Retirement plan

GOFF & HERRINGTON, P. C. 401(K) PROFIT SHARING PLAN

Name: GOFF & HERRINGTON, P.C. - GOFF & HERRINGTON, P. C. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: GOFF & HERRINGTON, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GOFF & HERRINGTON, P. C. 401(K) PROFIT SHARING PLAN, GOFF & HERRINGTON, P.C.

GOFF & HERRINGTON, P.C.EIN 27-3625988Plan #001PY 2023

PO BOX 153320 - LUFKIN, TX 75915936-634-2345LinkedIn1-10 employeesaccounting

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$1.1M

+33.2% from 2022

Total participants

+27.3% from 2022

Average account balance

$95,748

No prior year

Annual return

23.42%

+34.81 pp from 2022

Benchmarks

See 139,707 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort139,707 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.44M

Not enough data

1 years with asset history on file

Average account balance

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

$111K

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.

162.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$102K

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

+16.64%

Not enough data

1 years with return on file

Admin fee / account holder

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

$43

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 codes2E2F2H2J3D

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

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

$95,748

$148,629-35.6%

$135,982-29.6%

$139,487-31.4%

Participation rate

80.0%

83.9%-3.9pp

81.9%-1.9pp

80.3%-0.3pp

Annual return

23.42%

79.33%-55.9pp

68.32%-44.9pp

373.84%-350.4pp

Employer contribution / active EE

$1,181

$5,247-77.5%

$4,859-75.7%

$4,755-75.2%

Participant deferral / active EE

$6,614

$8,102-18.4%

$7,760-14.8%

$6,713-1.5%

Admin fee / account holder

$12,406-100.0%

$10,767-100.0%

$11,407-100.0%

GOFF & HERRINGTON, P. C. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

GOFF & HERRINGTON, P. C. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion