Retirement plan

ABRAMS FENSTERMAN, LLP 401(K) RETIREMENT PLAN

Name: ABRAMS FENSTERMAN, LLP - ABRAMS FENSTERMAN, LLP 401(K) RETIREMENT PLAN (2024) Form 5500
Creator: ABRAMS FENSTERMAN, LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ABRAMS FENSTERMAN, LLP 401(K) RETIREMENT PLAN, ABRAMS FENSTERMAN, LLP

ABRAMS FENSTERMAN, LLPEIN 11-3522661Plan #001PY 2024

3 DAKOTA DRIVE, SUITE 300 - LAKE SUCCESS, NY 11042516-328-2300abramslaw.comLinkedIn51-200 employeeslaw practice

Prospect flagsLow returnsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$21.2M

+6.9% from 2023

Total participants

341

+38.1% from 2023

Average account balance

$82,649

-28.9% from 2023

Annual return

10.19%

-4.75 pp from 2023

Benchmarks

See 3,298 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,298 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$21.24M

Not enough data

1 years with asset history on file

Average account balance

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

$83K

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.

257

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.

71.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.30M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+10.19%

Not enough data

1 years with return on file

Admin fee / account holder

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

$504

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
JEROME KRANTZ6 years Service code 27 · EIN 11-5387962	Advisory (Plan)	$48,028
PRINCIPAL LIFE INSURANCE COMPANY7 years Service code 13 · EIN 42-0127290	Contract Administrator	$42,305
PAVOL AND COMPANY CO.1 year Service code 10 · EIN 81-0777739	Accounting	$25,999
ORENDA RETIREMENT, LLC1 year Filed as: ORENDA RETIREMENT LLC Service code 13 · EIN 36-4877979	Contract Administrator	$19,810
PENSIONS PLUS, INC.2 years Filed as: UB PENSIONS Service code 13 · EIN 36-4517541	Contract Administrator	$4,891
WILSHIRE ASSOCIATES INCORPORATED2 years Filed as: WILSHIRE ADVISORS LLC Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2A2E2J2K2F2G3D3B

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.
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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$130K

$439 / participant

Contract admin$104K79.9%
Other / not subdivided$26K20.1%

% of EOY assets

0.610%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BDO USA P.C.
Auditor EIN: 135381590
Audit fees: $25,999
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$82,649

$106,230-22.2%

$147,080-43.8%

$77,736+6.3%

Participation rate

71.5%

78.4%-6.9pp

82.2%-10.7pp

70.6%+0.9pp

Annual return

10.19%

56.91%-46.7pp

420.17%-410.0pp

31.26%-21.1pp

Employer contribution / active EE

$1,795

$4,072-55.9%

$4,933-63.6%

$2,728-34.2%

Participant deferral / active EE

$5,986

$8,001-25.2%

$8,066-25.8%

$4,651+28.7%

Admin fee / account holder

$504

$338+49.1%

$12,989-96.1%

$433+16.4%

Provider

Service type

Compensation

JEROME KRANTZ6 years

Service code 27 · EIN 11-5387962

Advisory (Plan)

$48,028

PRINCIPAL LIFE INSURANCE COMPANY7 years

Service code 13 · EIN 42-0127290

Contract Administrator

$42,305

PAVOL AND COMPANY CO.1 year

Service code 10 · EIN 81-0777739

Accounting

$25,999

ORENDA RETIREMENT, LLC1 year

Filed as: ORENDA RETIREMENT LLC

Service code 13 · EIN 36-4877979

Contract Administrator

$19,810

PENSIONS PLUS, INC.2 years

Filed as: UB PENSIONS

Service code 13 · EIN 36-4517541

Contract Administrator

$4,891

WILSHIRE ASSOCIATES INCORPORATED2 years

Filed as: WILSHIRE ADVISORS LLC

Service code 27 · EIN 95-2755361

Advisory (Plan)

ABRAMS FENSTERMAN, LLP 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ABRAMS FENSTERMAN, LLP 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