Retirement plan

FUNCTION ENGINEERING, INC. 401(K) PROFIT SHARING PLAN & TRUST

Name: FUNCTION ENGINEERING, INC. - FUNCTION ENGINEERING, INC. 401(K) PROFIT SHARING PLAN & TRUST (2023) Form 5500
Creator: FUNCTION ENGINEERING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FUNCTION ENGINEERING, INC. 401(K) PROFIT SHARING PLAN & TRUST, FUNCTION ENGINEERING, INC.

FUNCTION ENGINEERING, INC.EIN 77-0434708Plan #001PY 2023

163 EVERETT AVE. - PALO ALTO, CA 94301650-833-0665function.comLinkedIn51-200 employeesinformation technology and services

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$22.6M

+20.8% from 2022

Total participants

-2.0% from 2022

Average account balance

$470,536

+20.8% from 2022

Annual return

16.56%

+34.67 pp from 2022

Benchmarks

See 28,708 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,708 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$23.40M

Not enough data

1 years with asset history on file

Average account balance

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

$487K

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.

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.

123.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$878K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$23K

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

+12.84%

Not enough data

1 years with return on file

Admin fee / account holder

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

$64162

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2J2F2G3D3H2T

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.
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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$212K

$5169 / participant

Other / not subdivided$212K100.0%

% of EOY assets

0.938%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$470,536

$93,598+402.7%

$135,974+246.0%

$75,173+525.9%

Participation rate

97.6%

75.2%+22.4pp

81.9%+15.6pp

67.2%+30.4pp

Annual return

16.56%

30.89%-14.3pp

68.30%-51.7pp

160.72%-144.2pp

Employer contribution / active EE

$6,354

$3,538+79.6%

$4,859+30.8%

$2,671+137.9%

Participant deferral / active EE

$15,810

$6,405+146.8%

$7,760+103.7%

$4,126+283.1%

Admin fee / account holder

$4,415

$6,978-36.7%

$10,767-59.0%

$5,651-21.9%

FUNCTION ENGINEERING, INC. 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FUNCTION ENGINEERING, INC. 401(K) PROFIT SHARING PLAN & TRUST

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