Retirement plan

DOWNS RACHLIN MARTIN RETIREMENT PLAN

Name: DOWNS RACHLIN MARTIN PLLC - DOWNS RACHLIN MARTIN RETIREMENT PLAN (2022) Form 5500
Creator: DOWNS RACHLIN MARTIN PLLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DOWNS RACHLIN MARTIN RETIREMENT PLAN, DOWNS RACHLIN MARTIN PLLC

DOWNS RACHLIN MARTIN PLLCEIN 03-0253168Plan #001PY 2022

90 PROSPECT STREET - ST. JOHNSBURY, VT 058190099802-748-8324drm.comLinkedIn51-200 employeeslaw practice

Prospect flagsHigh feesHigh assets / participantFailed to provide benefit

How to read this page

Total assets (EOY)

$94.4M

-15.7% from 2021

Total participants

190

+4.4% from 2021

Average account balance

$502,178

-18.4% from 2021

Annual return

-15.93%

-28.08 pp from 2021

Benchmarks

See 5,988 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,988 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$119.63M

Not enough data

1 years with asset history on file

Average account balance

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

$633K

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.

189

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.

95.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.15M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$32K

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

+12.66%

Not enough data

1 years with return on file

Admin fee / account holder

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

$871

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 5 by compensation

Provider	Service type	Compensation
GLOBAL RETIREMENT PARTNERS LLC1 year Service code 27 · EIN 47-1411118	Advisory (Plan)	$97,950
FIDELITY INVESTMENTS INSTITUTIONAL8+ years Service code 37 · EIN 04-2647786	Loan Processing	$33,879
COMMONWEALTH FINANCIAL NETWORK5 years Service code 27 · EIN 04-2675571	Advisory (Plan)	$22,014
CARON & BLETZER, PLLC8+ years Filed as: CARON & BLETZER PLLC Service code 16 · EIN 04-3499945	Consulting	$10,500
SHERIDAN ROAD ADVISORS LLC1 year Filed as: HUB RETIREMENT AND WEALTH MANAG Service code 16 · EIN 04-2623673	Consulting	$6,355

Plan features & details

Pension benefit codes3H2E2F2G2J2K2S2T3D2R

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$171K

$1434 / participant

Other / not subdivided$171K100.0%

% of EOY assets

0.181%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CARON & BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$502,178

$84,482+494.4%

$125,363+300.6%

$66,930+650.3%

Participation rate

98.3%

76.4%+21.9pp

82.4%+15.9pp

69.8%+28.5pp

Annual return

-15.93%

-8.49%-7.4pp

572.15%-588.1pp

1.57%-17.5pp

Employer contribution / active EE

$18,105

$3,553+409.6%

$4,815+276.0%

$2,545+611.4%

Participant deferral / active EE

$12,598

$6,782+85.8%

$7,447+69.2%

$4,238+197.3%

Admin fee / account holder

$908

$685+32.6%

$10,005-90.9%

$593+53.0%

Provider

Service type

Compensation

GLOBAL RETIREMENT PARTNERS LLC1 year

Service code 27 · EIN 47-1411118

Advisory (Plan)

$97,950

FIDELITY INVESTMENTS INSTITUTIONAL8+ years

Service code 37 · EIN 04-2647786

Loan Processing

$33,879

COMMONWEALTH FINANCIAL NETWORK5 years

Service code 27 · EIN 04-2675571

Advisory (Plan)

$22,014

CARON & BLETZER, PLLC8+ years

Filed as: CARON & BLETZER PLLC

Service code 16 · EIN 04-3499945

Consulting

$10,500

SHERIDAN ROAD ADVISORS LLC1 year

Filed as: HUB RETIREMENT AND WEALTH MANAG

Service code 16 · EIN 04-2623673

Consulting

$6,355

DOWNS RACHLIN MARTIN RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DOWNS RACHLIN MARTIN RETIREMENT 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