Retirement plan

EMPLOYEE BENEFIT PLAN OF LONG ISLAND FINANCIAL MANAGEMENT SERVICES

Name: LONG ISLAND FINANCIAL MANAGEMENT SERVICES - EMPLOYEE BENEFIT PLAN OF LONG ISLAND FINANCIAL MANAGEMENT SERVICES (2019) Form 5500
Creator: LONG ISLAND FINANCIAL MANAGEMENT SERVICES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EMPLOYEE BENEFIT PLAN OF LONG ISLAND FINANCIAL MANAGEMENT SERVICES, LONG ISLAND FINANCIAL MANAGEMENT SERVICES

LONG ISLAND FINANCIAL MANAGEMENT SERVICESEIN 27-1905997Plan #001PY 2019

3535 JERUSALEM AVE - WANTAGH, NY 117932015516-557-2325

Prospect flagsHigh feesLow assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$117K

+146.7% from 2018

Total participants

+16.7% from 2018

Average account balance

$19,425

+105.6% from 2018

Annual return

33.94%

+33.94 pp from 2018

Benchmarks

See 119,339 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort119,339 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$922K

Not enough data

1 years with asset history on file

Average account balance

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

$102K

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.

112.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$134K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+14.26%

Not enough data

1 years with return on file

Admin fee / account holder

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

$18708

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 codes2F2G2T3D

Plan features

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.
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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$5K

$674 / participant

Other / not subdivided$5K100.0%

% of EOY assets

4.049%

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

$19,425

$157,296-87.7%

$141,191-86.2%

$152,897-87.3%

Participation rate

85.7%

84.8%+0.9pp

82.5%+3.2pp

82.5%+3.3pp

Annual return

33.94%

64.34%-30.4pp

71.41%-37.5pp

345.43%-311.5pp

Employer contribution / active EE

$2,735

$5,262-48.0%

$4,736-42.3%

$4,764-42.6%

Participant deferral / active EE

$5,551

$7,111-21.9%

$6,710-17.3%

$5,851-5.1%

Admin fee / account holder

$787

$12,125-93.5%

$10,264-92.3%

$11,599-93.2%

EMPLOYEE BENEFIT PLAN OF LONG ISLAND FINANCIAL MANAGEMENT SERVICES

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EMPLOYEE BENEFIT PLAN OF LONG ISLAND FINANCIAL MANAGEMENT SERVICES

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