How big is Update, Inc.'s plan?

Update, Inc.'s plan reported $621K in assets and 61 participants for 2022.

Original filing (PDF)20231011142958NAL0029677777001

Update, Inc.

Name: Update, Inc. — Update, Inc. 401(k) Savings and, Form 5500 (2022)
Creator: Update, Inc.
License: https://www.usa.gov/government-works

Form 5500

FILING_RECEIVED

Update, Inc. 401(k) Savings and Retirement Plan

401(k) retirement plan · Update, Inc.'s Update, Inc. 401(k) Savings and Retirement Plan held $621K in plan assets for 61 participants in 2022, with Empower as recordkeeper.

Signals · 2

High average account balance~831 bps in Sched C fees

Active participants

Accounts w/ balance

Plan assets (EOY)

$621K

Net assets (EOY)

$621K

Plan identifiers

Update, Inc.'s EIN is 38-3900189.

EIN 38-3900189

Plan number 001

Plan year 2022

ACK ID 20231011142958NAL0029677777001

Official Form 5500 document

Download the official 2022 Form 5500 (PDF) for Update, Inc. from the U.S. Department of Labor's EFAST2 system.

Download the official 2022 Form 5500 (PDF)

Plan features

Update, Inc.'s plan includes profit-sharing, ERISA 404(c) participant direction, a 401(k) feature.

Decision-maker contacts

One unlock reveals every key decision-maker — plan signer, CFO, HR & Benefits — with verified email + LinkedIn for UPDATE, INC..

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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

Above-average plan

Directional indicator from public Form 5500 data — compliance & integrity, total plan cost, participant health and vendor stack, benchmarked against same-size peers. Not a fiduciary tool.

Compliance & integrity

100

Total plan cost

Plan health

Vendor & structure

100

Knocking points off

Total administrative cost in the bottom quartile of peers (18th percentile).
Low account-holder ratio — balance-holders per active participant in the bottom quartile of peers (16th percentile).

Helping the score

High average account balance (94th percentile).

Plan sponsor

Name

UPDATE, INC.

EIN

all filings

Address

1040 AVENUE OF THE AMERICAS · 11TH FLOOR · NEW YORK, NY · 10018

Phone

(212) 921-2200

Industry

Admin Support & Waste Mgmt

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

Service providers (Schedule C)

4 rows

Recordkeeper

Name	EIN	Location	Relation	Direct comp	Indirect comp
FIRST GREAT-WEST LIFE & ANNUITY	—	DENVER, CO	RECORDKEEPER	$25K	—

Advisor / Consultant

Name	EIN	Location	Relation	Direct comp	Indirect comp
KESTRA ADVISORY SERVICES LLC	—	AUSTIN, TX	INVESTMENT ADVISOR	$11K	—

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.

			% 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%