Retirement plan

PECKAR & ABRAMSON, PC PROFIT SHARING 401(K) PLAN

Name: PECKAR & ABRAMSON, PC - PECKAR & ABRAMSON, PC PROFIT SHARING 401(K) PLAN (2023) Form 5500
Creator: PECKAR & ABRAMSON, PC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PECKAR & ABRAMSON, PC PROFIT SHARING 401(K) PLAN, PECKAR & ABRAMSON, PC

PECKAR & ABRAMSON, PCEIN 22-2195219Plan #002PY 2023

70 GRAND AVENUE - RIVER EDGE, NJ 076611935201-343-3434pecklaw.comLinkedIn201-500 employeeslaw practice

Other plans on this EIN

1 filing

#004Retirement-$3.6M assets

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$46.2M

+8.9% from 2022

Total participants

275

+3.0% from 2022

Average account balance

$172,348

+6.1% from 2022

Annual return

13.06%

+30.51 pp from 2022

Benchmarks

See 6,231 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,231 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$45.87M

Not enough data

1 years with asset history on file

Average account balance

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

$236K

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.

194

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.

87.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.29M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+12.54%

Not enough data

1 years with return on file

Admin fee / account holder

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

$885

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
COMMONWEALTH FINANCIAL NETWORK2 years Filed as: COMMONWEALTH EQUITY SERVICES LLC Service code 27 29 SWAYER ROAD · WALTHAM, MA 02453	Advisory (Plan)	$125,612
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$15,352
ASSOCIATED PENSION CONSULTANTS2 years Service code 13 111 EXPRESS ST · PLAINVIEW, NY 11803	Contract Administrator	$14,416
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$3,501

Plan features & details

Pension benefit codes2A2E2F2G2J

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.

Opportunity flags

2 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.

Expense breakdown

Schedule H Part II

Admin total

$145K

$1073 / participant

Recordkeeping$145K100.0%

% of EOY assets

0.313%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ANCHIN, BLOCK & ANCHIN
Auditor EIN: 130436940
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$172,348

$91,439+88.5%

$135,974+26.8%

$71,511+141.0%

Participation rate

94.8%

75.7%+19.2pp

81.9%+12.9pp

67.9%+26.9pp

Annual return

13.06%

29.90%-16.8pp

68.30%-55.2pp

28.86%-15.8pp

Employer contribution / active EE

$5,558

$3,705+50.0%

$4,859+14.4%

$2,589+114.7%

Participant deferral / active EE

$10,805

$7,093+52.3%

$7,760+39.2%

$4,291+151.8%

Admin fee / account holder

$540

$1,267-57.3%

$10,767-95.0%

$1,588-66.0%

Provider

Service type

Compensation

COMMONWEALTH FINANCIAL NETWORK2 years

Filed as: COMMONWEALTH EQUITY SERVICES LLC

Service code 27

29 SWAYER ROAD · WALTHAM, MA 02453

Advisory (Plan)

$125,612

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$15,352

ASSOCIATED PENSION CONSULTANTS2 years

Service code 13

111 EXPRESS ST · PLAINVIEW, NY 11803

Contract Administrator

$14,416

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$3,501

PECKAR & ABRAMSON, PC PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PECKAR & ABRAMSON, PC PROFIT SHARING 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