Retirement plan

FIRST REALTY MANAGEMENT CO. , INC. 401(K) PLAN

Name: FIRST REALTY MANAGEMENT CO., INC. - FIRST REALTY MANAGEMENT CO. , INC. 401(K) PLAN (2024) Form 5500
Creator: FIRST REALTY MANAGEMENT CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST REALTY MANAGEMENT CO. , INC. 401(K) PLAN, FIRST REALTY MANAGEMENT CO., INC.

FIRST REALTY MANAGEMENT CO., INC.EIN 26-4328600Plan #001PY 2024

301 EXCHANGE BLVD. #200 - ROCHESTER, NY 14608585-232-1760

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$6.5M

+14.3% from 2023

Total participants

146

-19.3% from 2023

Average account balance

$47,159

+43.3% from 2023

Annual return

12.81%

-7.67 pp from 2023

Benchmarks

See 4,151 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants25-99

Cohort4,151 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.51M

Not enough data

1 years with asset history on file

Average account balance

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

$47K

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.

138

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.

90.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$609K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+12.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

$380

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
ALERUS FINANCIAL, N.A.1 year Service code 15 · EIN 45-6062081	Recordkeeping	$13,898
GLOBAL RETIREMENT PARTNERS LLC3 years Filed as: GLOBAL RETIREMENT PARTNERS Service code 13 · EIN 47-1411118	Contract Administrator	$10,602
SBFR PARTNERS LLP1 year Service code 10 · EIN 47-2554597	Accounting	$9,750
PAYCHEX, INC.5+ years Service code 13 · EIN 16-1124166	Contract Administrator	$8,448
ERISA FIDUCIARY SERVICES, INC.4 years Service code 13 · EIN 47-1637791	Contract Administrator	$8,106
WELLTH ADVISORY SERVICES LLC1 year Filed as: WELLTH ADVISORY SERVICES, LLC Service code 13 · EIN 99-2539506	Contract Administrator	$1,567

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D2R

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

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

$52K

$609 / participant

Recordkeeping$7391.4%
Trustee / custodial$14K26.2%
Investment mgmt$12K23.2%
Contract admin$16K30.5%
Other / not subdivided$10K18.6%

% of EOY assets

0.805%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SBFR PARTNERS LLP
Auditor EIN: 472554597
Audit fees: $9,750
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$47,159

$77,962-39.5%

$178,540-73.6%

$80,935-41.7%

Participation rate

90.7%

65.7%+25.0pp

77.1%+13.6pp

67.7%+23.0pp

Annual return

12.81%

18.10%-5.3pp

27.15%-14.3pp

35.66%-22.8pp

Employer contribution / active EE

$879

$2,280-61.4%

$3,953-77.8%

$2,757-68.1%

Participant deferral / active EE

$6,200

$4,404+40.8%

$6,281-1.3%

$4,299+44.2%

Admin fee / account holder

$380

$7,156-94.7%

$10,424-96.4%

$6,924-94.5%

Provider

Service type

Compensation

ALERUS FINANCIAL, N.A.1 year

Service code 15 · EIN 45-6062081

Recordkeeping

$13,898

GLOBAL RETIREMENT PARTNERS LLC3 years

Filed as: GLOBAL RETIREMENT PARTNERS

Service code 13 · EIN 47-1411118

Contract Administrator

$10,602

SBFR PARTNERS LLP1 year

Service code 10 · EIN 47-2554597

Accounting

$9,750

PAYCHEX, INC.5+ years

Service code 13 · EIN 16-1124166

Contract Administrator

$8,448

ERISA FIDUCIARY SERVICES, INC.4 years

Service code 13 · EIN 47-1637791

Contract Administrator

$8,106

WELLTH ADVISORY SERVICES LLC1 year

Filed as: WELLTH ADVISORY SERVICES, LLC

Service code 13 · EIN 99-2539506

Contract Administrator

$1,567

FIRST REALTY MANAGEMENT CO. , INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST REALTY MANAGEMENT CO. , INC. 401(K) 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