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 (2024) 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 2024

400 GARDEN CITY PLAZA, 2ND FLOOR - GARDEN CITY, NY 11530516-873-2000moritthock.comLinkedIn51-200 employeeslaw practice

Prospect flagsHigh feesHigh assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$47.7M

+20.0% from 2023

Total participants

200

+4.2% from 2023

Average account balance

$284,182

+10.0% from 2023

Annual return

14.84%

-2.43 pp from 2023

Benchmarks

See 6,280 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,280 peers

Snapshot2024

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

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

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

Service providers

Top 5 by compensation

Provider	Service type	Compensation
COMMONWEALTH FINANCIAL NETWORK10+ years Service code 27 · EIN 04-2675571	Advisory (Plan)	$62,931
FIDELITY INVESTMENTS INSTITUTIONAL10+ years Service code 64 · EIN 04-2647786	Recordkeeping Fees	$45,575
EISNERAMPER LLP3 years Service code 10 · EIN 87-1363769	Accounting	$24,150
INTAC ACTUARIAL SERVICES3 years Service code 49 · EIN 22-2446239	Other Services	$6,160
STRATEGIC ADVISORS, INC.3 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$5,550

Plan features & details

Pension benefit codes2E2F2G2J2K2T3B3D

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.
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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$144K

$908 / participant

Recordkeeping$46K31.6%
Investment mgmt$68K47.4%
Other / not subdivided$30K21.0%

% of EOY assets

0.302%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: EISNERAMPER LLP
Auditor EIN: 871363769
Audit fees: $24,150
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$284,182

$101,653+179.6%

$147,080+93.2%

$74,459+281.7%

Participation rate

79.9%

75.6%+4.3pp

82.2%-2.3pp

67.2%+12.7pp

Annual return

14.84%

8754.98%-8740.1pp

420.17%-405.3pp

1369.70%-1354.9pp

Employer contribution / active EE

$2,049

$3,813-46.3%

$4,933-58.5%

$2,626-21.9%

Participant deferral / active EE

$13,701

$7,304+87.6%

$8,066+69.9%

$4,350+215.0%

Admin fee / account holder

$859

$1,752-50.9%

$12,989-93.4%

$1,945-55.8%

Provider

Service type

Compensation

COMMONWEALTH FINANCIAL NETWORK10+ years

Service code 27 · EIN 04-2675571

Advisory (Plan)

$62,931

FIDELITY INVESTMENTS INSTITUTIONAL10+ years

Service code 64 · EIN 04-2647786

Recordkeeping Fees

$45,575

EISNERAMPER LLP3 years

Service code 10 · EIN 87-1363769

Accounting

$24,150

INTAC ACTUARIAL SERVICES3 years

Service code 49 · EIN 22-2446239

Other Services

$6,160

STRATEGIC ADVISORS, INC.3 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$5,550

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