Retirement plan

MARTIN K SPENCE 401(K) PROFIT SHARING PLAN & TRUST

Name: MARTIN K SPENCE - MARTIN K SPENCE 401(K) PROFIT SHARING PLAN & TRUST (2024) Form 5500
Creator: MARTIN K SPENCE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MARTIN K SPENCE 401(K) PROFIT SHARING PLAN & TRUST, MARTIN K SPENCE

MARTIN K SPENCEEIN 22-3599181Plan #003PY 2024

86 E ALLENDALE RD - SADDLE RIVER, NJ 074583040201-934-0300

Other plans on this EIN

1 filing

#001Retirement-$1.7M assets

Prospect flagsLow returnsHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$1.6M

+19.3% from 2023

Total participants

+33.3% from 2023

Average account balance

$391,518

-10.5% from 2023

Annual return

9.39%

-0.50 pp from 2023

Benchmarks

See 143,921 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort143,921 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.84M

Not enough data

1 years with asset history on file

Average account balance

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

$461K

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

$139K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$35K

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

+8.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$30

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 codes2E2F2G2J2T3D

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.
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

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$120

$30 / participant

Other / not subdivided$120100.0%

% of EOY assets

0.008%

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

$391,518

$159,978+144.7%

$147,041+166.3%

$145,978+168.2%

Participation rate

100.0%

84.0%+16.0pp

82.2%+17.8pp

80.3%+19.7pp

Annual return

9.39%

98.36%-89.0pp

419.21%-409.8pp

550.52%-541.1pp

Employer contribution / active EE

$15,917

$5,288+201.0%

$4,935+222.5%

$4,662+241.4%

Participant deferral / active EE

$16,721

$8,429+98.4%

$8,071+107.2%

$6,690+149.9%

Admin fee / account holder

$30

$15,053-99.8%

$13,006-99.8%

$13,400-99.8%

MARTIN K SPENCE 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MARTIN K SPENCE 401(K) PROFIT SHARING PLAN & TRUST

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