Retirement plan

EMPOWER HR 401(K) PLAN

Name: EMPOWER SERVICE CORPORATION - EMPOWER HR 401(K) PLAN (2024) Form 5500
Creator: EMPOWER SERVICE CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EMPOWER HR 401(K) PLAN, EMPOWER SERVICE CORPORATION

EMPOWER SERVICE CORPORATIONEIN 83-3211926Plan #001PY 2024

101 W RENNER ROAD SUITE 420 - RICHARDSON, TX 75080972-402-5700empowerseries.comLinkedIn1-10 employeesthink tanks

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$57.2M

+20.1% from 2023

Total participants

2,329

+21.6% from 2023

Average account balance

$36,341

-15.7% from 2023

Annual return

13.42%

-4.78 pp from 2023

Benchmarks

See 387 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort387 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$57.20M

Not enough data

1 years with asset history on file

Average account balance

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

$36K

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.

1,574

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.

58.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$7.87M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+13.42%

Not enough data

1 years with return on file

Admin fee / account holder

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

$72

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 2 by compensation

Provider	Service type	Compensation
MMA SECURITIES LLC1 year Service code 27 · EIN 22-3570392	Advisory (Plan)	$72,580
STANCORP FINANCIAL GROUP1 year Service code 12 · EIN 93-1253576	Recordkeeping and information managem...	$71,269

Plan features & details

Pension benefit codes2E2F2G2J2R2T3D3H

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

$113K

$63 / participant

Contract admin$113K100.0%

% of EOY assets

0.198%

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: CROWE LLP
Auditor EIN: 350921680
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$36,341

$44,898-19.1%

$85,187-57.3%

$199,960-81.8%

Participation rate

58.2%

45.7%+12.5pp

67.5%-9.3pp

72.0%-13.8pp

Annual return

13.42%

20.98%-7.6pp

66.67%-53.2pp

34.28%-20.9pp

Employer contribution / active EE

$1,553

$1,367+13.5%

$2,732-43.2%

$3,036-48.9%

Participant deferral / active EE

$2,803

$2,670+5.0%

$4,525-38.0%

$5,087-44.9%

Admin fee / account holder

$72

$585-87.7%

$6,162-98.8%

$269-73.3%

Provider

Service type

Compensation

MMA SECURITIES LLC1 year

Service code 27 · EIN 22-3570392

Advisory (Plan)

$72,580

STANCORP FINANCIAL GROUP1 year

Service code 12 · EIN 93-1253576

Recordkeeping and information managem...

$71,269

EMPOWER HR 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EMPOWER HR 401(K) 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