Retirement plan

BERTELSMANN 401(K) SAVINGS PLAN

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

BERTELSMANN, INC.EIN 95-2949493Plan #004PY 2023

1745 BROADWAY, CORPORATE BENEFITS DEPT, 20TH FLOOR - NEW YORK, NY 10019212-782-1150bertelsmannethics.comLinkedIn1001-5000 employeespublishing

Other plans on this EIN

1 filing

#003Retirement-$124.3M assets

Prospect flagsFailed to transmit contributionsFailed to provide benefitCorrective distributions

Top hat statement on fileNQDC

Filed October 18, 2019 (most recent of 2 filings on file)

Plan administrator

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1745 Broadway, Corporate Benefits Dept., 20th Floor

New York, NY 10019

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Plans declared (1)

Retirement Pension Agreement for Michael Dornemann1 emp

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Total assets (EOY)

$1762.7M

-0.5% from 2016

Total participants

14,571

-1.5% from 2016

Average account balance

$127,742

-2.7% from 2016

Annual return

19.18%

-1.88 pp from 2016

Benchmarks

See 1,192 peers

Peer group

Industryany (size+type match)

Plan typeDefined contribution

Participants5,000-9,999

Cohort1,192 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.96B

Not enough data

1 years with asset history on file

Average account balance

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

$139K

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.

14,062

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.

90.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$103.95M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+15.37%

Not enough data

1 years with return on file

Admin fee / account holder

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

$54

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
STRATEGIC ADVISORS, INC.3 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$607,588
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	$472,876
MERCER9+ years Service code 16 · EIN 61-0736136	Consulting	$138,508
CARON & BLETZER, PLLC9+ years Filed as: CARON & BLETZER Service code 10 · EIN 04-3499945	Accounting	$30,800
ALSTON & BIRD LLP9+ years Service code 16 · EIN 58-0137615	Consulting	$10,010

Plan features & details

Pension benefit codes2F2G2J2K2S2T2E3H2U

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.
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

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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

$1.3M

$143 / participant

Recordkeeping$469K37.2%
Investment mgmt$589K46.8%
Contract admin$4K0.3%
Other / not subdivided$198K15.7%

% of EOY assets

0.071%

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: CARON & BLETZER PLLC
Auditor EIN: 043499945
Audit fees: $30,300
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$127,742

$103,657+23.2%

$94,677+34.9%

$103,657+23.2%

Participation rate

91.2%

73.4%+17.8pp

80.8%+10.4pp

73.4%+17.8pp

Annual return

19.18%

33.13%-13.9pp

156.95%-137.8pp

33.13%-13.9pp

Employer contribution / active EE

$4,235

$3,216+31.7%

$3,673+15.3%

$3,216+31.7%

Participant deferral / active EE

$6,913

$5,218+32.5%

$7,418-6.8%

$5,218+32.5%

Admin fee / account holder

$91

$114-20.0%

$7,222-98.7%

$114-20.0%

Provider

Service type

Compensation

STRATEGIC ADVISORS, INC.3 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$607,588

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

$472,876

MERCER9+ years

Service code 16 · EIN 61-0736136

Consulting

$138,508

CARON & BLETZER, PLLC9+ years

Filed as: CARON & BLETZER

Service code 10 · EIN 04-3499945

Accounting

$30,800

ALSTON & BIRD LLP9+ years

Service code 16 · EIN 58-0137615

Consulting

$10,010

BERTELSMANN 401(K) SAVINGS PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BERTELSMANN 401(K) SAVINGS PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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