Retirement plan

ABRAMS, FENSTERMAN, FENSTERMAN, EISMAN, FORMATO, FERRARA, WOLF & CARONE, LLP 401(K) RETIREMENT PLAN

Name: ABRAMS, FENSTERMAN, FENSTERMAN, EISMAN, FORMATO, FERRARA, WOLF & CARON - ABRAMS, FENSTERMAN, FENSTERMAN, EISMAN, FORMATO, FERRARA, WOLF & CARONE, LLP 401(K) RETIREMENT PLAN (2020) Form 5500
Creator: ABRAMS, FENSTERMAN, FENSTERMAN, EISMAN, FORMATO, FERRARA, WOLF & CARON
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ABRAMS, FENSTERMAN, FENSTERMAN, EISMAN, FORMATO, FERRARA, WOLF & CARONE, LLP 401(K) RETIREMENT PLAN, ABRAMS, FENSTERMAN, FENSTERMAN, EISMAN, FORMATO, FERRARA, WOLF & CARON

ABRAMS, FENSTERMAN, FENSTERMAN, EISMAN, FORMATO, FERRARA, WOLF & CARONEIN 11-3522661Plan #001PY 2020

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)

$19M

+9.6% from 2019

Total participants

179

+2.9% from 2019

Average account balance

$138,389

+8.0% from 2019

Annual return

11.27%

-9.49 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

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 KRANTZ2 years Service code 27 · EIN 11-5387962	Advisory (Plan)	$60,371
PRINCIPAL LIFE INSURANCE COMPANY3 years Service code 13 · EIN 42-0127290	Contract Administrator	$33,114
UNITED BENEFIT PENSIONS INC.2 years Service code 13 · EIN 36-4517541	Contract Administrator	$750
UNITED BENEFIT PENSIONS INC.2 years Filed as: UNITED BENEFIT PENSIONS INC Service code 13	Contract Administrator	$0
WILSHIRE ASSOCIATES INCORPORATED2 years Filed as: WILSHIRE ASSOCIATES INCOPORATED Service code 27	Advisory (Plan)	$0
WILSHIRE ASSOCIATES INCORPORATED3 years Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2G2J2K2T3D

Plan features

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.
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

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

$113K

$752 / participant

Investment mgmt$60K53.5%
Contract admin$52K46.5%

% of EOY assets

0.595%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: POVAL AND FELDMAN, CPA, PC
Auditor EIN: 810777739
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$138,389

$99,957+38.4%

$149,715-7.6%

$73,493+88.3%

Participation rate

72.0%

75.7%-3.7pp

82.5%-10.5pp

70.7%+1.3pp

Annual return

11.27%

53.87%-42.6pp

276.66%-265.4pp

28.51%-17.2pp

Employer contribution / active EE

$2,285

$3,191-28.4%

$4,645-50.8%

$2,270+0.7%

Participant deferral / active EE

$7,167

$6,073+18.0%

$6,842+4.8%

$3,740+91.7%

Admin fee / account holder

$824

$551+49.6%

$9,310-91.2%

$513+60.5%

Provider

Service type

Compensation

JEROME KRANTZ2 years

Service code 27 · EIN 11-5387962

Advisory (Plan)

$60,371

PRINCIPAL LIFE INSURANCE COMPANY3 years

Service code 13 · EIN 42-0127290

Contract Administrator

$33,114

UNITED BENEFIT PENSIONS INC.2 years

Service code 13 · EIN 36-4517541

Contract Administrator

$750

UNITED BENEFIT PENSIONS INC.2 years

Filed as: UNITED BENEFIT PENSIONS INC

Service code 13

Contract Administrator

WILSHIRE ASSOCIATES INCORPORATED2 years

Filed as: WILSHIRE ASSOCIATES INCOPORATED

Service code 27

Advisory (Plan)

WILSHIRE ASSOCIATES INCORPORATED3 years

Service code 27 · EIN 95-2755361

Advisory (Plan)

ABRAMS, FENSTERMAN, FENSTERMAN, EISMAN, FORMATO, FERRARA, WOLF & CARONE, LLP 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ABRAMS, FENSTERMAN, FENSTERMAN, EISMAN, FORMATO, FERRARA, WOLF & CARONE, 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