Retirement plan

MOLOLAMKEN, LLP 401(K) PLAN

Name: MOLOLAMKEN, LLP - MOLOLAMKEN, LLP 401(K) PLAN (2022) Form 5500
Creator: MOLOLAMKEN, LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MOLOLAMKEN, LLP 401(K) PLAN, MOLOLAMKEN, LLP

MOLOLAMKEN, LLPEIN 27-0739069Plan #001PY 2022

430 PARK AVENUE, FLOOR 6 - NEW YORK, NY 100223523212-607-8160mololamken.comLinkedIn51-200 employeeslaw practice

Other plans on this EIN

1 filing

#002Retirement--

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$10.7M

-13.6% from 2021

Total participants

-36.9% from 2021

Average account balance

$113,348

+36.9% from 2021

Annual return

-17.37%

-38.46 pp from 2021

Benchmarks

See 28,005 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,005 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.46M

Not enough data

1 years with asset history on file

Average account balance

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

$160K

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.

109

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.

160.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.30M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$34K

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

+16.56%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8181

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

Top 3 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH1 year Filed as: MERRILL LYNCH, PIERCE, FENNER & SMI Service code 27 150 N COLLEGE ST · CHARLOTTE, NC 28255	Advisory (Plan)	$32,318
LINCOLN NATIONAL CORPORATION1 year Service code 13 · EIN 35-1140070	Contract Administrator	$23,900
ASCENSUS LLC2 years Filed as: FUTUREPLAN Service code 15 · EIN 25-1759623	Recordkeeping	$9,303

Plan features & details

Pension benefit codes2A2E2F2G2J3B3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$66K

$1285 / participant

Investment mgmt$66K100.0%

% of EOY assets

0.615%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SMOLIN, LUPIN & CO., LLC
Auditor EIN: 222258733
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$113,348

$82,674+37.1%

$125,363-9.6%

$68,495+65.5%

Participation rate

100.0%

75.0%+25.0pp

82.4%+17.6pp

67.9%+32.1pp

Annual return

-17.37%

-5.97%-11.4pp

572.15%-589.5pp

-7.84%-9.5pp

Employer contribution / active EE

$9,152

$3,382+170.6%

$4,815+90.1%

$2,596+252.5%

Participant deferral / active EE

$15,513

$6,111+153.9%

$7,447+108.3%

$4,028+285.2%

Admin fee / account holder

$697

$6,276-88.9%

$10,005-93.0%

$5,403-87.1%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH1 year

Filed as: MERRILL LYNCH, PIERCE, FENNER & SMI

Service code 27

150 N COLLEGE ST · CHARLOTTE, NC 28255

Advisory (Plan)

$32,318

LINCOLN NATIONAL CORPORATION1 year

Service code 13 · EIN 35-1140070

Contract Administrator

$23,900

ASCENSUS LLC2 years

Filed as: FUTUREPLAN

Service code 15 · EIN 25-1759623

Recordkeeping

$9,303

MOLOLAMKEN, LLP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MOLOLAMKEN, LLP 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