Retirement plan

ENGAGESMART, INC. 401(K) RETIREMENT PLAN

Name: ENGAGESMART, INC. - ENGAGESMART, INC. 401(K) RETIREMENT PLAN (2022) Form 5500
Creator: ENGAGESMART, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ENGAGESMART, INC. 401(K) RETIREMENT PLAN, ENGAGESMART, INC.

ENGAGESMART, INC.EIN 83-2785225Plan #001PY 2022

30 BRAINTREE HILL OFFICE PARK, SUITE 303 - BRAINTREE, MA 02184781-848-3733engagesmart.comLinkedIn501-1000 employeescomputer software

Prospect flagsHigh cashLow assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$22.5M

No prior year

Total participants

1,071

No prior year

Average account balance

$22,148

No prior year

Annual return

-15.17%

No prior year

Benchmarks

See 3,159 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,159 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$51.82M

Not enough data

1 years with asset history on file

Average account balance

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

$45K

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.

1,140

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.

94.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$12.96M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+23.97%

Not enough data

1 years with return on file

Admin fee / account holder

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

$94

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 5 by compensation

Provider	Service type	Compensation
AMERICAN FUNDS1+ years Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI Service code 64 6455 IRVINE CENTER DRIVE · IRVINE, CA 92618	Recordkeeping Fees	$85,886
THE ANGELL PENSION GROUP, INC.1+ years Filed as: AFC PENSIONS, INC. Service code 13 200 RESERVOIR STREET, SUITE 100 · NEEDHAM, MA 02494	Contract Administrator	$39,249
KESTRA INVESTMENT SERVICES LLC1+ years Filed as: KESTRA ADVISORY SERVICES, LLC Service code 27 5707 SOUTHWEST PARKWAY, BLDG 2 · AUSTIN, TX 78735	Advisory (Plan)	$36,249
BAKER TILLY US, LLP1+ years Filed as: BAKER TILLY VIRCHOW KRAUSE, LLP Service code 99 4807 INNOVATE LN · MADISON, WI 53718	Other Fees	$22,000
GALLAGHER FIDUCIARY ADVISORS, LLC1+ years Filed as: GALLAGHER BENEFIT SERVICES Service code 27 1100 SUPERIOR AVE, SUITE 1700 · CLEVELAND, OH 44114	Advisory (Plan)	$18,750

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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

3 tripped

OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match 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

$198K

$212 / participant

Contract admin$102K51.5%
Other / not subdivided$96K48.5%

% of EOY assets

0.880%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAKER TILLY US, LLP
Auditor EIN: 390859910
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$22,148

$82,163-73.0%

$125,363-82.3%

$64,814-65.8%

Participation rate

94.3%

77.9%+16.5pp

82.4%+12.0pp

71.5%+22.9pp

Annual return

-15.17%

3.49%-18.7pp

572.15%-587.3pp

32.84%-48.0pp

Employer contribution / active EE

$1,552

$3,616-57.1%

$4,815-67.8%

$2,507-38.1%

Participant deferral / active EE

$6,334

$7,175-11.7%

$7,447-14.9%

$4,310+46.9%

Admin fee / account holder

$195

$163+19.4%

$10,005-98.1%

$188+3.7%

Provider

Service type

Compensation

AMERICAN FUNDS1+ years

Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI

Service code 64

6455 IRVINE CENTER DRIVE · IRVINE, CA 92618

Recordkeeping Fees

$85,886

THE ANGELL PENSION GROUP, INC.1+ years

Filed as: AFC PENSIONS, INC.

Service code 13

200 RESERVOIR STREET, SUITE 100 · NEEDHAM, MA 02494

Contract Administrator

$39,249

KESTRA INVESTMENT SERVICES LLC1+ years

Filed as: KESTRA ADVISORY SERVICES, LLC

Service code 27

5707 SOUTHWEST PARKWAY, BLDG 2 · AUSTIN, TX 78735

Advisory (Plan)

$36,249

BAKER TILLY US, LLP1+ years

Filed as: BAKER TILLY VIRCHOW KRAUSE, LLP

Service code 99

4807 INNOVATE LN · MADISON, WI 53718

Other Fees

$22,000

GALLAGHER FIDUCIARY ADVISORS, LLC1+ years

Filed as: GALLAGHER BENEFIT SERVICES

Service code 27

1100 SUPERIOR AVE, SUITE 1700 · CLEVELAND, OH 44114

Advisory (Plan)

$18,750

ENGAGESMART, INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ENGAGESMART, 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