Nova 401(k) Associates
FIRM INFORMATION 10777 Northwest Freeway, Suite 440, Houston, TX 77092
Russell Hooker, (713) 855-2382, russ@nova401k.com
nova401k.comBUSINESS PROFILEYear established:
2000National or local TPA:
NationalAre you a producing TPA or a 'non-producing TPA'?
Non-producingDC recordkeeping platform:
No (use partner providers' platforms)NUMBER OF PERSONNEL SERVING RETIREMENT PLANSSenior management:
8Other managers/administrators:
50Actuaries:
4Sales staff:
10Support staff:
20RETIREMENT PLAN PROFILERetirement plan assets under administration:
Total number of retirement plans under administration:
3,000Total number of retirement plan participants under administration:
150,000NUMBER OF PLANS BY TYPE401(k):
2,575403(b):
35457:
15Nonqualified Deferred Compensation:
0Other DC:
150Defined Benefit/Cash Balance/Hybrid:
225FEE STRUCTURESFixed fee:
Fixed fee dependent on services chosenPer participant fee:
YesBasis points on assets:
YesOther:
Fees offset by revenue sharing agreements?
Not applicable (no investments sold) State(s) where offices are located:
Arizona (AZ), California (CA), Colorado (CO), Kentucky (KY), Maryland (MD), Minnesota (MN), New Jersey (NJ), New York (NY), North Carolina (NC), Ohio (OH), Pennsylvania (PA), South Carolina (SC), Texas (TX), Virginia (VA), Wisconsin (WI)PLAN ASSET SIZES SERVED<$1 million:
Yes$1 million - $5 million:
Yes>$5 million - $10 million:
Yes>$10 million - $25 million:
Yes>$25 million - $50 million:
Yes>$50 million - $100 million:
No>$100 million - $200 million:
No>$200 million - $500 million:
No>$500 million - $1 billion:
No>$1 billion:
NoRECORDKEEPING RELATIONSHIPSNumber of recordkeepers with DC selling agreements:
Number of recordkeepers with DC assets:
25Number of recordkeepers where new plans placed:
8FIDUCIARY SERVICESPlan level 3(16) services:
YesPlan level 3(38) services:
NoParticipant level fiduciary services:
NoPRODUCTS/SERVICES OFFERED TO ADVISERS AND/OR PLANSCompliance support:
YesPlan benchmarking:
NoTarget-date evaluation tools:
NoInvestment committee meetings:
NoDesign/amend DC plan documents:
YesDesign/amend DB plan documents:
YesRecordkeeper transitions:
YesPrepare benefit statements:
YesProcess plan distributions:
YesPrepare loan paperwork:
YesNon-discrimination testing:
YesAllocation of contributions/forfeitures:
YesCalculate participant vesting %:
YesActuarial calculations & support:
YesForm 5500 preparation:
YesForm 5500 signing:
NoPlan audit support:
YesQDRO review:
YesSmall rollover IRA processing:
NoProvide fiduciary education:
NoAnnual 408(b)(2) assessment of fees:
NoInvestment selection services:
NoInvestment monitoring:
NoPRODUCTS/SERVICES OFFERED TO PLAN PARTICIPANTSEnrollment meetings (at time of hire):
NoRe-Enrollment meetings (after hire):
NoOne-on-one meetings with participants:
NoRollover assistance (into plan):
NoDistribution assistance (upon separation):
YesRetirement income planning:
NoFinancial/debt counseling:
NoEstate/tax planning:
NoAuthorize participant requests:
NoPrepare/deliver required participant notices:
No
