Retirement plan

TEAM NEXT LEVEL, INC. 401(K) PROFIT SHARING PLAN

Name: TEAM NEXT LEVEL, INC. - TEAM NEXT LEVEL, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: TEAM NEXT LEVEL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TEAM NEXT LEVEL, INC. 401(K) PROFIT SHARING PLAN, TEAM NEXT LEVEL, INC.

TEAM NEXT LEVEL, INC.EIN 81-4118651Plan #001PY 2024

1408 S. HARVARD, AVE. #B - TULSA, OK 74112940-782-8725

Prospect flagsHigh feesLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$1.1M

+20.8% from 2023

Total participants

118

+0.9% from 2023

Average account balance

$34,708

+17.1% from 2023

Annual return

11.10%

-3.92 pp from 2023

Benchmarks

See 1,430 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants100-249

Cohort1,430 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.15M

Not enough data

1 years with asset history on file

Average account balance

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

$35K

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.

32.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$142K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+11.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1716

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 codes2E2F2G2J2T3D3H

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

3 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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$57K

$561 / participant

Other / not subdivided$57K100.0%

% of EOY assets

4.944%

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

$34,708

$30,437+14.0%

$56,033-38.1%

$74,459-53.4%

Participation rate

15.8%

32.9%-17.0pp

52.5%-36.7pp

67.2%-51.4pp

Annual return

11.10%

24.96%-13.9pp

1711.38%-1700.3pp

1369.70%-1358.6pp

Employer contribution / active EE

$585

$610-4.0%

$1,041-43.8%

$2,626-77.7%

Participant deferral / active EE

$817

$1,176-30.5%

$1,954-58.2%

$4,350-81.2%

Admin fee / account holder

$1,716

$2,363-27.4%

$2,827-39.3%

$1,945-11.8%

TEAM NEXT LEVEL, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TEAM NEXT LEVEL, INC. 401(K) PROFIT SHARING 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