Retirement plan

MOVES MANAGED SERVICES INC. 401(K) RETIREMENT PLAN

Name: MOVES MANAGED SERVICES INC. - MOVES MANAGED SERVICES INC. 401(K) RETIREMENT PLAN (2023) Form 5500
Creator: MOVES MANAGED SERVICES INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MOVES MANAGED SERVICES INC. 401(K) RETIREMENT PLAN, MOVES MANAGED SERVICES INC.

MOVES MANAGED SERVICES INC.EIN 82-4997374Plan #001PY 2023

PO BOX 2592 - DAVIDSON, NC 28036704-764-6335

Prospect flagsLow returnsHigh feesLow fidelity bondFailed to transmit contributions

How to read this page

Total assets (EOY)

$3.3M

+8.7% from 2022

Total participants

-35.4% from 2022

Average account balance

$43,966

+67.5% from 2022

Annual return

-18.01%

-24.32 pp from 2022

Benchmarks

See 28,714 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,714 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.48M

Not enough data

1 years with asset history on file

Average account balance

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

$60K

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.

93.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.06M

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

+42.70%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12531

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

Top 2 by compensation

Provider	Service type	Compensation
WILSHIRE ASSOCIATES INCORPORATED1 year Filed as: WILSHIRE ASSOCIATES INC. (USA) Service code 26 · EIN 95-2755361	Advisory (Participants)	$659
JOHN HANCOCK LIFE INSURANCE COMPANY1 year Service code 15 · EIN 01-0233346	Recordkeeping	$401

Plan features & details

Pension benefit codes2E2F2G2J3D3H2K2T

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.
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.
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

4 tripped

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

$40K

$512 / participant

Recordkeeping$5751.4%
Investment mgmt$6591.6%
Contract admin$39K96.9%

% of EOY assets

1.242%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: LEE CPA AUDIT GROUP
Auditor EIN: 814637885
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$43,966

$93,589-53.0%

$135,942-67.7%

$75,181-41.5%

Participation rate

73.4%

75.2%-1.8pp

81.9%-8.5pp

67.2%+6.2pp

Annual return

-18.01%

30.90%-48.9pp

68.28%-86.3pp

160.69%-178.7pp

Employer contribution / active EE

$4,707

$3,537+33.1%

$4,858-3.1%

$2,671+76.2%

Participant deferral / active EE

$10,355

$6,405+61.7%

$7,759+33.5%

$4,126+151.0%

Admin fee / account holder

$546

$6,977-92.2%

$10,764-94.9%

$5,650-90.3%

Provider

Service type

Compensation

WILSHIRE ASSOCIATES INCORPORATED1 year

Filed as: WILSHIRE ASSOCIATES INC. (USA)

Service code 26 · EIN 95-2755361

Advisory (Participants)

$659

JOHN HANCOCK LIFE INSURANCE COMPANY1 year

Service code 15 · EIN 01-0233346

Recordkeeping

$401

MOVES MANAGED SERVICES INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MOVES MANAGED SERVICES INC. 401(K) RETIREMENT 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