Retirement plan

THE SAM BERNSTEIN LAW FIRM PLL 401(K) PROFIT SHARING PLAN & TRUST

Name: THE SAM BERNSTEIN LAW FIRM PLLC - THE SAM BERNSTEIN LAW FIRM PLL 401(K) PROFIT SHARING PLAN & TRUST (2024) Form 5500
Creator: THE SAM BERNSTEIN LAW FIRM PLLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE SAM BERNSTEIN LAW FIRM PLL 401(K) PROFIT SHARING PLAN & TRUST, THE SAM BERNSTEIN LAW FIRM PLLC

THE SAM BERNSTEIN LAW FIRM PLLCEIN 27-1466737Plan #001PY 2024

31440 NORTHWESTERN HWY STE 333 - FARMINGTON HILLS, MI 483342072248-737-8400callsam.comLinkedIn51-200 employeeslegal services

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$19.5M

+26.8% from 2023

Total participants

164

+13.1% from 2023

Average account balance

$122,391

+11.7% from 2023

Annual return

18.04%

+2.40 pp from 2023

Benchmarks

See 6,285 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,285 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$19.46M

Not enough data

1 years with asset history on file

Average account balance

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

$122K

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.

159

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.

96.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.57M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+18.04%

Not enough data

1 years with return on file

Admin fee / account holder

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

$360

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 2 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH10+ years Filed as: MERRILL LYNCH, PIERCE, FENNER Service code 27 · EIN 13-5674085 4 WORLD FINANCIAL CENTER · NEW YORK, NY 10281	Advisory (Plan)	$37,026
PAYCHEX, INC.10+ years Service code 15 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625	Recordkeeping	$20,275

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

$57K

$387 / participant

Investment mgmt$38K65.6%
Contract admin$20K34.4%

% of EOY assets

0.295%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$122,391

$101,591+20.5%

$147,096-16.8%

$74,429+64.4%

Participation rate

96.6%

75.5%+21.1pp

82.2%+14.4pp

67.2%+29.4pp

Annual return

18.04%

8746.45%-8728.4pp

419.75%-401.7pp

1368.38%-1350.3pp

Employer contribution / active EE

$3,694

$3,813-3.1%

$4,936-25.2%

$2,625+40.7%

Participant deferral / active EE

$6,885

$7,302-5.7%

$8,071-14.7%

$4,348+58.3%

Admin fee / account holder

$360

$1,750-79.4%

$13,005-97.2%

$1,944-81.5%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH10+ years

Filed as: MERRILL LYNCH, PIERCE, FENNER

Service code 27 · EIN 13-5674085

4 WORLD FINANCIAL CENTER · NEW YORK, NY 10281

Advisory (Plan)

$37,026

PAYCHEX, INC.10+ years

Service code 15 · EIN 16-1124166

911 PANORAMA TRAIL S · ROCHESTER, NY 14625

Recordkeeping

$20,275

THE SAM BERNSTEIN LAW FIRM PLL 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE SAM BERNSTEIN LAW FIRM PLL 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