Retirement plan

GRASSI & CO. 401(K) PLAN

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

GRASSI & CO., CPAS, P.C.EIN 11-3266576Plan #001PY 2023

50 JERICHO QUADRANGLE - JERICHO, NY 11753516-256-3500LinkedIn201-500 employeesaccounting

Other plans on this EIN

1 filing

#002Retirement-$7.2M assets

Prospect flagsLow employer contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$43.4M

+17.6% from 2022

Total participants

536

+4.5% from 2022

Average account balance

$87,027

+13.9% from 2022

Annual return

20.31%

+34.29 pp from 2022

Benchmarks

See 3,232 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,232 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$52.51M

Not enough data

1 years with asset history on file

Average account balance

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

$101K

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.

521

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.

87.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.48M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+16.60%

Not enough data

1 years with return on file

Admin fee / account holder

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

$157

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 2 by compensation

Provider	Service type	Compensation
STONE HILL FIDUCIARY MANAGEMENT LL6 years Service code 27 · EIN 45-5608425	Advisory (Plan)	$37,500
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	$4,372

Plan features & details

Pension benefit codes2E2F2J2K2T3D

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).
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.
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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$42K

$100 / participant

Recordkeeping$4K10.4%
Investment mgmt$38K89.6%

% of EOY assets

0.096%

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: G T REILLY & COMPANY
Auditor EIN: 042513210
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$87,027

$95,417-8.8%

$135,974-36.0%

$74,460+16.9%

Participation rate

91.1%

78.2%+12.9pp

81.9%+9.2pp

70.7%+20.4pp

Annual return

20.31%

32.76%-12.5pp

68.30%-48.0pp

34.38%-14.1pp

Employer contribution / active EE

$3,878-100.0%

$4,859-100.0%

$2,638-100.0%

Participant deferral / active EE

$9,972

$7,789+28.0%

$7,760+28.5%

$4,530+120.1%

Admin fee / account holder

$84

$266-68.5%

$10,767-99.2%

$348-75.9%

Provider

Service type

Compensation

STONE HILL FIDUCIARY MANAGEMENT LL6 years

Service code 27 · EIN 45-5608425

Advisory (Plan)

$37,500

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

$4,372

GRASSI & CO. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GRASSI & CO. 401(K) 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