Retirement plan

OPTIMA MANAGEMENT GROUP LLC 401(K) PROFIT SHARING PLAN & TRUST

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

OPTIMA MANAGEMENT GROUP LLCEIN 26-2254956Plan #001PY 2024

1375 E 9TH ST STE 160 - CLEVELAND, OH 441141739216-781-8980

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$724K

+43.1% from 2023

Total participants

+33.3% from 2023

Average account balance

$103,460

-18.2% from 2023

Annual return

32.73%

+3.62 pp from 2023

Benchmarks

See 20,063 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants<25

Cohort20,063 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$724K

Not enough data

1 years with asset history on file

Average account balance

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

$103K

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.

175.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$60K

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

+32.73%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1160

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

2 tripped

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

$8K

$2030 / participant

Other / not subdivided$8K100.0%

% of EOY assets

1.121%

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

$103,460

$211,288-51.0%

$178,540-42.1%

$145,884-29.1%

Participation rate

75.0%

80.8%-5.8pp

77.1%-2.1pp

80.3%-5.3pp

Annual return

32.73%

30.27%+2.5pp

27.15%+5.6pp

551.85%-519.1pp

Employer contribution / active EE

$4,796

$4,574+4.8%

$3,953+21.3%

$4,662+2.9%

Participant deferral / active EE

$10,259

$6,967+47.3%

$6,281+63.4%

$6,690+53.4%

Admin fee / account holder

$1,160

$12,105-90.4%

$10,424-88.9%

$13,392-91.3%

OPTIMA MANAGEMENT GROUP LLC 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OPTIMA MANAGEMENT GROUP LLC 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