Retirement plan

PATEL CONSULTANTS 401(K) PLAN

Name: PATEL CONSULTANTS CORPORATION - PATEL CONSULTANTS 401(K) PLAN (2017) Form 5500
Creator: PATEL CONSULTANTS CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PATEL CONSULTANTS 401(K) PLAN, PATEL CONSULTANTS CORPORATION

PATEL CONSULTANTS CORPORATIONEIN 22-2120360Plan #001PY 2017

1525 MORRIS AVENUE - UNION, NJ 07083908-964-7575patelcorp.comLinkedIn51-200 employeesstaffing and recruiting

Prospect flagsLow employer contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$6.1M

+23.3% from 2016

Total participants

192

+1.6% from 2016

Average account balance

$36,341

+9.5% from 2016

Annual return

25.31%

+20.06 pp from 2016

Benchmarks

See 5,160 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,160 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.39M

Not enough data

1 years with asset history on file

Average account balance

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

$80K

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.

105

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.

71.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$531K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+14.62%

Not enough data

1 years with return on file

Admin fee / account holder

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

$191

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 4 by compensation

Provider	Service type	Compensation
AMERIPRISE FINANCIAL SERVICES INC3+ years Service code 55 70100 AMERIPRISE FINANCIAL CENTER · MINNEAPOLIS, MN 55474	Other Commissions	$12,769
ASSOCIATED PENSION CONSULTANTS3+ years Filed as: ASSOCIATED PENSION CONSULTANTS, INC Service code 13 · EIN 11-3271022 111 EXPRESS STREET · PLAINVIEW, NY 11803	Contract Administrator	$6,381
GREAT-WEST LIFE & ANNUITY INSURANCE3+ years Filed as: GREAT WEST LIFE & ANNUITY CO Service code 64 · EIN 84-0467907 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$850
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER RETIREMENT ADVISORY SERVICE Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$700

Plan features & details

Pension benefit codes2E2J2F2G3D

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.
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

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$2K

$21 / participant

Contract admin$2K100.0%

% of EOY assets

0.034%

all-in expense ratio

Categories reported

1 / 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: WITHUM SMITH AND BROWN, PC
Auditor EIN: 222027092
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$36,341

$80,753-55.0%

$136,298-73.3%

$62,293-41.7%

Participation rate

77.5%

73.5%+3.9pp

81.9%-4.5pp

69.5%+7.9pp

Annual return

25.31%

35.83%-10.5pp

5156.27%-5131.0pp

28.90%-3.6pp

Employer contribution / active EE

$2,884-100.0%

$4,696-100.0%

$2,042-100.0%

Participant deferral / active EE

$5,183

$5,164+0.4%

$6,247-17.0%

$3,169+63.6%

Admin fee / account holder

$12

$525-97.6%

$9,244-99.9%

$479-97.4%

Provider

Service type

Compensation

AMERIPRISE FINANCIAL SERVICES INC3+ years

Service code 55

70100 AMERIPRISE FINANCIAL CENTER · MINNEAPOLIS, MN 55474

Other Commissions

$12,769

ASSOCIATED PENSION CONSULTANTS3+ years

Filed as: ASSOCIATED PENSION CONSULTANTS, INC

Service code 13 · EIN 11-3271022

111 EXPRESS STREET · PLAINVIEW, NY 11803

Contract Administrator

$6,381

GREAT-WEST LIFE & ANNUITY INSURANCE3+ years

Filed as: GREAT WEST LIFE & ANNUITY CO

Service code 64 · EIN 84-0467907

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$850

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER RETIREMENT ADVISORY SERVICE

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$700

PATEL CONSULTANTS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PATEL CONSULTANTS 401(K) 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