Retirement plan

MORRIS, DOWNING & SHERRED, LLP PROFIT SHARING PLAN

Name: MORRIS, DOWNING & SHERRED, LLP - MORRIS, DOWNING & SHERRED, LLP PROFIT SHARING PLAN (2024) Form 5500
Creator: MORRIS, DOWNING & SHERRED, LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MORRIS, DOWNING & SHERRED, LLP PROFIT SHARING PLAN, MORRIS, DOWNING & SHERRED, LLP

MORRIS, DOWNING & SHERRED, LLPEIN 22-1127770Plan #002PY 2024

1 MAIN ST, PO BOX 67 - NEWTON, NJ 07860973-383-2700morrisdowningsherred.comLinkedIn11-50 employeeslaw practice

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$4.2M

+6.5% from 2023

Total participants

-16.0% from 2023

Average account balance

$201,481

+26.7% from 2023

Annual return

4.94%

-8.93 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

$4.23M

Not enough data

1 years with asset history on file

Average account balance

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

$201K

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.

175.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$214K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

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

+4.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$7333

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

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.
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

$154K

$12833 / participant

Other / not subdivided$154K100.0%

% of EOY assets

3.640%

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

$201,481

$160,070+25.9%

$147,117+37.0%

$145,897+38.1%

Participation rate

100.0%

84.0%+16.0pp

82.2%+17.8pp

80.3%+19.7pp

Annual return

4.94%

98.69%-93.7pp

420.54%-415.6pp

552.29%-547.3pp

Employer contribution / active EE

$4,726

$5,285-10.6%

$4,932-4.2%

$4,663+1.4%

Participant deferral / active EE

$13,077

$8,419+55.3%

$8,065+62.2%

$6,689+95.5%

Admin fee / account holder

$7,333

$15,035-51.2%

$12,993-43.6%

$13,390-45.2%

MORRIS, DOWNING & SHERRED, LLP PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MORRIS, DOWNING & SHERRED, 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