Retirement plan

OSBORN, REED & BURKE, LLP PROFIT SHARING PLAN

Name: OSBORN, REED & BURKE, LLP - OSBORN, REED & BURKE, LLP PROFIT SHARING PLAN (2022) Form 5500
Creator: OSBORN, REED & BURKE, LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OSBORN, REED & BURKE, LLP PROFIT SHARING PLAN, OSBORN, REED & BURKE, LLP

OSBORN, REED & BURKE, LLPEIN 16-0771141Plan #001PY 2022

120 ALLENS CREEK RD STE 150 - ROCHESTER, NY 14618585-454-6480osbornreed.comLinkedIn11-50 employeeslaw practice

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$3.9M

-21.7% from 2021

Total participants

-10.8% from 2021

Average account balance

$128,928

-3.4% from 2021

Annual return

-15.03%

-24.40 pp from 2021

Benchmarks

See 133,872 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort133,872 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.72M

Not enough data

1 years with asset history on file

Average account balance

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

$143K

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.

190.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$166K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+15.42%

Not enough data

1 years with return on file

Admin fee / account holder

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

$11720

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

$557K

$55727 / participant

Other / not subdivided$557K100.0%

% of EOY assets

14.408%

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

$128,928

$138,102-6.6%

$125,381+2.8%

$134,532-4.2%

Participation rate

70.0%

84.5%-14.5pp

82.4%-12.4pp

81.2%-11.2pp

Annual return

-15.03%

750.73%-765.8pp

572.31%-587.3pp

418.27%-433.3pp

Employer contribution / active EE

$5,268

$5,245+0.4%

$4,815+9.4%

$4,741+11.1%

Participant deferral / active EE

$15,942

$7,801+104.4%

$7,448+114.0%

$6,401+149.1%

Admin fee / account holder

$18,576

$11,568+60.6%

$10,007+85.6%

$11,429+62.5%

OSBORN, REED & BURKE, LLP PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OSBORN, REED & BURKE, LLP 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