Retirement plan

NOW LEGAL DEFENSE AND EDUCATION FUND PROFIT SHARING PLAN

Name: LEGAL MOMENTUM, INC. - NOW LEGAL DEFENSE AND EDUCATION FUND PROFIT SHARING PLAN (2022) Form 5500
Creator: LEGAL MOMENTUM, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NOW LEGAL DEFENSE AND EDUCATION FUND PROFIT SHARING PLAN, LEGAL MOMENTUM, INC.

LEGAL MOMENTUM, INC.EIN 23-7085442Plan #001PY 2022

32 BROADWAY, SUITE 1801 - NEW YORK, NY 10004212-925-6635legalmomentum.orgLinkedIn11-50 employeesnon-profit organization management

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.5M

-27.7% from 2021

Total participants

-16.0% from 2021

Average account balance

$37,796

-14.7% from 2021

Annual return

-16.91%

-30.30 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

$2.12M

Not enough data

1 years with asset history on file

Average account balance

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

$48K

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.

366.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$130K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+14.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1888

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 codes2E2J2F2G3D

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

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

$326K

$29664 / participant

Other / not subdivided$326K100.0%

% of EOY assets

22.136%

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

$37,796

$138,102-72.6%

$125,381-69.9%

$134,532-71.9%

Participation rate

72.7%

84.5%-11.8pp

82.4%-9.7pp

81.2%-8.5pp

Annual return

-16.91%

750.73%-767.6pp

572.31%-589.2pp

418.27%-435.2pp

Employer contribution / active EE

$3,436

$5,245-34.5%

$4,815-28.6%

$4,741-27.5%

Participant deferral / active EE

$5,928

$7,801-24.0%

$7,448-20.4%

$6,401-7.4%

Admin fee / account holder

$8,367

$11,568-27.7%

$10,007-16.4%

$11,429-26.8%

NOW LEGAL DEFENSE AND EDUCATION FUND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NOW LEGAL DEFENSE AND EDUCATION FUND 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