Retirement plan

SUNVERA GROUP, LLC 401(K) SAVINGS PLAN

Name: SUNVERA GROUP, LLC - SUNVERA GROUP, LLC 401(K) SAVINGS PLAN (2024) Form 5500
Creator: SUNVERA GROUP, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SUNVERA GROUP, LLC 401(K) SAVINGS PLAN, SUNVERA GROUP, LLC

SUNVERA GROUP, LLCEIN 83-0665141Plan #001PY 2024

30150 TELEGRAPH RD STE 271 - BINGHAM FARMS, MI 48025248-723-5874

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$15.2M

+24.5% from 2023

Total participants

540

-2.9% from 2023

Average account balance

$42,819

+14.7% from 2023

Annual return

14.42%

-54.61 pp from 2023

Benchmarks

See 4,117 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,117 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.24M

Not enough data

1 years with asset history on file

Average account balance

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

$43K

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.

356

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.

63.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.87M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+14.42%

Not enough data

1 years with return on file

Admin fee / account holder

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

$120

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
MERRILL LYNCH PIERCE FENNER & SMITH1 year Service code 17 · EIN 13-5674085	Pension Consulting	$33,069
PRINCIPAL LIFE INSURANCE COMPANY2 years Service code 13 · EIN 42-0127290	Contract Administrator	$9,607
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$43K

$84 / participant

Investment mgmt$13K31.0%
Contract admin$10K22.5%
Other / not subdivided$20K46.5%

% of EOY assets

0.280%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PLANTE & MORAN, PLLC
Auditor EIN: 331498605
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$42,819

$50,919-15.9%

$155,556-72.5%

$77,762-44.9%

Participation rate

63.7%

63.1%+0.6pp

78.2%-14.5pp

70.6%-6.9pp

Annual return

14.42%

34.84%-20.4pp

64.84%-50.4pp

31.27%-16.9pp

Employer contribution / active EE

$1,865

$1,991-6.3%

$4,675-60.1%

$2,728-31.6%

Participant deferral / active EE

$3,790

$2,824+34.2%

$5,631-32.7%

$4,651-18.5%

Admin fee / account holder

$120

$437-72.6%

$15,885-99.2%

$433-72.3%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH1 year

Service code 17 · EIN 13-5674085

Pension Consulting

$33,069

PRINCIPAL LIFE INSURANCE COMPANY2 years

Service code 13 · EIN 42-0127290

Contract Administrator

$9,607

MORNINGSTAR1 year

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L

Service code 26 · EIN 36-4317381

Advisory (Participants)

SUNVERA GROUP, LLC 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SUNVERA GROUP, LLC 401(K) SAVINGS 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