Retirement plan

RELIANCE FIRST CAPITAL, LLC EMPLOYEES SAVINGS TRUST

Name: RELIANCE FIRST CAPITAL, LLC - RELIANCE FIRST CAPITAL, LLC EMPLOYEES SAVINGS TRUST (2024) Form 5500
Creator: RELIANCE FIRST CAPITAL, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RELIANCE FIRST CAPITAL, LLC EMPLOYEES SAVINGS TRUST, RELIANCE FIRST CAPITAL, LLC

RELIANCE FIRST CAPITAL, LLCEIN 26-2261031Plan #001PY 2024

201 OLD COUNTRY ROADSUITE 205 - MELVILLE, NY 11747516-422-8888reliancefirst.comLinkedIn201-500 employeesfinancial services

Prospect flagsHigh feesLow participationLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$27.3M

+15.3% from 2023

Total participants

291

-3.0% from 2023

Average account balance

$137,845

+20.5% from 2023

Annual return

15.39%

-3.49 pp from 2023

Benchmarks

See 1,547 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,547 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$27.29M

Not enough data

1 years with asset history on file

Average account balance

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

$138K

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.

198

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.

64.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.54M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+15.39%

Not enough data

1 years with return on file

Admin fee / account holder

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

$674

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 6 by compensation

Provider	Service type	Compensation
RAYMOND JAMES FINANCIAL SERVICES6 years Filed as: RAYMOND JAMES & ASSOCIATES INC Service code 27 880 CARILLON PKWY · ST PETERSBURG, FL 33716	Advisory (Plan)	$57,213
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER LIFE & ANNUITY INSURANCE CO Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$40,595
RICHEY MAY & CO LLP1 year Service code 10 9605 S KINGSTON CT STE 200 · ENGLEWOOD, CO 80112	Accounting	$10,600
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$10,026
ERISA FIDUCIARY SERVICES, INC.6 years Filed as: ERISA FIDUCIARY SERVICES INC Service code 13 1800 WALT WHITMAN RD STE 110 · MELVILLE, NY 11747	Contract Administrator	$10,000
RSM US LLP2 years Filed as: MCGLADREY LLP Service code 10 5155 PAYSPHERE CIRCLE · CHICAGO, IL 60674	Accounting	$5,000

Plan features & details

Pension benefit codes2E2F2G2J2K2T3B3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$133K

$509 / participant

Recordkeeping$41K30.4%
Investment mgmt$67K50.4%
Contract admin$10K7.5%
Other / not subdivided$16K11.7%

% of EOY assets

0.489%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: RICHEY MAY & CO. LLP
Auditor EIN: 710911208
Audit fees: $15,600
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$137,845

$129,227+6.7%

$184,260-25.2%

$77,736+77.3%

Participation rate

64.5%

87.4%-22.8pp

86.8%-22.3pp

70.6%-6.1pp

Annual return

15.39%

33.24%-17.9pp

28.84%-13.5pp

31.26%-15.9pp

Employer contribution / active EE

$4,412-100.0%

$6,427-100.0%

$2,728-100.0%

Participant deferral / active EE

$5,873

$7,307-19.6%

$9,133-35.7%

$4,651+26.3%

Admin fee / account holder

$674

$256+163.5%

$13,898-95.2%

$433+55.5%

Provider

Service type

Compensation

RAYMOND JAMES FINANCIAL SERVICES6 years

Filed as: RAYMOND JAMES & ASSOCIATES INC

Service code 27

880 CARILLON PKWY · ST PETERSBURG, FL 33716

Advisory (Plan)

$57,213

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER LIFE & ANNUITY INSURANCE CO

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$40,595

RICHEY MAY & CO LLP1 year

Service code 10

9605 S KINGSTON CT STE 200 · ENGLEWOOD, CO 80112

Accounting

$10,600

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$10,026

ERISA FIDUCIARY SERVICES, INC.6 years

Filed as: ERISA FIDUCIARY SERVICES INC

Service code 13

1800 WALT WHITMAN RD STE 110 · MELVILLE, NY 11747

Contract Administrator

$10,000

RSM US LLP2 years

Filed as: MCGLADREY LLP

Service code 10

5155 PAYSPHERE CIRCLE · CHICAGO, IL 60674

Accounting

$5,000

RELIANCE FIRST CAPITAL, LLC EMPLOYEES SAVINGS TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RELIANCE FIRST CAPITAL, LLC EMPLOYEES SAVINGS 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