Retirement plan

PRAGER METIS CPAS, LLC 401(K) SAVINGS PLAN II

Name: PRAGER METIS CPAS, LLC - PRAGER METIS CPAS, LLC 401(K) SAVINGS PLAN II (2023) Form 5500
Creator: PRAGER METIS CPAS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PRAGER METIS CPAS, LLC 401(K) SAVINGS PLAN II, PRAGER METIS CPAS, LLC

PRAGER METIS CPAS, LLCEIN 06-1667465Plan #002PY 2023

14 PENN PLAZA, SUITE 1800 - NEW YORK, NY 10122212-643-0099pragermetis.comLinkedIn201-500 employeesaccounting

Other plans on this EIN

1 filing

#003Retirement-$33.9M assets

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$30.4M

+4.8% from 2022

Total participants

280

-8.8% from 2022

Average account balance

$108,407

+14.9% from 2022

Annual return

12.27%

+25.05 pp from 2022

Benchmarks

See 6,228 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,228 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$34.95M

Not enough data

1 years with asset history on file

Average account balance

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

$122K

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.

286

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.

98.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.85M

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

+13.31%

Not enough data

1 years with return on file

Admin fee / account holder

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

$724

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 6 by compensation

Provider	Service type	Compensation
LINCOLN NATIONAL CORPORATION7 years Service code 13 · EIN 35-0472300	Contract Administrator	$95,469
LEAFHOUSE FINANCIAL ADVISORS, LLC7 years Filed as: LEAFHOUSE FINANCIAL ADVISORS Service code 26 · EIN 26-4311657	Advisory (Participants)	$28,239
DANZIGER & MARKHOFF LLP7 years Service code 15 · EIN 13-3010201	Recordkeeping	$27,169
PERIGON WEALTH MANAGEMENT, LLC1 year Filed as: PERIGON WEALTH MANAGEMENT Service code 26 · EIN 20-1006470	Advisory (Participants)	$25,877
CARON & BLETZER, PLLC4 years Service code 10 · EIN 04-3499945	Accounting	$15,000
PM WEALTH MANAGEMENT4 years Service code 26 · EIN 83-2147735	Advisory (Participants)	$2,361

Plan features & details

Pension benefit codes2A2E2G2J2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$194K

$1206 / participant

Other / not subdivided$194K100.0%

% of EOY assets

0.640%

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: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$108,407

$91,474+18.5%

$135,982-20.3%

$71,529+51.6%

Participation rate

100.0%

75.7%+24.3pp

81.9%+18.1pp

67.9%+32.1pp

Annual return

12.27%

29.89%-17.6pp

68.32%-56.1pp

28.97%-16.7pp

Employer contribution / active EE

$4,791

$3,705+29.3%

$4,859-1.4%

$2,590+85.0%

Participant deferral / active EE

$11,585

$7,095+63.3%

$7,760+49.3%

$4,291+170.0%

Admin fee / account holder

$694

$1,267-45.3%

$10,767-93.6%

$1,588-56.3%

Provider

Service type

Compensation

LINCOLN NATIONAL CORPORATION7 years

Service code 13 · EIN 35-0472300

Contract Administrator

$95,469

LEAFHOUSE FINANCIAL ADVISORS, LLC7 years

Filed as: LEAFHOUSE FINANCIAL ADVISORS

Service code 26 · EIN 26-4311657

Advisory (Participants)

$28,239

DANZIGER & MARKHOFF LLP7 years

Service code 15 · EIN 13-3010201

Recordkeeping

$27,169

PERIGON WEALTH MANAGEMENT, LLC1 year

Filed as: PERIGON WEALTH MANAGEMENT

Service code 26 · EIN 20-1006470

Advisory (Participants)

$25,877

CARON & BLETZER, PLLC4 years

Service code 10 · EIN 04-3499945

Accounting

$15,000

PM WEALTH MANAGEMENT4 years

Service code 26 · EIN 83-2147735

Advisory (Participants)

$2,361

PRAGER METIS CPAS, LLC 401(K) SAVINGS PLAN II

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PRAGER METIS CPAS, LLC 401(K) SAVINGS PLAN II

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