K

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

+7.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$248

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 7 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.8+ years Filed as: MASSMUTUAL LIFE INSURANCE COMPANY Service code 62 · EIN 04-1590850	Float revenue; Recordkeeping fees	$12,466
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INS CO OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$7,486
PENTEC PENSION MANAGEMENT GROUP INC8+ years Filed as: PENTEC PENSION MANAGEMENT Service code 13	Contract Administrator	$6,005
JAMIE BLACKMORE1 year Filed as: JAMIE DECKER RAY Service code 53 4801 N MIDLAND DR F · MIDLAND, TX 79707	Insurance Commissions	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Filed as: MML INVESTORS SERVICES INC Service code 53 · EIN 04-2746212	Insurance Commissions	$0
PENTEC PENSION MANAGEMENT GROUP INC6 years Service code 13 · EIN 75-2776689	Contract Administrator	$0
TODD EUGENE HOLT8+ years Service code 53 317 GRACE LN # 250 · AUSTIN, TX 78746	Insurance Commissions	$0

Plan features & details

Pension benefit codes2E2G2J2K3D2F

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.
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

$20K

$123 / participant

Investment mgmt$20K100.0%

% of EOY assets

0.201%

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: WEAVER AND TIDWELL, LLP
Auditor EIN: 750786316
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$48,929

$99,016-50.6%

$93,759-47.8%

$66,938-26.9%

Participation rate

40.3%

82.1%-41.9pp

81.0%-40.7pp

69.8%-29.6pp

Annual return

-11.05%

-14.59%+3.5pp

-11.33%+0.3pp

1.58%-12.6pp

Employer contribution / active EE

$2,868

$4,769-39.9%

$4,324-33.7%

$2,545+12.7%

Participant deferral / active EE

$4,281

$6,689-36.0%

$6,096-29.8%

$4,238+1.0%

Admin fee / account holder

$99

$477-79.3%

$7,197-98.6%

$594-83.4%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.8+ years

Filed as: MASSMUTUAL LIFE INSURANCE COMPANY

Service code 62 · EIN 04-1590850

Float revenue; Recordkeeping fees

$12,466

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INS CO OF AMERICA

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$7,486

PENTEC PENSION MANAGEMENT GROUP INC8+ years

Filed as: PENTEC PENSION MANAGEMENT

Service code 13

Contract Administrator

$6,005

JAMIE BLACKMORE1 year

Filed as: JAMIE DECKER RAY

Service code 53

4801 N MIDLAND DR F · MIDLAND, TX 79707

Insurance Commissions

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Filed as: MML INVESTORS SERVICES INC

Service code 53 · EIN 04-2746212

Insurance Commissions

PENTEC PENSION MANAGEMENT GROUP INC6 years

Service code 13 · EIN 75-2776689

Contract Administrator

TODD EUGENE HOLT8+ years

Service code 53

317 GRACE LN # 250 · AUSTIN, TX 78746

Insurance Commissions

RELIANCE ENERGY 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RELIANCE ENERGY 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