Retirement plan

GENOVA BURNS LLC 401(K)/PROFIT SHARING PLAN

Name: GENOVA BURNS LLC - GENOVA BURNS LLC 401(K)/PROFIT SHARING PLAN (2019) Form 5500
Creator: GENOVA BURNS LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GENOVA BURNS LLC 401(K)/PROFIT SHARING PLAN, GENOVA BURNS LLC

GENOVA BURNS LLCEIN 22-2940404Plan #001PY 2019

494 BROAD STREET - NEWARK, NJ 07102973-533-0777genovaburns.comLinkedIn51-200 employeeslaw practice

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$13.8M

+28.7% from 2018

Total participants

137

+1.5% from 2018

Average account balance

$120,424

+25.4% from 2018

Annual return

26.90%

+32.62 pp from 2018

Benchmarks

See 5,552 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,552 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.78M

Not enough data

1 years with asset history on file

Average account balance

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

$156K

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.

101

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.

59.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$890K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+13.32%

Not enough data

1 years with return on file

Admin fee / account holder

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

$417

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 6 by compensation

Provider	Service type	Compensation
PURSHE KAPLAN STERLING INV1 year Filed as: PURSHE KAPLAN STERLING INVESTMENTS Service code 27 · EIN 13-3749682	Advisory (Plan)	$23,394
NATIONWIDE1 year Filed as: NATIONWIDE LIFE INSURANCE CO Service code 26 · EIN 31-4156830	Advisory (Participants)	$16,314
FIDELITY INVESTMENTS INSTITUTIONAL1 year Filed as: FIDELITY INVESTMENTS Service code 37 · EIN 04-2647786	Loan Processing	$1,500
FIDELITY INVESTMENTS INSTITUTIONAL5+ years Service code 60	Sub-TA Fees	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.1 year Filed as: MML INSURANCE AGENCY, LLC Service code 22 · EIN 04-1590850	Insurance Broker	$0
PLANNED FINANCIAL PROGRAMS1 year Filed as: PLANNED FINANCIAL PROGRAMS CO Service code 10 · EIN 22-1914735	Accounting	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3B3D

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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$43K

$412 / participant

Contract admin$43K98.7%
Other / not subdivided$5701.3%

% of EOY assets

0.312%

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: BRUNO DIBELLO & CO., L.L.C.
Auditor EIN: 222414251
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$120,424

$89,652+34.3%

$141,197-14.7%

$65,186+84.7%

Participation rate

79.0%

74.7%+4.3pp

82.5%-3.4pp

70.2%+8.8pp

Annual return

26.90%

32.79%-5.9pp

71.41%-44.5pp

29.39%-2.5pp

Employer contribution / active EE

$974

$3,065-68.2%

$4,736-79.4%

$2,177-55.2%

Participant deferral / active EE

$7,997

$5,691+40.5%

$6,710+19.2%

$3,514+127.6%

Admin fee / account holder

$376

$569-33.8%

$10,265-96.3%

$847-55.6%

Provider

Service type

Compensation

PURSHE KAPLAN STERLING INV1 year

Filed as: PURSHE KAPLAN STERLING INVESTMENTS

Service code 27 · EIN 13-3749682

Advisory (Plan)

$23,394

NATIONWIDE1 year

Filed as: NATIONWIDE LIFE INSURANCE CO

Service code 26 · EIN 31-4156830

Advisory (Participants)

$16,314

FIDELITY INVESTMENTS INSTITUTIONAL1 year

Filed as: FIDELITY INVESTMENTS

Service code 37 · EIN 04-2647786

Loan Processing

$1,500

FIDELITY INVESTMENTS INSTITUTIONAL5+ years

Service code 60

Sub-TA Fees

MASSACHUSETTS MUTUAL LIFE INS. CO.1 year

Filed as: MML INSURANCE AGENCY, LLC

Service code 22 · EIN 04-1590850

Insurance Broker

PLANNED FINANCIAL PROGRAMS1 year

Filed as: PLANNED FINANCIAL PROGRAMS CO

Service code 10 · EIN 22-1914735

Accounting

GENOVA BURNS LLC 401(K)/PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GENOVA BURNS LLC 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