Retirement plan

NAES CORPORATION RETIREMENT & 401(K) PLAN

Name: NAES CORPORATION - NAES CORPORATION RETIREMENT & 401(K) PLAN (2023) Form 5500
Creator: NAES CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NAES CORPORATION RETIREMENT & 401(K) PLAN, NAES CORPORATION

NAES CORPORATIONEIN 91-1111672Plan #002PY 2023

1180 NW MAPLE STREET, SUITE 200 - ISSAQUAH, WA 98027425-961-4700naes.comLinkedIn1001-5000 employeesutilities

Other plans on this EIN

1 filing

#009Retirement-$100.6M assets

Prospect flagsFailed to provide benefitCorrective distributions

How to read this page

Total assets (EOY)

$557.5M

+18.2% from 2022

Total participants

3,264

+15.8% from 2022

Average account balance

$178,753

+2.4% from 2022

Annual return

22.98%

+40.78 pp from 2022

Benchmarks

See 73 peers

Peer group

Industry22 - Utilities

Plan typeDefined contribution

Participants1,000-4,999

Cohort73 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$643.65M

Not enough data

1 years with asset history on file

Average account balance

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

$212K

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.

3,040

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.

91.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$52.54M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$24K

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

+19.91%

Not enough data

1 years with return on file

Admin fee / account holder

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

$202

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 4 by compensation

Provider	Service type	Compensation
STRATEGIC ADVISORS, INC.9+ years Service code 27 · EIN 04-2654524	Advisory (Plan)	$301,115
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	$82,222
RUDD & COMPANY PLLC2 years Filed as: RUDD & COMPANY, PLLC Service code 10 · EIN 82-0467399	Accounting	$21,230
HIGHLAND CONSULTING ASSOCIATES1 year Filed as: HIGHLAND CAPITAL ADVISORS, LLC Service code 27 · EIN 20-4284376	Advisory (Plan)	$10,000

Plan features & details

Pension benefit codes2G2J2K2T3H3D2R2E2F

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.
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

ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$413K

$181 / participant

Recordkeeping$80K19.4%
Investment mgmt$311K75.3%
Contract admin$9000.2%
Other / not subdivided$21K5.1%

% of EOY assets

0.074%

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: RUDD & COMPANY, PLLC
Auditor EIN: 820467399
Audit fees: $21,230
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$178,753

$167,950+6.4%

$112,899+58.3%

$80,157+123.0%

Participation rate

93.7%

94.5%-0.9pp

80.5%+13.1pp

72.9%+20.7pp

Annual return

22.98%

18.78%+4.2pp

34.11%-11.1pp

40.39%-17.4pp

Employer contribution / active EE

$7,650

$6,272+22.0%

$4,566+67.5%

$2,977+156.9%

Participant deferral / active EE

$10,669

$9,857+8.2%

$6,516+63.7%

$5,015+112.7%

Admin fee / account holder

$132

$104+27.8%

$7,047-98.1%

$145-8.6%

Provider

Service type

Compensation

STRATEGIC ADVISORS, INC.9+ years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$301,115

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

$82,222

RUDD & COMPANY PLLC2 years

Filed as: RUDD & COMPANY, PLLC

Service code 10 · EIN 82-0467399

Accounting

$21,230

HIGHLAND CONSULTING ASSOCIATES1 year

Filed as: HIGHLAND CAPITAL ADVISORS, LLC

Service code 27 · EIN 20-4284376

Advisory (Plan)

$10,000

NAES CORPORATION RETIREMENT & 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NAES CORPORATION RETIREMENT & 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