Retirement plan

CUMULUS MEDIA 401(K) PLAN

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

CUMULUS RADIO CORPORATIONEIN 86-0703641Plan #001PY 2024

780 JOHNSON FERRY RD NE, SUITE 500 - ATLANTA, GA 30342404-260-6613

Prospect flagsLow returnsLow employer contributionFailed to provide benefit

How to read this page

Total assets (EOY)

$262.1M

+6.7% from 2023

Total participants

4,371

-23.0% from 2023

Average account balance

$65,919

+39.6% from 2023

Annual return

11.90%

-4.15 pp from 2023

Benchmarks

See 176 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants1,000-4,999

Cohort176 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$262.09M

Not enough data

1 years with asset history on file

Average account balance

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

$66K

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.

3,976

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.

87.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$19.40M

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

+11.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$90

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
FIDELITY INVESTMENTS INSTITUTIONAL7+ years Service code 37 · EIN 04-2647786	Loan Processing	$286,199
SAGEVIEW ADVISORY GROUP, LLC5 years Filed as: SAGEVIEW ADVISORY GROUP LLC Service code 27 · EIN 33-0818667	Advisory (Plan)	$58,500
WINDHAM BRANNON3 years Filed as: WINDHAM BRANNON, LLC Service code 10 · EIN 58-1763439	Accounting	$15,000

Plan features & details

Pension benefit codes2F2G2J2K2S2T3D3H2E

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.
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

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.

Expense breakdown

Schedule H Part II

Admin total

$360K

$116 / participant

Recordkeeping$285K79.2%
Investment mgmt$59K16.3%
Contract admin$1K0.3%
Other / not subdivided$15K4.2%

% of EOY assets

0.137%

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: WINDHAM BRANNON, LLC
Auditor EIN: 581763439
Audit fees: $15,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$65,919

$115,744-43.0%

$100,392-34.3%

$199,960-67.0%

Participation rate

87.2%

85.7%+1.6pp

81.5%+5.7pp

72.0%+15.2pp

Annual return

11.90%

17.79%-5.9pp

49.45%-37.6pp

34.28%-22.4pp

Employer contribution / active EE

$786

$3,657-78.5%

$3,941-80.1%

$3,036-74.1%

Participant deferral / active EE

$5,485

$9,844-44.3%

$8,090-32.2%

$5,087+7.8%

Admin fee / account holder

$90

$93-2.6%

$7,904-98.9%

$269-66.4%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL7+ years

Service code 37 · EIN 04-2647786

Loan Processing

$286,199

SAGEVIEW ADVISORY GROUP, LLC5 years

Filed as: SAGEVIEW ADVISORY GROUP LLC

Service code 27 · EIN 33-0818667

Advisory (Plan)

$58,500

WINDHAM BRANNON3 years

Filed as: WINDHAM BRANNON, LLC

Service code 10 · EIN 58-1763439

Accounting

$15,000

CUMULUS MEDIA 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CUMULUS MEDIA 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