Retirement plan

MCELROY, DEUTSCH, MULVANEY & CARPENTER, LLP 401(K) PLAN

Name: MCELROY, DEUTSCH, MULVANEY AND CARPENTER, LLP - MCELROY, DEUTSCH, MULVANEY & CARPENTER, LLP 401(K) PLAN (2024) Form 5500
Creator: MCELROY, DEUTSCH, MULVANEY AND CARPENTER, LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MCELROY, DEUTSCH, MULVANEY & CARPENTER, LLP 401(K) PLAN, MCELROY, DEUTSCH, MULVANEY AND CARPENTER, LLP

MCELROY, DEUTSCH, MULVANEY AND CARPENTER, LLPEIN 22-2445165Plan #001PY 2024

1300 MT. KEMBLE AVENUE, PO BOX 2075 - MORRISTOWN, NJ 07962973-993-8100mdmc-law.comLinkedIn201-500 employeeslegal services

Prospect flagsHigh feesHigh assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$121.9M

+5.0% from 2023

Total participants

442

-7.3% from 2023

Average account balance

$313,267

+9.6% from 2023

Annual return

15.47%

-1.64 pp from 2023

Benchmarks

See 3,298 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,298 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$121.86M

Not enough data

1 years with asset history on file

Average account balance

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

$313K

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.

389

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.

79.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.70M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+15.47%

Not enough data

1 years with return on file

Admin fee / account holder

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

$721

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 3 by compensation

Provider	Service type	Compensation
AMERICAN FUNDS7 years Filed as: NEWPORT CAPITAL GROUP LLC Service code 16 12 BROAD STREET · RED BANK, NJ 07701	Consulting	$154,500
T ROWE PRICE RPS INC7 years Service code 15 1307 POINT STREET · BALTIMORE, MD 21231	Recordkeeping	$35,833
CLYNE EAGAN & ASSOCIATES7 years Filed as: CLYNE EAGAN AND ASSOCIATES Service code 10 8 RIDGEDALE AVENUE · CEDAR KNOLLS, NJ 07927	Accounting	$22,299

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
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.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$280K

$1095 / participant

Recordkeeping$36K12.8%
Other / not subdivided$244K87.2%

% of EOY assets

0.230%

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: CLYNE, EAGAN & ASSOCIATES, P.A.
Auditor EIN: 222706394
Audit fees: $22,299
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$313,267

$106,230+194.9%

$147,080+113.0%

$77,736+303.0%

Participation rate

79.3%

78.4%+0.9pp

82.2%-2.9pp

70.6%+8.7pp

Annual return

15.47%

56.91%-41.4pp

420.17%-404.7pp

31.26%-15.8pp

Employer contribution / active EE

$4,072-100.0%

$4,933-100.0%

$2,728-100.0%

Participant deferral / active EE

$10,541

$8,001+31.8%

$8,066+30.7%

$4,651+126.7%

Admin fee / account holder

$721

$338+113.0%

$12,989-94.5%

$433+66.3%

Provider

Service type

Compensation

AMERICAN FUNDS7 years

Filed as: NEWPORT CAPITAL GROUP LLC

Service code 16

12 BROAD STREET · RED BANK, NJ 07701

Consulting

$154,500

T ROWE PRICE RPS INC7 years

Service code 15

1307 POINT STREET · BALTIMORE, MD 21231

Recordkeeping

$35,833

CLYNE EAGAN & ASSOCIATES7 years

Filed as: CLYNE EAGAN AND ASSOCIATES

Service code 10

8 RIDGEDALE AVENUE · CEDAR KNOLLS, NJ 07927

Accounting

$22,299

MCELROY, DEUTSCH, MULVANEY & CARPENTER, LLP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MCELROY, DEUTSCH, MULVANEY & CARPENTER, LLP 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