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Original filing (PDF)20231011142958NAL0029677777001
UPDATE, INC.
Form 5500
FILING_RECEIVED
UPDATE, INC. 401(K) SAVINGS AND RETIREMENT PLAN
401(k) retirement plan
Signals · 1
~831 bps in Sched C fees
Active participants
61
Accounts w/ balance
25
Plan assets (EOY)
$621K
Net assets (EOY)
$621K
How this plan invests
This plan
3 collective trusts
Schedule D
Individual securities
on each trust's filing
This plan doesn't hold securities directly — it invests through trusts. Click a trust below to drill into its securities.
Plan health score (directional)
81
/ 100
Grade B
Above-average plan
Directional indicator computed from public Form 5500 data — compliance, concentration, cost, vendor stack and participation. Not a fiduciary tool.
Compliance & disclosures
100
Concentration risk
75
Total plan cost
65
Vendor stack
100
Participation health
65
Knocking points off
- 831 bps in Schedule C fees — 426% above peer band of 158 bps.
- Only 41% as many balances as active participants — suggests many active employees aren't deferring.
Helping the score
- Concentration not scored — Schedule of Assets PDF not yet parsed for this plan.
Decision-maker contacts
CFO / Head of HR / Benefits Manager — verified email + LinkedIn for UPDATE, INC..
Plan sponsor
Name
UPDATE, INC.
EIN
38-3900189
Address
1040 AVENUE OF THE AMERICAS · 11TH FLOOR · NEW YORK, NY · 10018
Phone
(212) 921-2200
Industry
Admin Support & Waste Mgmtsee all
Plan administrator
Same as plan sponsor.
Plan characteristics
Plan number
001
Plan year
2022
Plan year begin
2022-01-01
Tax period
2022-12-31
Filed
2023-10-11
Pension benefit codes
2E · Profit-sharing
2F · ERISA section 404(c)
2G · Total participant-directed accounts
2J · 401(k) feature
2K · 401(m) arrangement
3D · Pre-approved plan (master / prototype / VS)
Audit & trust (Schedule H)
Auditor
WIPFLI
Trustee / custodian
—
Trustee phone
—
Service providers (Schedule C)
4 rowsRecordkeeper
1| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| FIRST GREAT-WEST LIFE & ANNUITY | — | DENVER, CO | RECORDKEEPER | $25K | — |
Advisor / Consultant
2| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| KESTRA ADVISORY SERVICES LLC | — | AUSTIN, TX | INVESTMENT ADVISOR | $11K | — |
| COMMONWEALTH EQUITY SERVICES LLC | — | WALTHAM, MA | INVESTMENT ADVISOR | $7K | — |
TPA / Administrator
1| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| BLUE CHIP RETIREMENT PLANS, INC. | 39-1974154 | MILWAUKEE, WI | CONTRACT ADMIN. | $8K | — |
Investments
3 pooled funds· $0(0% of reported assets)
Rows tagged as a trust or pooled fund hold many underlying securities. Click one to drill into its own Schedule of Assets — where the individual funds, shares, and CUSIPs live.
| Investment | Type | Current value | % of plan |
|---|---|---|---|
| SMALL CAP VALUE FUND II FEECLASSR1 AST WILMINTON TRUST · EIN 38-4126250 / PN 000 | Common Collective Trust | $0 | <0.1% |
| LARGE CAP GROWTH FUNDII FEECLASSR1 AST WILMINGTON TRUST · EIN 31-4139848 / PN 626 | Common Collective Trust | $0 | <0.1% |
| ERS BLACKROCK TOTAL RETURN BOND RELIANCE TRUST CT OR SVF · EIN 46-7425989 / PN 007 | Common Collective Trust | $0 | <0.1% |