Retirement plan

LAW OFFICES OF REGINA SKYER & ASSOCIATES, LLP 401(K) RETIREMENT PLAN

Name: LAW OFFICES OF REGINA SKYER & ASSOCIATES, LLP - LAW OFFICES OF REGINA SKYER & ASSOCIATES, LLP 401(K) RETIREMENT PLAN (2024) Form 5500
Creator: LAW OFFICES OF REGINA SKYER & ASSOCIATES, LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LAW OFFICES OF REGINA SKYER & ASSOCIATES, LLP 401(K) RETIREMENT PLAN, LAW OFFICES OF REGINA SKYER & ASSOCIATES, LLP

LAW OFFICES OF REGINA SKYER & ASSOCIATES, LLPEIN 27-1498222Plan #002PY 2024

142 JORALEMON STREET, SUITE 11C - BROOKLYN, NY 11201212-532-9736skyerlaw.comLinkedIn11-50 employeeslaw practice

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$6.1M

+17.4% from 2023

Total participants

+10.3% from 2023

Average account balance

$195,491

+9.8% from 2023

Annual return

10.37%

-5.02 pp from 2023

Benchmarks

See 28,844 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,844 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.06M

Not enough data

1 years with asset history on file

Average account balance

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

$195K

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.

103.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$694K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$23K

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

+10.37%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12093

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 codes2E2F2G2J2T3B3D

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.
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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$375K

$12496 / participant

Other / not subdivided$375K100.0%

% of EOY assets

6.186%

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

$195,491

$102,422+90.9%

$147,117+32.9%

$80,959+141.5%

Participation rate

96.7%

75.9%+20.8pp

82.2%+14.5pp

67.7%+29.0pp

Annual return

10.37%

135.16%-124.8pp

420.54%-410.2pp

35.67%-25.3pp

Employer contribution / active EE

$10,240

$3,717+175.5%

$4,932+107.6%

$2,757+271.4%

Participant deferral / active EE

$12,907

$6,652+94.0%

$8,065+60.0%

$4,300+200.1%

Admin fee / account holder

$12,093

$7,953+52.0%

$12,993-6.9%

$6,925+74.6%

LAW OFFICES OF REGINA SKYER & ASSOCIATES, LLP 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LAW OFFICES OF REGINA SKYER & ASSOCIATES, LLP 401(K) RETIREMENT 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