Retirement plan

BENTLEY SYSTEMS, INCORPORATED PROFIT SHARING/401(K) PLAN

Name: BENTLEY SYSTEMS, INC. - BENTLEY SYSTEMS, INCORPORATED PROFIT SHARING/401(K) PLAN (2023) Form 5500
Creator: BENTLEY SYSTEMS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BENTLEY SYSTEMS, INCORPORATED PROFIT SHARING/401(K) PLAN, BENTLEY SYSTEMS, INC.

BENTLEY SYSTEMS, INC.EIN 95-3936623Plan #001PY 2023

685 STOCKTON DR. - EXTON, PA 19341610-458-5000bentley.comLinkedIn1001-5000 employeescomputer software

Prospect flagsHigh assets / participantFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$628M

-5.3% from 2016

Total participants

2,352

+5.9% from 2016

Average account balance

$284,800

-10.9% from 2016

Annual return

24.64%

+6.30 pp from 2016

Benchmarks

See 175 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants1,000-4,999

Cohort175 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$595.18M

Not enough data

1 years with asset history on file

Average account balance

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

$265K

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.

2,247

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.

90.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$22.11M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+6.69%

Not enough data

1 years with return on file

Admin fee / account holder

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

$289

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 7 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 15 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping	$180,329
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 26 · EIN 84-1532243	Advisory (Participants)	$114,982
CAPFINANCIAL PARTNERS LLC4 years Filed as: CAPFINANCIAL PARTNERS LLC DBA CAPTR Service code 27 4208 SIX FORKS RD STE 1700 · RALEIGH, NC 27609	Advisory (Plan)	$90,638
CARON & BLETZER, PLLC3 years Filed as: CARON & BLETZER PLLC Service code 10 1 LIBRARY LANE · KINGSTON, NH 03848	Accounting	$15,500
COWEN & COMPANY LLC1 year Service code 71 · EIN 84-1702964	Brokerage Fees	$10,627
ABOUND WEALTH MANAGEMENT LLC2 years Service code 27 · EIN 81-4120898	Advisory (Plan)	$10,402
CHARLES SCHWAB & CO., INC.9+ years Service code 26 · EIN 94-1737782	Advisory (Participants)	$578

Plan features & details

Pension benefit codes2E2F2H2J2K2R2S2T

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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.

Opportunity flags

3 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$488K

$309 / participant

Recordkeeping$180K36.9%
Investment mgmt$210K42.9%
Other / not subdivided$98K20.1%

% of EOY assets

0.078%

all-in expense ratio

Categories reported

2 / 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: $15,500
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$284,800

$103,918+174.1%

$94,677+200.8%

$80,187+255.2%

Participation rate

90.7%

85.8%+4.9pp

80.8%+9.9pp

72.9%+17.8pp

Annual return

24.64%

27.77%-3.1pp

156.95%-132.3pp

40.40%-15.8pp

Employer contribution / active EE

$3,405

$3,539-3.8%

$3,673-7.3%

$2,980+14.3%

Participant deferral / active EE

$10,843

$9,528+13.8%

$7,418+46.2%

$5,016+116.2%

Admin fee / account holder

$221

$96+129.6%

$7,222-96.9%

$145+52.7%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 15

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping

$180,329

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 26 · EIN 84-1532243

Advisory (Participants)

$114,982

CAPFINANCIAL PARTNERS LLC4 years

Filed as: CAPFINANCIAL PARTNERS LLC DBA CAPTR

Service code 27

4208 SIX FORKS RD STE 1700 · RALEIGH, NC 27609

Advisory (Plan)

$90,638

CARON & BLETZER, PLLC3 years

Filed as: CARON & BLETZER PLLC

Service code 10

1 LIBRARY LANE · KINGSTON, NH 03848

Accounting

$15,500

COWEN & COMPANY LLC1 year

Service code 71 · EIN 84-1702964

Brokerage Fees

$10,627

ABOUND WEALTH MANAGEMENT LLC2 years

Service code 27 · EIN 81-4120898

Advisory (Plan)

$10,402

CHARLES SCHWAB & CO., INC.9+ years

Service code 26 · EIN 94-1737782

Advisory (Participants)

$578

BENTLEY SYSTEMS, INCORPORATED PROFIT SHARING/401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BENTLEY SYSTEMS, INCORPORATED PROFIT SHARING/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