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 (2020) 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 2020

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

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$217K

+86.1% from 2019

Total participants

+14.3% from 2019

Average account balance

$30,993

+59.6% from 2019

Annual return

34.10%

+0.16 pp from 2019

Benchmarks

See 120,756 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort120,756 peers

Snapshot2020

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

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

$11K

$1574 / participant

Other / not subdivided$11K100.0%

% of EOY assets

5.079%

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

$30,993

$165,381-81.3%

$149,730-79.3%

$158,966-80.5%

Participation rate

85.7%

84.6%+1.1pp

82.5%+3.2pp

82.0%+3.8pp

Annual return

34.10%

348.29%-314.2pp

276.70%-242.6pp

302.95%-268.9pp

Employer contribution / active EE

$3,176

$5,104-37.8%

$4,645-31.6%

$4,762-33.3%

Participant deferral / active EE

$7,061

$7,182-1.7%

$6,843+3.2%

$5,983+18.0%

Admin fee / account holder

$1,574

$10,809-85.4%

$9,310-83.1%

$11,250-86.0%

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