Retirement plan

BERCHEM MOSES, P.C. 401(K) RETIREMENT PLAN

Name: BERCHEM MOSES, P.C. - BERCHEM MOSES, P.C. 401(K) RETIREMENT PLAN (2023) Form 5500
Creator: BERCHEM MOSES, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BERCHEM MOSES, P.C. 401(K) RETIREMENT PLAN, BERCHEM MOSES, P.C.

BERCHEM MOSES, P.C.EIN 06-0902199Plan #003PY 2023

75 BROAD STREET - MILFORD, CT 06460203-882-4145berchemmoses.comLinkedIn51-200 employeeslegal services

Prospect flagsHigh feesHigh assets / participantLow employer contribution

How to read this page

Total assets (EOY)

$20.1M

+17.6% from 2022

Total participants

+2.9% from 2022

Average account balance

$340,468

+21.5% from 2022

Annual return

17.16%

+33.06 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

$23.34M

Not enough data

1 years with asset history on file

Average account balance

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

$338K

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.

96.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$980K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+14.42%

Not enough data

1 years with return on file

Admin fee / account holder

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

$9357

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 codes2F2G2J2T3D

Plan features

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.
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 employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$512K

$8673 / participant

Other / not subdivided$512K100.0%

% of EOY assets

2.547%

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

$340,468

$93,617+263.7%

$135,982+150.4%

$75,177+352.9%

Participation rate

81.4%

75.2%+6.2pp

81.9%-0.6pp

67.2%+14.2pp

Annual return

17.16%

30.89%-13.7pp

68.32%-51.2pp

160.75%-143.6pp

Employer contribution / active EE

$3,538-100.0%

$4,859-100.0%

$2,671-100.0%

Participant deferral / active EE

$9,279

$6,406+44.9%

$7,760+19.6%

$4,126+124.9%

Admin fee / account holder

$8,673

$6,980+24.3%

$10,767-19.5%

$5,651+53.5%

BERCHEM MOSES, P.C. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BERCHEM MOSES, P.C. 401(K) 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