Retirement plan

PATENT LAW WORKS LLP 401(K) PROFIT SHARING PLAN AND TRUST

Name: PATENT LAW WORKS LLP - PATENT LAW WORKS LLP 401(K) PROFIT SHARING PLAN AND TRUST (2024) Form 5500
Creator: PATENT LAW WORKS LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PATENT LAW WORKS LLP 401(K) PROFIT SHARING PLAN AND TRUST, PATENT LAW WORKS LLP

PATENT LAW WORKS LLPEIN 27-1436529Plan #001PY 2024

4516 S 700 E STE 290 - SALT LAKE CITY, UT 84107801-258-9822patentlawworks.netLinkedIn11-50 employeeslaw practice

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$5.7M

+16.7% from 2023

Total participants

+8.8% from 2023

Average account balance

$167,467

+16.7% from 2023

Annual return

15.41%

-3.07 pp from 2023

Benchmarks

See 28,860 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,860 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.69M

Not enough data

1 years with asset history on file

Average account balance

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

$167K

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.

117.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$364K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+15.41%

Not enough data

1 years with return on file

Admin fee / account holder

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

$9041

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

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

$307K

$10600 / participant

Other / not subdivided$307K100.0%

% of EOY assets

5.399%

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

$167,467

$102,385+63.6%

$147,080+13.9%

$80,935+106.9%

Participation rate

89.7%

75.9%+13.8pp

82.2%+7.5pp

67.7%+22.0pp

Annual return

15.41%

135.09%-119.7pp

420.17%-404.8pp

35.66%-20.2pp

Employer contribution / active EE

$3,121

$3,717-16.0%

$4,933-36.7%

$2,757+13.2%

Participant deferral / active EE

$9,429

$6,651+41.8%

$8,066+16.9%

$4,299+119.3%

Admin fee / account holder

$9,041

$7,951+13.7%

$12,989-30.4%

$6,924+30.6%

PATENT LAW WORKS LLP 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PATENT LAW WORKS LLP 401(K) PROFIT SHARING PLAN AND 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