Retirement plan

BERGEN & PARKINSON, LLC PROFIT SHARING PLAN

Name: BERGEN & PARKINSON, LLC - BERGEN & PARKINSON, LLC PROFIT SHARING PLAN (2017) Form 5500
Creator: BERGEN & PARKINSON, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BERGEN & PARKINSON, LLC PROFIT SHARING PLAN, BERGEN & PARKINSON, LLC

BERGEN & PARKINSON, LLCEIN 01-0513838Plan #001PY 2017

62 PORTLAND RD STE 25 - KENNEBUNK, ME 04043207-985-7000bergenparkinson.comLinkedIn11-50 employeeslaw practice

Other plans on this EIN

1 filing

#002Retirement-$626K assets

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$3.1M

+29.5% from 2016

Total participants

-6.0% from 2016

Average account balance

$74,961

+32.6% from 2016

Annual return

23.67%

+16.60 pp from 2016

Benchmarks

See 25,067 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort25,067 peers

Snapshot2017

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$4.16M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$130K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

177.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$78K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+13.92%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$5738

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2F2G2T3D2E2J2R

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$82K

$2162 / participant

Other / not subdivided$82K100.0%

% of EOY assets

2.609%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$74,961

$85,766-12.6%

$136,298-45.0%

$70,126+6.9%

Participation rate

86.8%

74.2%+12.7pp

81.9%+4.9pp

69.5%+17.3pp

Annual return

23.67%

31.46%-7.8pp

5156.27%-5132.6pp

73.15%-49.5pp

Employer contribution / active EE

$2,966-100.0%

$4,696-100.0%

$2,343-100.0%

Participant deferral / active EE

$5,568

$5,051+10.2%

$6,247-10.9%

$3,332+67.1%

Admin fee / account holder

$1,956

$5,421-63.9%

$9,244-78.8%

$4,645-57.9%

BERGEN & PARKINSON, LLC PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BERGEN & PARKINSON, LLC PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion