Retirement plan

WEISSMAN & MINTZ, LLC

Name: WEISSMAN & MINTZ, LLC - WEISSMAN & MINTZ, LLC (2024) Form 5500
Creator: WEISSMAN & MINTZ, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WEISSMAN & MINTZ, LLC, WEISSMAN & MINTZ, LLC

WEISSMAN & MINTZ, LLCEIN 13-3717876Plan #001PY 2024

220 DAVIDSON AVE STE 410 - SOMERSET, NJ 08873732-563-4565weissmanmintz.comLinkedIn11-50 employeeslaw practice

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$3.7M

+10.3% from 2023

Total participants

-8.3% from 2023

Average account balance

$173,815

+15.6% from 2023

Annual return

10.10%

-1.01 pp from 2023

Benchmarks

See 143,415 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort143,415 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.65M

Not enough data

1 years with asset history on file

Average account balance

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

$174K

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.

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.

131.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$201K

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

+10.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$9331

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2F2G2T3D2E2J2R3B

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$196K

$12247 / participant

Other / not subdivided$196K100.0%

% of EOY assets

5.368%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$173,815

$160,070+8.6%

$147,117+18.1%

$145,897+19.1%

Participation rate

93.8%

84.0%+9.7pp

82.2%+11.6pp

80.3%+13.4pp

Annual return

10.10%

98.69%-88.6pp

420.54%-410.4pp

552.29%-542.2pp

Employer contribution / active EE

$1,451

$5,285-72.5%

$4,932-70.6%

$4,663-68.9%

Participant deferral / active EE

$11,082

$8,419+31.6%

$8,065+37.4%

$6,689+65.7%

Admin fee / account holder

$9,331

$15,035-37.9%

$12,993-28.2%

$13,390-30.3%

WEISSMAN & MINTZ, LLC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WEISSMAN & MINTZ, LLC

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