Retirement plan

CORRADO & MARTELLA, P.C. 401(K) PROFIT SHARING PLAN

Name: CORRADO & MARTELLA, P.C. - CORRADO & MARTELLA, P.C. 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: CORRADO & MARTELLA, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CORRADO & MARTELLA, P.C. 401(K) PROFIT SHARING PLAN, CORRADO & MARTELLA, P.C.

CORRADO & MARTELLA, P.C.EIN 22-3438601Plan #001PY 2022

921 SUMMIT AVENUE - JERSEY CITY, NJ 073073740201-653-5200corradofirm.comLinkedIn1-10 employeeslaw practice

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$1.6M

-13.3% from 2021

Total participants

+14.3% from 2021

Average account balance

$201,244

-24.2% from 2021

Annual return

-15.62%

-22.79 pp from 2021

Benchmarks

See 133,872 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort133,872 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.28M

Not enough data

1 years with asset history on file

Average account balance

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

$455K

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.

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$76K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+17.44%

Not enough data

1 years with return on file

Admin fee / account holder

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

$25937

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J3D

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

1 tripped

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$259

$52 / participant

Other / not subdivided$259100.0%

% of EOY assets

0.016%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$201,244

$138,102+45.7%

$125,381+60.5%

$134,532+49.6%

Participation rate

100.0%

84.5%+15.5pp

82.4%+17.6pp

81.2%+18.8pp

Annual return

-15.62%

750.73%-766.3pp

572.31%-587.9pp

418.27%-433.9pp

Employer contribution / active EE

$2,630

$5,245-49.9%

$4,815-45.4%

$4,741-44.5%

Participant deferral / active EE

$5,916

$7,801-24.2%

$7,448-20.6%

$6,401-7.6%

Admin fee / account holder

$32

$11,568-99.7%

$10,007-99.7%

$11,429-99.7%

CORRADO & MARTELLA, P.C. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CORRADO & MARTELLA, P.C. 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