Retirement plan

NETWORK FUNDING, L.P. SAFE HARBOR 401(K) PLAN

Name: NETWORK FUNDING, L.P. - NETWORK FUNDING, L.P. SAFE HARBOR 401(K) PLAN (2022) Form 5500
Creator: NETWORK FUNDING, L.P.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NETWORK FUNDING, L.P. SAFE HARBOR 401(K) PLAN, NETWORK FUNDING, L.P.

NETWORK FUNDING, L.P.EIN 76-0561995Plan #001PY 2022

10370 RICHMOND AVE., SUITE 900 - HOUSTON, TX 77042713-267-0129nflp.comLinkedIn201-500 employeesfinancial services

Prospect flagsLow returnsHigh feesLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$25.8M

-19.4% from 2021

Total participants

452

-12.2% from 2021

Average account balance

$83,613

-17.0% from 2021

Annual return

-19.41%

-39.14 pp from 2021

Benchmarks

See 1,529 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,529 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$32.57M

Not enough data

1 years with asset history on file

Average account balance

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

$113K

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.

287

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.

61.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.69M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+17.66%

Not enough data

1 years with return on file

Admin fee / account holder

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

$346

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 3 by compensation

Provider	Service type	Compensation
SEGMENT WEALTH MANAGEMENT5 years Service code 27 · EIN 37-1702821 3040 POST OAK BLVD #1725 · HOUSTON, TX 77056	Advisory (Plan)	$82,518
THE VANGUARD GROUP, INC.5 years Service code 37 · EIN 23-1945930	Loan Processing	$10,025
LOREN D. STARK COMPANY4 years Filed as: LOREN D STARK COMPANY Service code 37 · EIN 74-1537058 10750 ROCKLEY ROAD · HOUSTON, TX 77099	Loan Processing	$5,760

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D

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.
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.
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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$94K

$260 / participant

Contract admin$94K100.0%

% of EOY assets

0.366%

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: CWDL CPAS
Auditor EIN: 900916070
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$83,613

$86,897-3.8%

$151,639-44.9%

$64,819+29.0%

Participation rate

60.2%

87.3%-27.0pp

87.5%-27.3pp

71.5%-11.3pp

Annual return

-19.41%

-3.57%-15.8pp

3.34%-22.7pp

32.84%-52.2pp

Employer contribution / active EE

$2,602

$4,010-35.1%

$6,165-57.8%

$2,507+3.8%

Participant deferral / active EE

$5,386

$6,690-19.5%

$8,363-35.6%

$4,311+24.9%

Admin fee / account holder

$306

$153+100.1%

$11,613-97.4%

$188+62.9%

Provider

Service type

Compensation

SEGMENT WEALTH MANAGEMENT5 years

Service code 27 · EIN 37-1702821

3040 POST OAK BLVD #1725 · HOUSTON, TX 77056

Advisory (Plan)

$82,518

THE VANGUARD GROUP, INC.5 years

Service code 37 · EIN 23-1945930

Loan Processing

$10,025

LOREN D. STARK COMPANY4 years

Filed as: LOREN D STARK COMPANY

Service code 37 · EIN 74-1537058

10750 ROCKLEY ROAD · HOUSTON, TX 77099

Loan Processing

$5,760

NETWORK FUNDING, L.P. SAFE HARBOR 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NETWORK FUNDING, L.P. SAFE HARBOR 401(K) 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