Retirement plan

PARKER IBRAHIM & BERG LLP 401(K) PLAN

Name: PARKER IBRAHIM & BERG LLP - PARKER IBRAHIM & BERG LLP 401(K) PLAN (2022) Form 5500
Creator: PARKER IBRAHIM & BERG LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PARKER IBRAHIM & BERG LLP 401(K) PLAN, PARKER IBRAHIM & BERG LLP

PARKER IBRAHIM & BERG LLPEIN 27-4672950Plan #001PY 2022

270 DAVIDSON AVENUE - SOMERSET, NJ 08873908-725-9700piblaw.comLinkedIn51-200 employeeslaw practice

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$6.2M

-19.0% from 2021

Total participants

217

-4.8% from 2021

Average account balance

$28,533

-15.7% from 2021

Annual return

-14.79%

-26.24 pp from 2021

Benchmarks

See 28,005 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,005 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.21M

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

174

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.

93.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$455K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+9.82%

Not enough data

1 years with return on file

Admin fee / account holder

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

$28

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
VOYA RETIREMENT INSURANCE & ANNUITY7 years Filed as: VOYA RETIREMENT INS. & ANNUITY CO. Service code 26 · EIN 71-0294708	Advisory (Participants)	$6,072
RED BANK PENSION SERVICES, INC.2 years Service code 49	Other Services	$3,238
MORNINGSTAR7 years Service code 27	Advisory (Plan)	$1,035

Plan features & details

Pension benefit codes2F2G2J2T3D

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.
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.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$6K

$124 / participant

Contract admin$6K100.0%

% of EOY assets

0.098%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WISS & COMPANY, LLP
Auditor EIN: 221732349
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$28,533

$82,674-65.5%

$125,363-77.2%

$68,495-58.3%

Participation rate

100.0%

75.0%+25.0pp

82.4%+17.6pp

67.9%+32.1pp

Annual return

-14.79%

-5.97%-8.8pp

572.15%-586.9pp

-7.84%-7.0pp

Employer contribution / active EE

$5,064

$3,382+49.7%

$4,815+5.2%

$2,596+95.0%

Participant deferral / active EE

$9,262

$6,111+51.6%

$7,447+24.4%

$4,028+130.0%

Admin fee / account holder

$28

$6,276-99.6%

$10,005-99.7%

$5,403-99.5%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY7 years

Filed as: VOYA RETIREMENT INS. & ANNUITY CO.

Service code 26 · EIN 71-0294708

Advisory (Participants)

$6,072

RED BANK PENSION SERVICES, INC.2 years

Service code 49

Other Services

$3,238

MORNINGSTAR7 years

Service code 27

Advisory (Plan)

$1,035

PARKER IBRAHIM & BERG LLP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PARKER IBRAHIM & BERG LLP 401(K) 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