Retirement plan

CARMODY TORRANCE SANDAK & HENNESSEY LLP EMPLOYEES' PROFIT SHARING PLAN

Name: CARMODY TORRANCE SANDAK & HENNESSEY LLP - CARMODY TORRANCE SANDAK & HENNESSEY LLP EMPLOYEES' PROFIT SHARING PLAN (2017) Form 5500
Creator: CARMODY TORRANCE SANDAK & HENNESSEY LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CARMODY TORRANCE SANDAK & HENNESSEY LLP EMPLOYEES' PROFIT SHARING PLAN, CARMODY TORRANCE SANDAK & HENNESSEY LLP

CARMODY TORRANCE SANDAK & HENNESSEY LLPEIN 06-0691344Plan #001PY 2017

50 LEAVENWORTH STREET - WATERBURY, CT 067022112203-575-2638carmodylaw.comLinkedIn51-200 employeeslaw practice

Prospect flagsLow returnsHigh assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$63.1M

+15.9% from 2016

Total participants

174

+4.2% from 2016

Average account balance

$379,926

+13.8% from 2016

Annual return

15.04%

+6.55 pp from 2016

Benchmarks

See 5,160 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,160 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$108.52M

Not enough data

1 years with asset history on file

Average account balance

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

$631K

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.

172

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.

93.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.63M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$27K

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

+11.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

$14

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 3 by compensation

Provider	Service type	Compensation
THE BANK OF NEW YORK MELLON3+ years Filed as: BANK OF AMERICA CORPORATION Service code 52 · EIN 94-1687665	Indirect Investment Fees	$142,093
MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years Filed as: MASSMUTUAL RETIREMENT SERVICES, LLC Service code 15 · EIN 26-1589907	Recordkeeping	$44,519
RELIANCE TRUST COMPANY3+ years Service code 19 · EIN 58-1428634	Securities Custodian	$282

Plan features & details

Pension benefit codes2E2F2G2J2T3B3D

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

3 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$2K

$14 / participant

Contract admin$2K100.0%

% of EOY assets

0.003%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: WHITTLESEY PC
Auditor EIN: 060903326
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$379,926

$80,753+370.5%

$136,298+178.7%

$62,293+509.9%

Participation rate

94.0%

73.5%+20.4pp

81.9%+12.1pp

69.5%+24.5pp

Annual return

15.04%

35.83%-20.8pp

5156.27%-5141.2pp

28.90%-13.9pp

Employer contribution / active EE

$10,539

$2,884+265.5%

$4,696+124.4%

$2,042+416.0%

Participant deferral / active EE

$9,608

$5,164+86.0%

$6,247+53.8%

$3,169+203.2%

Admin fee / account holder

$11

$525-97.9%

$9,244-99.9%

$479-97.7%

Provider

Service type

Compensation

THE BANK OF NEW YORK MELLON3+ years

Filed as: BANK OF AMERICA CORPORATION

Service code 52 · EIN 94-1687665

Indirect Investment Fees

$142,093

MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years

Filed as: MASSMUTUAL RETIREMENT SERVICES, LLC

Service code 15 · EIN 26-1589907

Recordkeeping

$44,519

RELIANCE TRUST COMPANY3+ years

Service code 19 · EIN 58-1428634

Securities Custodian

$282

CARMODY TORRANCE SANDAK & HENNESSEY LLP EMPLOYEES' PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CARMODY TORRANCE SANDAK & HENNESSEY LLP EMPLOYEES' 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