Retirement plan

THING5, LLC 401(K) PLAN

Name: THING5, LLC DBA CLOUD5 COMMUNICATIONS - THING5, LLC 401(K) PLAN (2024) Form 5500
Creator: THING5, LLC DBA CLOUD5 COMMUNICATIONS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THING5, LLC 401(K) PLAN, THING5, LLC DBA CLOUD5 COMMUNICATIONS

THING5, LLC DBA CLOUD5 COMMUNICATIONSEIN 76-0826797Plan #001PY 2024

354 BIRNIE AVE., SUITE 200 - SPRINGFIELD, MA 01107413-241-2519

Prospect flagsLow assets / participant

How to read this page

Total assets (EOY)

$5.8M

+15.6% from 2023

Total participants

195

+4.3% from 2023

Average account balance

$30,557

+10.7% from 2023

Annual return

13.65%

-8.31 pp from 2023

Benchmarks

See 1,011 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants100-249

Cohort1,011 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.84M

Not enough data

1 years with asset history on file

Average account balance

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

$31K

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.

191

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.

97.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.16M

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

+13.65%

Not enough data

1 years with return on file

Admin fee / account holder

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

$205

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
PRINCIPAL LIFE INSURANCE COMPANY6 years Filed as: PRINCIPAL LIFE INSURANCE Service code 13 · EIN 42-0127290	Contract Administrator	$34,272
SHORE TOMPKINS ACTUARIAL RESOURCES2 years Filed as: SHORE TOMKINS ACTUARIAL RESOURCES Service code 13 · EIN 20-1694816	Contract Administrator	$4,884
SHORE TOMPKINS ACTUARIAL RESOURCES7 years Service code 13	Contract Administrator	$2,566

Plan features & details

Pension benefit codes2E2J2F2G3D

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.
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

1 tripped

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

$39K

$259 / participant

Contract admin$39K100.0%

% of EOY assets

0.671%

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: CARON & BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$30,557

$79,089-61.4%

$100,392-69.6%

$74,459-59.0%

Participation rate

97.4%

79.4%+17.9pp

81.5%+15.8pp

67.2%+30.1pp

Annual return

13.65%

20.61%-7.0pp

49.45%-35.8pp

1369.70%-1356.1pp

Employer contribution / active EE

$2,199

$3,015-27.1%

$3,941-44.2%

$2,626-16.3%

Participant deferral / active EE

$5,505

$7,747-28.9%

$8,090-31.9%

$4,350+26.6%

Admin fee / account holder

$205

$1,336-84.7%

$7,904-97.4%

$1,945-89.5%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY6 years

Filed as: PRINCIPAL LIFE INSURANCE

Service code 13 · EIN 42-0127290

Contract Administrator

$34,272

SHORE TOMPKINS ACTUARIAL RESOURCES2 years

Filed as: SHORE TOMKINS ACTUARIAL RESOURCES

Service code 13 · EIN 20-1694816

Contract Administrator

$4,884

SHORE TOMPKINS ACTUARIAL RESOURCES7 years

Service code 13

Contract Administrator

$2,566

THING5, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THING5, LLC 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