Retirement plan

LAW OFFICES OF RICHARD FRANCIS 401(K) PROFIT SHARING PLAN

Name: LAW OFFICES OF RICHARD FRANCIS - LAW OFFICES OF RICHARD FRANCIS 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: LAW OFFICES OF RICHARD FRANCIS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LAW OFFICES OF RICHARD FRANCIS 401(K) PROFIT SHARING PLAN, LAW OFFICES OF RICHARD FRANCIS

LAW OFFICES OF RICHARD FRANCISEIN 05-0557833Plan #001PY 2023

711 S A STREET - OXNARD, CA 93030805-486-5898LinkedIn1-10 employees

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$373K

+76.9% from 2022

Total participants

-11.8% from 2022

Average account balance

$26,674

+89.6% from 2022

Annual return

25.12%

+54.50 pp from 2022

Benchmarks

See 139,766 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort139,766 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$536K

Not enough data

1 years with asset history on file

Average account balance

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

$45K

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.

85.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$113K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+16.27%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1047

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 codes2E2G2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

$4K

$324 / participant

Other / not subdivided$4K100.0%

% of EOY assets

1.129%

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

$26,674

$148,623-82.1%

$135,974-80.4%

$139,466-80.9%

Participation rate

92.3%

83.9%+8.4pp

81.9%+10.4pp

80.3%+12.0pp

Annual return

25.12%

79.30%-54.2pp

68.30%-43.2pp

373.66%-348.5pp

Employer contribution / active EE

$3,601

$5,246-31.4%

$4,859-25.9%

$4,754-24.2%

Participant deferral / active EE

$5,097

$8,103-37.1%

$7,760-34.3%

$6,712-24.1%

Admin fee / account holder

$301

$12,406-97.6%

$10,767-97.2%

$11,409-97.4%

LAW OFFICES OF RICHARD FRANCIS 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LAW OFFICES OF RICHARD FRANCIS 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