Retirement plan

FARESTART 401(K) PLAN AND TRUST

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

FARESTARTEIN 91-1546757Plan #001PY 2022

700 VIRGINIA STREET - SEATTLE, WA 98101206-443-1233farestart.orgLinkedIn201-500 employeesindividual & family services

Prospect flagsLow returnsLow participation

How to read this page

Total assets (EOY)

$3.4M

-9.4% from 2021

Total participants

195

+15.4% from 2021

Average account balance

$25,182

-10.1% from 2021

Annual return

-18.63%

-33.00 pp from 2021

Benchmarks

See 5,349 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,349 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.20M

Not enough data

1 years with asset history on file

Average account balance

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

$37K

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.

115

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.

54.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$597K

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

+13.12%

Not enough data

1 years with return on file

Admin fee / account holder

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

$189

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 1 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY5 years Service code 15 · EIN 01-0233346	Recordkeeping	$575

Plan features & details

Pension benefit codes2E2F2G2J3D

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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$18K

$140 / participant

Contract admin$17K90.2%
Other / not subdivided$2K9.8%

% of EOY assets

0.537%

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: CLARK NUBER P.S.
Auditor EIN: 911194016
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$25,182

$65,092-61.3%

$143,799-82.5%

$66,938-62.4%

Participation rate

55.0%

65.2%-10.2pp

80.3%-25.4pp

69.8%-14.9pp

Annual return

-18.63%

-11.14%-7.5pp

-0.04%-18.6pp

1.58%-20.2pp

Employer contribution / active EE

$1,700

$2,362-28.0%

$4,952-65.7%

$2,545-33.2%

Participant deferral / active EE

$3,812

$2,920+30.6%

$5,638-32.4%

$4,238-10.0%

Admin fee / account holder

$135

$502-73.1%

$14,677-99.1%

$594-77.2%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY5 years

Service code 15 · EIN 01-0233346

Recordkeeping

$575

FARESTART 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FARESTART 401(K) PLAN AND TRUST

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