Retirement plan

BAILES, BATES AND ASSOCIATES, LLP 401(K) PROFIT SHARING PLAN

Name: BAILES, BATES AND ASSOCIATES, LLP - BAILES, BATES AND ASSOCIATES, LLP 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: BAILES, BATES AND ASSOCIATES, LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BAILES, BATES AND ASSOCIATES, LLP 401(K) PROFIT SHARING PLAN, BAILES, BATES AND ASSOCIATES, LLP

BAILES, BATES AND ASSOCIATES, LLPEIN 03-0502567Plan #002PY 2023

1650 HIGHWAY 6,, SUITE 470 - SUGAR LAND, TX 77478281-565-6400bailesbatescpas.comLinkedIn11-50 employeesaccounting

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$4.1M

+17.7% from 2022

Total participants

+57.1% from 2022

Average account balance

$178,500

+2.3% from 2022

Annual return

19.57%

+35.06 pp from 2022

Benchmarks

See 28,703 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,703 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.51M

Not enough data

1 years with asset history on file

Average account balance

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

$125K

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.

128.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$270K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+12.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$11056

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 codes2E2J2F2G3D2T3B

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.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$357K

$12318 / participant

Other / not subdivided$357K100.0%

% of EOY assets

8.701%

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

$178,500

$93,617+90.7%

$135,982+31.3%

$75,177+137.4%

Participation rate

65.5%

75.2%-9.7pp

81.9%-16.4pp

67.2%-1.7pp

Annual return

19.57%

30.89%-11.3pp

68.32%-48.8pp

160.75%-141.2pp

Employer contribution / active EE

$1,584

$3,538-55.2%

$4,859-67.4%

$2,671-40.7%

Participant deferral / active EE

$7,987

$6,406+24.7%

$7,760+2.9%

$4,126+93.6%

Admin fee / account holder

$15,532

$6,980+122.5%

$10,767+44.2%

$5,651+174.8%

BAILES, BATES AND ASSOCIATES, LLP 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BAILES, BATES AND ASSOCIATES, LLP 401(K) 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