Teamworks Business Services, LLC401(k)
TEAMWORKS RETIREMENT SAVINGS PLAN · PROVO, UT · plan year 2023
Peer grade: C+ · admin costs + employer contributions vs same-size plans · how grading works
Teamworks Business Services, LLC reported $55,673 in plan administrative expenses for 2023: 1.24% of average plan assets, higher than ~90% of peers. Employer contributions averaged $1,462 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 1 year on file its reported administrative ratio fell from 1.38% to 1.24%. The plan sits in the $1M–$10M size bracket, benchmarked here against 22,307 comparable plans and shown alongside other administrative & support services employers. By assets it is among the smaller plans on file in Utah (601st of 848), and 1,409th of 2,534 in administrative & support services. In 2023, employees put in $2.97 for every $1.00 the employer contributed; active participation has shrunk from 194 to 162 since 2022.
Teamworks Business Services, LLC's 2023 employer contribution ran above the $1,308 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2023 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
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Source: U.S. Department of Labor, Form 5500 series, EIN 870567952 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.