Retirement plan

SOLOMON REALTY ADVISORS, INC.401 (K) PROFIT SHARING PLAN

Name: SOLOMON REALTY ADVISORS, INC. - SOLOMON REALTY ADVISORS, INC.401 (K) PROFIT SHARING PLAN (2023) Form 5500
Creator: SOLOMON REALTY ADVISORS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOLOMON REALTY ADVISORS, INC.401 (K) PROFIT SHARING PLAN, SOLOMON REALTY ADVISORS, INC.

SOLOMON REALTY ADVISORS, INC.EIN 22-2867476Plan #001PY 2023

92 RIVER RD - SUMMIT, NJ 07901908-988-1050LinkedIn501-1000 employeesreal estate

Prospect flagsLow assets / participantFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$12M

+37.0% from 2022

Total participants

741

+3.8% from 2022

Average account balance

$17,301

+31.4% from 2022

Annual return

18.96%

+31.94 pp from 2022

Benchmarks

See 657 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants250-999

Cohort657 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.47M

Not enough data

1 years with asset history on file

Average account balance

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

$22K

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.

691

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.

92.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.60M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+14.55%

Not enough data

1 years with return on file

Admin fee / account holder

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

$237

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
PRINCIPAL LIFE INSURANCE COMPANY5 years Service code 13 · EIN 42-0127290	Contract Administrator	$104,977
ORENDA RETIREMENT, LLC5 years Service code 13 · EIN 36-4877979	Contract Administrator	$29,261
NORTHWESTERN MUTUAL INVESTMENT SERV4 years Service code 49 · EIN 52-2114207	Other Services	$23,574
WILSHIRE ASSOCIATES INCORPORATED2 years Filed as: WILSHIRE ADVISORY LLC Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2J2K2F2G3D3H2T2S

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$126K

$208 / participant

Recordkeeping$21K16.5%
Contract admin$105K83.5%

% of EOY assets

1.047%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: LILLING & COMPANY LLP
Auditor EIN: 133447681
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$17,301

$56,638-69.5%

$169,390-89.8%

$74,460-76.8%

Participation rate

92.2%

67.5%+24.7pp

77.2%+15.0pp

70.7%+21.5pp

Annual return

18.96%

24.75%-5.8pp

406.07%-387.1pp

34.38%-15.4pp

Employer contribution / active EE

$874

$2,027-56.9%

$4,013-78.2%

$2,638-66.9%

Participant deferral / active EE

$2,767

$4,223-34.5%

$6,222-55.5%

$4,530-38.9%

Admin fee / account holder

$181

$307-40.9%

$9,015-98.0%

$348-47.9%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY5 years

Service code 13 · EIN 42-0127290

Contract Administrator

$104,977

ORENDA RETIREMENT, LLC5 years

Service code 13 · EIN 36-4877979

Contract Administrator

$29,261

NORTHWESTERN MUTUAL INVESTMENT SERV4 years

Service code 49 · EIN 52-2114207

Other Services

$23,574

WILSHIRE ASSOCIATES INCORPORATED2 years

Filed as: WILSHIRE ADVISORY LLC

Service code 27 · EIN 95-2755361

Advisory (Plan)

SOLOMON REALTY ADVISORS, INC.401 (K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOLOMON REALTY ADVISORS, INC.401 (K) 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