Retirement plan

401(A) PROFIT-SHARING PLAN FOR EMPLOYEES OF LEGAL ASSISTANCE OF WESTERN NEW YORK, INC.

Name: LEGAL ASSISTANCE OF WESTERN NEW YORK, INC. - 401(A) PROFIT-SHARING PLAN FOR EMPLOYEES OF LEGAL ASSISTANCE OF WESTERN NEW YORK, INC. (2023) Form 5500
Creator: LEGAL ASSISTANCE OF WESTERN NEW YORK, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 401(A) PROFIT-SHARING PLAN FOR EMPLOYEES OF LEGAL ASSISTANCE OF WESTERN NEW YORK, INC., LEGAL ASSISTANCE OF WESTERN NEW YORK, INC.

LEGAL ASSISTANCE OF WESTERN NEW YORK, INC.EIN 16-0955954Plan #002PY 2023

361 S MAIN ST - GENEVA, NY 14456585-325-2520lawny.orgLinkedIn51-200 employeeslegal services

Other plans on this EIN

1 filing

#003Retirement-$11.0M assets

Prospect flagsLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$2.1M

+11.8% from 2022

Total participants

190

+23.4% from 2022

Average account balance

$11,693

-4.9% from 2022

Annual return

15.25%

+29.41 pp from 2022

Benchmarks

See 5,708 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,708 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.48M

Not enough data

1 years with asset history on file

Average account balance

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

$13K

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.

192

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.

98.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$190K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+14.74%

Not enough data

1 years with return on file

Admin fee / account holder

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

$10

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 1 by compensation

Provider	Service type	Compensation
MUTUAL OF AMERICA INVESTMENT CORP3 years Service code 12 320 PARK AVENUE · NEW YORK, NY 10022	Recordkeeping and information managem...	$585

Plan features & details

Pension benefit codes2G2E2J2T

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.
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.

Opportunity flags

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$585

$4 / participant

Other / not subdivided$585100.0%

% of EOY assets

0.028%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BONADIO & CO., LLP
Auditor EIN: 161131146
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$11,693

$61,356-80.9%

$149,696-92.2%

$71,511-83.6%

Participation rate

93.4%

62.5%+30.9pp

78.8%+14.7pp

67.9%+25.5pp

Annual return

15.25%

35.86%-20.6pp

134.46%-119.2pp

28.86%-13.6pp

Employer contribution / active EE

$1,130

$2,382-52.6%

$4,821-76.6%

$2,589-56.4%

Participant deferral / active EE

$2,920-100.0%

$5,682-100.0%

$4,291-100.0%

Admin fee / account holder

$1,263-99.7%

$13,212-100.0%

$1,588-99.8%

Provider

Service type

Compensation

MUTUAL OF AMERICA INVESTMENT CORP3 years

Service code 12

320 PARK AVENUE · NEW YORK, NY 10022

Recordkeeping and information managem...

$585

401(A) PROFIT-SHARING PLAN FOR EMPLOYEES OF LEGAL ASSISTANCE OF WESTERN NEW YORK, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

401(A) PROFIT-SHARING PLAN FOR EMPLOYEES OF LEGAL ASSISTANCE OF WESTERN NEW YORK, INC.

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