Puerto Rico › Finance and insurance › 500 to 999 participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
Plan de Ahorro Empleados Island Finance
Sponsored by Island Finance, LLC, San Juan, PR
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
Island Finance, LLC of San Juan, Puerto Rico sponsors Plan de Ahorro Empleados Island Finance, a 401(k) plan. Its Form 5500 for the plan year ending 31 Dec 2025 shows 549 participants (461 active) and $13.0M in net assets.
Net assets came to $20,805 per participant in plan year 2024, well below the $46,267 median for defined contribution plans with 500 to 999 participants and well below the $92,294 median for defined contribution plans in finance and insurance. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The employer contributed $234K during the year, or $508 per active participant against a same-size median of $1,934; participants contributed $642K and $25K arrived as rollovers and other contributions. Benefits paid out totalled $1.5M.
Schedule C lists 7 service provider organisations paid $5,000 or more, with reported compensation of $56K: $103 per participant, above the same-size median of $113. Administrative expenses charged to the plan were $41K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $8.4M in 2019 to $13.0M in 2025 (up 56%), and participants from 647 to 549 (down 15%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure, plan year 2024 | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $20,805 | $46,267 | $92,294 | $53,102 |
| Employer contributions per active participant | $444 | $1,934 | $3,564 | $2,175 |
| Schedule C compensation per participant | $135 | $113 | $137 | $123 |
| Schedule C compensation, share of net assets | 0.65% | 0.25% | 0.17% | 0.26% |
| Administrative expenses per participant | $118 | $109 | $130 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 500 to 999 participants (10,588 plans), finance and insurance (4,391) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2025 | 549 | $13.0M | $23,769 | $234K | $642K | $56K |
| 2024 | 585 | $12.2M | $20,805 | $229K | $606K | $79K |
| 2023 | 538 | $10.3M | $19,206 | $200K | $563K | $59K |
| 2022 | 476 | $9.1M | $19,202 | $171K | $519K | $29K |
| 2021 | 486 | $10.9M | $22,502 | $172K | $495K | $29K |
| 2020 | 563 | $9.7M | $17,167 | $185K | $515K | $21K |
| 2019 | 647 | $8.4M | $12,955 | $151K | $461K | $33K |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$12,171,078
- Employer contributions$234,016
- Participant contributions$642,249
- Rollovers and other contributions$25,002
- Total contributions$901,267
- Total income, including investment results$2,382,049
- Benefits paid$1,465,554
- Administrative expenses$41,135
- Total expenses$1,503,706
- Net income$878,343
- Net transfers$0
- Net assets, end of year$13,049,421
Participants
- Active participants461
- Retired or separated, receiving benefits88
- Retired or separated, entitled to future benefits0
- Participants with account balances490
- Total participants, end of year549
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Empower Advisory Group, LLC | Investment management | $15,202 | $0 |
| Pension Plus, Inc. | Contract Administrator | $11,255 | $0 |
| RSM Roc & Company | Accounting (including auditing) | $10,036 | $0 |
| Cetera Wealth Service LLC | Other commissions | $0 | $9,693 |
| Empower Annuity Insurance Company | Recordkeeping fees | $7,158 | $0 |
| Oriental Bank & Trust | Trustee (directed) | $2,136 | $0 |
| Oneill & Borges LLC | Legal | $907 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Other administrative expenses$41,135
- Total administrative expenses$41,135
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Registered investment companies (mutual funds)$10.0M · 76.5%
- Insurance company general account$3.0M · 22.9%
- Participant loans$82K · 0.6%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmRSM Puerto Rico
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $500,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2EProfit-sharing plan2GTotal participant-directed account plan2JCode section 401(k) feature2KCode section 401(m) arrangement3CPlan not intended to be qualified
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 522291: Consumer Lending.
Similar plans in Puerto Rico
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Cooperativa de Seguros Multiples de Puerto Rico Plan de Pensiones de Cont Def Co. | Cooperativa de Seguros Multiples de Puerto Rico | 584 | $20.8M | $35,600 |
| Alight Solutions Caribe, Inc. Savings Plan | Alight Solutions Caribe | 433 | $8.5M | $19,517 |
| Firstbank 401(k) Retirement Plan for Residents of the U.S. Virgin Islands and the USA | Firstbank of Puerto Rico | 605 | $28.9M | $47,706 |
| Medone Inc. | Benefits and Risk Management Inc. | 321 | −$14K | — |
| Mapfre Praico Retirement and Savings Plan Retirement and Savings Plan | Mapfre Praico Corporation . | 682 | $70.3M | $103,067 |
| Cooperativa de Seguros de Vida de Puerto Rico 1081.01D Salary Deferral Retirement Plan | Cooperativa de Seguros de Vida de Puerto Rico | 305 | $7.7M | $25,192 |
Defined contribution plans in finance and insurance closest in size.
Questions and answers
How big is Plan de Ahorro Empleados Island Finance?
549 participants at the end of the plan year ending 31 Dec 2025, of whom 461 were active employees, with net assets of $13,049,421. Among defined contribution plans that places it in the 500 to 999 participants band, which held 10,588 plans in plan year 2024.
What does Island Finance, LLC contribute per participant?
The filing reports $234,016 in employer contributions for the year, which is $508 per active participant; the median for plans of the same type and size was $1,934 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $56,387 in compensation to service provider organisations, $103 per participant or 0.43% of net assets. The same-size median among plans reporting any Schedule C compensation was $113 per participant. Administrative expenses on Schedule H were $41,135. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Island Finance, LLC. Recordkeeping or administration: Pension Plus, Inc. and Empower Annuity Insurance Company. Investment advisory or management: Empower Advisory Group, LLC. Trustee or custodian: Oriental Bank & Trust. The financial statements were audited by RSM Puerto Rico. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2025 to 31 Dec 2025, received by the Department of Labor on 1 Jul 2026. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 66-0878299, plan 001, received 1 Jul 2026; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.