Retirement plan

RITE OF PASSAGE, INC. 401K PLAN

Name: RITE OF PASSAGE, INC. - RITE OF PASSAGE, INC. 401K PLAN (2023) Form 5500
Creator: RITE OF PASSAGE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RITE OF PASSAGE, INC. 401K PLAN, RITE OF PASSAGE, INC.

RITE OF PASSAGE, INC.EIN 88-0235002Plan #002PY 2023

2560 BUSINESS PKWY, STE. A - MINDEN, NV 894238961775-267-9411riteofpassage.comLinkedIn1001-5000 employeesindividual & family services

Prospect flagsLow returnsLow participationLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$31.3M

+14.8% from 2022

Total participants

1,326

+16.3% from 2022

Average account balance

$44,132

+4.0% from 2022

Annual return

14.47%

+28.61 pp from 2022

Benchmarks

See 929 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort929 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$34.30M

Not enough data

1 years with asset history on file

Average account balance

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

$48K

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.

721

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.

43.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.04M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+11.67%

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

See the 10-year trajectory. $4.99 for your first month.

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
NATIONWIDE9+ years Service code 15 · EIN 31-1592130 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$143,951
LINCOLN NATIONAL CORPORATION9+ years Filed as: LINCOLN INVESTMENT PLANNING Service code 52 601 OFFICE CENTER DR STE 300 · FORT WASHINGTON, PA 190341595	Indirect Investment Fees	$84,345
NORTON ROSE FULBRIGHT9+ years Filed as: NORTON RETIREMENT SERVICES, INC. Service code 15 · EIN 86-1009405 P.O. BOX 6450 · GLENDALE, AZ 85312	Recordkeeping	$38,395
LEAFHOUSE FINANCIAL ADVISORS, LLC5 years Filed as: LEAFHOUSE FINANCIAL ADVISORS LLC Service code 28 · EIN 26-4311657 6504 BRIDGEPOINT PARKWAY STE 450 · AUSTIN, TX 78730	Investment Management	$14,302

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.

Opportunity flags

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant 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 transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$58K

$51 / participant

Investment mgmt$58K100.0%

% of EOY assets

0.186%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: FARBER HASS HURLEY LLP
Auditor EIN: 204207759
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$44,132

$107,459-58.9%

$135,903-67.5%

$80,160-44.9%

Participation rate

45.4%

78.0%-32.7pp

81.9%-36.5pp

72.9%-27.5pp

Annual return

14.47%

91.91%-77.4pp

68.23%-53.8pp

40.38%-25.9pp

Employer contribution / active EE

$1,446

$3,877-62.7%

$4,856-70.2%

$2,978-51.4%

Participant deferral / active EE

$1,795

$8,195-78.1%

$7,758-76.9%

$5,017-64.2%

Admin fee / account holder

$82

$127-35.3%

$10,762-99.2%

$145-43.4%

Provider

Service type

Compensation

NATIONWIDE9+ years

Service code 15 · EIN 31-1592130

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$143,951

LINCOLN NATIONAL CORPORATION9+ years

Filed as: LINCOLN INVESTMENT PLANNING

Service code 52

601 OFFICE CENTER DR STE 300 · FORT WASHINGTON, PA 190341595

Indirect Investment Fees

$84,345

NORTON ROSE FULBRIGHT9+ years

Filed as: NORTON RETIREMENT SERVICES, INC.

Service code 15 · EIN 86-1009405

P.O. BOX 6450 · GLENDALE, AZ 85312

Recordkeeping

$38,395

LEAFHOUSE FINANCIAL ADVISORS, LLC5 years

Filed as: LEAFHOUSE FINANCIAL ADVISORS LLC

Service code 28 · EIN 26-4311657

6504 BRIDGEPOINT PARKWAY STE 450 · AUSTIN, TX 78730

Investment Management

$14,302

RITE OF PASSAGE, INC. 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RITE OF PASSAGE, INC. 401K 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