Retirement plan

PHILLIPS LAW PARTNERS, LLP 401(K) PROFIT SHARING PLAN

Name: PHILLIPS LAW PARTNERS, LLP - PHILLIPS LAW PARTNERS, LLP 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: PHILLIPS LAW PARTNERS, LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PHILLIPS LAW PARTNERS, LLP 401(K) PROFIT SHARING PLAN, PHILLIPS LAW PARTNERS, LLP

PHILLIPS LAW PARTNERS, LLPEIN 27-3707378Plan #002PY 2023

707 WILSHIRE BLVD STE 3800 - LOS ANGELES, CA 900173541213-680-9212phillipslawpartners.comLinkedIn11-50 employeeslaw practice

Other plans on this EIN

2 filings

#001Retirement-$7.7M assets #003Retirement-$2.1M assets

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$6.9M

+19.4% from 2022

Total participants

+6.3% from 2022

Average account balance

$430,544

+4.5% from 2022

Annual return

19.20%

+35.98 pp from 2022

Benchmarks

See 139,766 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort139,766 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.13M

Not enough data

1 years with asset history on file

Average account balance

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

$508K

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.

200.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$181K

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

+16.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6863

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 codes2F2G2T3D2E2J2R3B

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$188K

$23541 / participant

Other / not subdivided$188K100.0%

% of EOY assets

2.734%

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

$430,544

$148,623+189.7%

$135,974+216.6%

$139,466+208.7%

Participation rate

87.5%

83.9%+3.6pp

81.9%+5.6pp

80.3%+7.2pp

Annual return

19.20%

79.30%-60.1pp

68.30%-49.1pp

373.66%-354.5pp

Employer contribution / active EE

$7,207

$5,246+37.4%

$4,859+48.3%

$4,754+51.6%

Participant deferral / active EE

$17,908

$8,103+121.0%

$7,760+130.8%

$6,712+166.8%

Admin fee / account holder

$11,771

$12,406-5.1%

$10,767+9.3%

$11,409+3.2%

PHILLIPS LAW PARTNERS, LLP 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PHILLIPS LAW PARTNERS, LLP 401(K) PROFIT SHARING 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