Retirement plan

SUNWEALTH POWER INC 401(K) PROFIT SHARING PLAN & TRUST

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

SUNWEALTH POWER INCEIN 82-4092795Plan #001PY 2024

2067 MASSACHUSETTS AVE STE 540 - CAMBRIDGE, MA 021401340917-751-9149sunwealth.comLinkedIn11-50 employeesfinancial services

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.5M

+41.3% from 2023

Total participants

+3.3% from 2023

Average account balance

$25,316

+31.5% from 2023

Annual return

17.67%

-11.90 pp from 2023

Benchmarks

See 28,860 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,860 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.47M

Not enough data

1 years with asset history on file

Average account balance

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

$25K

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.

141.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$433K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+17.67%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3432

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 codes2E2F2G2J2T3D

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.

Opportunity flags

2 tripped

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

$199K

$4855 / participant

Other / not subdivided$199K100.0%

% of EOY assets

13.556%

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

$25,316

$102,385-75.3%

$147,080-82.8%

$80,935-68.7%

Participation rate

90.2%

75.9%+14.4pp

82.2%+8.1pp

67.7%+22.6pp

Annual return

17.67%

135.09%-117.4pp

420.17%-402.5pp

35.66%-18.0pp

Employer contribution / active EE

$3,079

$3,717-17.1%

$4,933-37.6%

$2,757+11.7%

Participant deferral / active EE

$7,472

$6,651+12.3%

$8,066-7.4%

$4,299+73.8%

Admin fee / account holder

$3,432

$7,951-56.8%

$12,989-73.6%

$6,924-50.4%

SUNWEALTH POWER INC 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SUNWEALTH POWER 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