401k Record

Employers › Ion Financial MHC

Ion Financial MHC 401(k)

Administrative expenses excluding investment management, per participant · ION Financial, MHC 401(k) Plan · plan year 2024

$121.64

Higher than 65% of the 8,758 plans $50 to 250M that report it.

Source

= $57,903 / 476
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250916080412NAL0001179555001, received 2025-09-16
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250916080412NAL0001179555001, received 2025-09-16

10th: $16.21median $93.2090th: $246.84

Percentiles compare this plan with the Schedule H plans $50 to 250M in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-09-16.

Cost and contributions

Recordkeeping fees per participant

not reported

Not reported on this filing.

Administrative expenses per participant

$140.78

10th: $29.39median $132.8490th: $350.58

Higher than 53% of the 9,042 plans $50 to 250M that report it.

Source

= $67,012 / 476
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250916080412NAL0001179555001, received 2025-09-16
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250916080412NAL0001179555001, received 2025-09-16

Administrative expenses as a share of assets

0.132%

10th: 0.022%median 0.136%90th: 0.326%

Higher than 49% of the 9,049 plans $50 to 250M that report it.

Source

= $67,012 / $50,793,808
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250916080412NAL0001179555001, received 2025-09-16
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250916080412NAL0001179555001, received 2025-09-16

Employer contributions per participant

$4,138

10th: $965median $2,73890th: $8,164

Higher than 70% of the 9,105 plans $50 to 250M that report it.

Source

= $1,969,904 / 476
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250916080412NAL0001179555001, received 2025-09-16
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250916080412NAL0001179555001, received 2025-09-16

Employer share of total contributions

35.5%

10th: 15.6%median 29.5%90th: 50.6%

Higher than 68% of the 9,112 plans $50 to 250M that report it.

Source

= $1,969,904 / $5,546,130
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250916080412NAL0001179555001, received 2025-09-16
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250916080412NAL0001179555001, received 2025-09-16

Plan terms, as stated in Ion Financial, MHC's SEC filings

Plan terms are not published in public filings.

Plan features

2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20250916080412NAL0001179555001, received 2025-09-16

Full record, ION Financial, MHC 401(k) Plan

FieldValueSource
Plan sponsorION FINANCIAL, MHCForm 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250916080412NAL0001179555001, received 2025-09-16
Plan nameION FINANCIAL, MHC 401K PLANForm 5500, line 1a; PLAN_NAME pos 16; filing 20250916080412NAL0001179555001, received 2025-09-16
Sponsor EIN / plan number57-1223365 / 002Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250916080412NAL0001179555001, received 2025-09-16
Plan typesingle-employerForm 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250916080412NAL0001179555001, received 2025-09-16
Sponsor locationNAUGATUCK, CTForm 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250916080412NAL0001179555001, received 2025-09-16
Industry (business code)522120, Finance and insuranceForm 5500, line 2d; BUSINESS_CODE pos 46; filing 20250916080412NAL0001179555001, received 2025-09-16
Plan year2024-01-01 to 2024-12-31Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250916080412NAL0001179555001, received 2025-09-16
Filing received2025-09-16Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250916080412NAL0001179555001, received 2025-09-16
Final filingnoForm 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250916080412NAL0001179555001, received 2025-09-16
Amended filingyesForm 5500, Part I line B; AMENDED_IND pos 7; filing 20250916080412NAL0001179555001, received 2025-09-16
Participants, beginning of year520Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250916080412NAL0001179555001, received 2025-09-16
Active participants349Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250916080412NAL0001179555001, received 2025-09-16
Participants, end of year493Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250916080412NAL0001179555001, received 2025-09-16
Participants with an account balance476Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250916080412NAL0001179555001, received 2025-09-16
Total assets, beginning of year$45,550,490Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250916080412NAL0001179555001, received 2025-09-16
Total assets, end of year$50,793,808Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250916080412NAL0001179555001, received 2025-09-16
Net assets, end of year$50,793,808Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250916080412NAL0001179555001, received 2025-09-16
Total income$12,504,076Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250916080412NAL0001179555001, received 2025-09-16
Net income$5,243,318Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250916080412NAL0001179555001, received 2025-09-16
Employer contributions$1,969,904Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250916080412NAL0001179555001, received 2025-09-16
Participant contributions$2,587,330Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250916080412NAL0001179555001, received 2025-09-16
Other contributions (incl. rollovers)$988,896Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250916080412NAL0001179555001, received 2025-09-16
Total contributions$5,546,130Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250916080412NAL0001179555001, received 2025-09-16
Benefit payments$7,193,746Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250916080412NAL0001179555001, received 2025-09-16
Total expenses (incl. benefit payments)$7,260,758Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250916080412NAL0001179555001, received 2025-09-16
Total administrative expenses$67,012Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250916080412NAL0001179555001, received 2025-09-16
Contract administrator fees$56,903Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20250916080412NAL0001179555001, received 2025-09-16
Investment advisory and management fees$9,109Schedule H, line 2i(5); INVST_MGMT_FEES_AMT pos 107; filing 20250916080412NAL0001179555001, received 2025-09-16
Administrative expenses excluding investment management$57,903derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250916080412NAL0001179555001, received 2025-09-16
Held in mutual funds$44,968,608Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20250916080412NAL0001179555001, received 2025-09-16
Independent auditorWHITTLESEY PCSchedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250916080412NAL0001179555001, received 2025-09-16

Position = column in the DOL layout for form year 2024. Filing 20250916080412NAL0001179555001, received 2025-09-16.

Service providers paid directly by the plan

ProviderRelationshipService codesDirect compensationIndirect
VOYA RETIREMENT INSURANCE & ANNUITYrecordkeeperSERVICE PROVIDER 64 Recordkeeping fees $57,919yes
VOYA RETIREMENT ADVISORS, LLCSERVICE PROVIDER 26 Investment advisory (participants) $9,092no
INSTITUTIONAL INVESTMENT CONSULTINGSERVICE PROVIDER 99 Other fees $0yes
MORNINGSTARSERVICE PROVIDER 27 Investment advisory (plan) $0yes

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 20250916080412NAL0001179555001, received 2025-09-16.

What changed since the 2023 plan year

Figure20232024Change
Total assets$45,550,490$50,793,80811.5%
Participants with a balance486476-2.1%
Administrative expenses$43,396$67,01254.4%
Recordkeeping fees per participantnot reportednot reported
Employer contributions$1,595,798$1,969,90423.4%

Prior filing 20240911063625NAL0008149393001, received 2024-09-11; the plan years are contiguous.

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Sponsor name as filed: ION FINANCIAL, MHC; SEC registrant: Ion Financial, MHC (CIK 1719266, matched by EIN).