Retirement plan

MORITT HOCK & HAMROFF LLP 401(K) PROFIT SHARING PLAN

Name: MORITT HOCK & HAMROFF LLP - MORITT HOCK & HAMROFF LLP 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: MORITT HOCK & HAMROFF LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MORITT HOCK & HAMROFF LLP 401(K) PROFIT SHARING PLAN, MORITT HOCK & HAMROFF LLP

MORITT HOCK & HAMROFF LLPEIN 11-2954522Plan #002PY 2020

400 GARDEN CITY PLAZA, SUITE 200 - GARDEN CITY, NY 11530516-873-2000moritthock.comLinkedIn51-200 employeeslaw practice

Other plans on this EIN

1 filing

#001Retirement--

Prospect flagsHigh feesLow employer contribution

How to read this page

Total assets (EOY)

$34.2M

+74.0% from 2019

Total participants

159

+8.9% from 2019

Average account balance

$245,851

+53.9% from 2019

Annual return

72.07%

+45.38 pp from 2019

Benchmarks

See 5,591 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,591 peers

Snapshot2020

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$47.74M

Not enough data

1 years with asset history on file

Average account balance

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

$284K

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.

168

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.

79.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.50M

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

+14.84%

Not enough data

1 years with return on file

Admin fee / account holder

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

$859

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
MLF CONSULTING GROUP INC1 year Filed as: MLF CONSULTING GROUP, INC. Service code 17	Pension Consulting	$60,700
FIDELITY INVESTMENTS INSTITUTIONAL6+ years Service code 37 · EIN 04-2647786	Loan Processing	$48,761
COMMONWEALTH FINANCIAL NETWORK6+ years Service code 27 · EIN 04-2675571	Advisory (Plan)	$41,843
RAICH ENDE MALTER & CO. LLP4 years Filed as: RAICH ENDE MALTER & CO LLP Service code 10 · EIN 11-2336434	Accounting	$25,781

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3B3D

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.
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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 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.)

Expense breakdown

Schedule H Part II

Admin total

$136K

$978 / participant

Investment mgmt$42K30.8%
Other / not subdivided$94K69.2%

% of EOY assets

0.398%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: RAICH ENDE MALTER & CO LLP
Auditor EIN: 112336434
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$245,851

$99,957+146.0%

$149,696+64.2%

$73,488+234.5%

Participation rate

85.6%

75.7%+9.9pp

82.5%+3.1pp

70.7%+14.9pp

Annual return

72.07%

53.87%+18.2pp

276.60%-204.5pp

28.51%+43.6pp

Employer contribution / active EE

$499

$3,191-84.4%

$4,644-89.3%

$2,270-78.0%

Participant deferral / active EE

$9,744

$6,073+60.5%

$6,842+42.4%

$3,740+160.6%

Admin fee / account holder

$978

$551+77.6%

$9,309-89.5%

$513+90.7%

Provider

Service type

Compensation

MLF CONSULTING GROUP INC1 year

Filed as: MLF CONSULTING GROUP, INC.

Service code 17

Pension Consulting

$60,700

FIDELITY INVESTMENTS INSTITUTIONAL6+ years

Service code 37 · EIN 04-2647786

Loan Processing

$48,761

COMMONWEALTH FINANCIAL NETWORK6+ years

Service code 27 · EIN 04-2675571

Advisory (Plan)

$41,843

RAICH ENDE MALTER & CO. LLP4 years

Filed as: RAICH ENDE MALTER & CO LLP

Service code 10 · EIN 11-2336434

Accounting

$25,781

MORITT HOCK & HAMROFF LLP 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MORITT HOCK & HAMROFF 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