Retirement plan

MUNLEY LAW, P.C., EMPLOYEES' PROFIT SHARING TRUST

Name: MUNLEY LAW, P.C. - MUNLEY LAW, P.C., EMPLOYEES' PROFIT SHARING TRUST (2023) Form 5500
Creator: MUNLEY LAW, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MUNLEY LAW, P.C., EMPLOYEES' PROFIT SHARING TRUST, MUNLEY LAW, P.C.

MUNLEY LAW, P.C.EIN 23-2118024Plan #002PY 2023

227 PENN AVENUE, THE FORUM PLAZA - SCRANTON, PA 18503800-346-7401munley.comLinkedIn11-50 employeeslaw practice

Prospect flagsLow returnsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$12.7M

+14.8% from 2022

Total participants

-8.2% from 2022

Average account balance

$281,145

+25.0% from 2022

Annual return

12.09%

+26.36 pp from 2022

Benchmarks

See 28,714 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,714 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$13.79M

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.

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.

133.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$600K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

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

+7.20%

Not enough data

1 years with return on file

Admin fee / account holder

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

$10569

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 codes2E2G2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$291K

$8804 / participant

Other / not subdivided$291K100.0%

% of EOY assets

2.296%

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

$281,145

$93,586+200.4%

$135,925+106.8%

$75,173+274.0%

Participation rate

100.0%

75.2%+24.8pp

81.9%+18.1pp

67.2%+32.8pp

Annual return

12.09%

30.90%-18.8pp

68.25%-56.2pp

160.65%-148.6pp

Employer contribution / active EE

$15,152

$3,537+328.3%

$4,857+212.0%

$2,670+467.4%

Participant deferral / active EE

$6,405-100.0%

$7,759-100.0%

$4,126-100.0%

Admin fee / account holder

$6,456

$6,977-7.5%

$10,764-40.0%

$5,651+14.2%

MUNLEY LAW, P.C., EMPLOYEES' PROFIT SHARING TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MUNLEY LAW, P.C., EMPLOYEES' PROFIT SHARING 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