401k Record

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Innovate 401(k)

Administrative expenses excluding investment management, per participant · Innovate Corp 401(k) Plan · plan year 2023

$289.42

Higher than 92% of the 17,126 plans $1 to 10M that report it.

Source

= $17,076 / 59
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20240912095857NAL0013924784001, received 2024-09-12
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20240912095857NAL0013924784001, received 2024-09-12

10th: $10.83median $92.8690th: $271.69

Percentiles compare this plan with the Schedule H plans $1 to 10M in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2023-01-01 to 2023-12-31, filing received 2024-09-12.

Cost and contributions

Recordkeeping fees per participant

not reported

Not reported on this filing.

Administrative expenses per participant

$289.42

10th: $16.05median $134.8990th: $338.53

Higher than 84% of the 17,762 plans $1 to 10M that report it.

Source

= $17,076 / 59
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20240912095857NAL0013924784001, received 2024-09-12
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20240912095857NAL0013924784001, received 2024-09-12

Administrative expenses as a share of assets

0.280%

10th: 0.056%median 0.483%90th: 1.081%

Higher than 32% of the 17,798 plans $1 to 10M that report it.

Source

= $17,076 / $6,092,373
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20240912095857NAL0013924784001, received 2024-09-12
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20240912095857NAL0013924784001, received 2024-09-12

Employer contributions per participant

$2,102

10th: $347median $1,29490th: $2,822

Higher than 77% of the 15,688 plans $1 to 10M that report it.

Source

= $124,045 / 59
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20240912095857NAL0013924784001, received 2024-09-12
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20240912095857NAL0013924784001, received 2024-09-12

Employer share of total contributions

22.1%

10th: 11.8%median 28.6%90th: 43.4%

Higher than 30% of the 15,721 plans $1 to 10M that report it.

Source

= $124,045 / $561,567
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20240912095857NAL0013924784001, received 2024-09-12
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20240912095857NAL0013924784001, received 2024-09-12

Plan terms, as stated in Innovate Corp.'s SEC filings

Plan terms are described in Innovate Corp.'s SEC filings: Form 10-K filed 2026-03-26. No term could be quoted from them with the required precision.

Plan features

2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2S pre-approved plan document · 2T default investment (QDIA) · 3D IRS pre-approved plan · 3H controlled-group sponsor · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20240912095857NAL0013924784001, received 2024-09-12

Full record, Innovate Corp 401(k) Plan

FieldValueSource
Plan sponsorINNOVATE CORPForm 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20240912095857NAL0013924784001, received 2024-09-12
Plan nameINNOVATE CORP 401(K) PLANForm 5500, line 1a; PLAN_NAME pos 16; filing 20240912095857NAL0013924784001, received 2024-09-12
Sponsor EIN / plan number54-1708481 / 002Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20240912095857NAL0013924784001, received 2024-09-12
Plan typesingle-employerForm 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20240912095857NAL0013924784001, received 2024-09-12
Sponsor locationNEW YORK, NYForm 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20240912095857NAL0013924784001, received 2024-09-12
Industry (business code)551112, Management of companies and enterprisesForm 5500, line 2d; BUSINESS_CODE pos 46; filing 20240912095857NAL0013924784001, received 2024-09-12
Plan year2023-01-01 to 2023-12-31Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20240912095857NAL0013924784001, received 2024-09-12
Filing received2024-09-12Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20240912095857NAL0013924784001, received 2024-09-12
Final filingnoForm 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20240912095857NAL0013924784001, received 2024-09-12
Amended filingnoForm 5500, Part I line B; AMENDED_IND pos 7; filing 20240912095857NAL0013924784001, received 2024-09-12
Participants, beginning of year111Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20240912095857NAL0013924784001, received 2024-09-12
Active participants24Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20240912095857NAL0013924784001, received 2024-09-12
Participants, end of year60Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20240912095857NAL0013924784001, received 2024-09-12
Participants with an account balance59Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20240912095857NAL0013924784001, received 2024-09-12
Total assets, beginning of year$12,748,293Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20240912095857NAL0013924784001, received 2024-09-12
Total assets, end of year$6,092,373Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20240912095857NAL0013924784001, received 2024-09-12
Net assets, end of year$6,092,373Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20240912095857NAL0013924784001, received 2024-09-12
Total income$2,138,207Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20240912095857NAL0013924784001, received 2024-09-12
Net income$-890,700Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20240912095857NAL0013924784001, received 2024-09-12
Employer contributions$124,045Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20240912095857NAL0013924784001, received 2024-09-12
Participant contributions$418,473Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20240912095857NAL0013924784001, received 2024-09-12
Other contributions (incl. rollovers)$19,049Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20240912095857NAL0013924784001, received 2024-09-12
Total contributions$561,567Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20240912095857NAL0013924784001, received 2024-09-12
Benefit payments$3,011,831Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20240912095857NAL0013924784001, received 2024-09-12
Total expenses (incl. benefit payments)$3,028,907Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20240912095857NAL0013924784001, received 2024-09-12
Total administrative expenses$17,076Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20240912095857NAL0013924784001, received 2024-09-12
Contract administrator fees$17,076Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20240912095857NAL0013924784001, received 2024-09-12
Administrative expenses excluding investment management$17,076derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20240912095857NAL0013924784001, received 2024-09-12
Held in common/collective trusts$4,441,060Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20240912095857NAL0013924784001, received 2024-09-12
Held in mutual funds$339,413Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20240912095857NAL0013924784001, received 2024-09-12
Independent auditorCARON & BLETZER, PLLCSchedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20240912095857NAL0013924784001, received 2024-09-12

Position = column in the DOL layout for form year 2023. Filing 20240912095857NAL0013924784001, received 2024-09-12.

Service providers paid directly by the plan

ProviderRelationshipService codesDirect compensationIndirect
PRINCIPAL LIFE INSURANCE COMPANYrecordkeeperCONTRACT ADMINISTRATOR 13 Contract administrator; 37 Participant loan processing; 50 Direct payment from the plan; 64 Recordkeeping fees $15,156yes
RETIREMENT PLAN SOLUTIONS LLCCONTRACT ADMINISTRATOR 13 Contract administrator; 49 Other services; 50 Direct payment from the plan; 99 Other fees $1,920yes

Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20240912095857NAL0013924784001, received 2024-09-12.

No filing for the previous plan year is in the data, so there is no year-over-year comparison.

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Sponsor name as filed: INNOVATE CORP; SEC registrant: INNOVATE Corp. (CIK 1006837, matched by EIN; display name from the Form 10-K cover).