Retirement plan

BUCKINGHAM, DOOLITTLE & BURROUGHS, LLC 401(K) PROFIT SHARING PLAN AND TRUST

Name: BUCKINGHAM, DOOLITTLE & BURROUGHS - BUCKINGHAM, DOOLITTLE & BURROUGHS, LLC 401(K) PROFIT SHARING PLAN AND TRUST (2023) Form 5500
Creator: BUCKINGHAM, DOOLITTLE & BURROUGHS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BUCKINGHAM, DOOLITTLE & BURROUGHS, LLC 401(K) PROFIT SHARING PLAN AND TRUST, BUCKINGHAM, DOOLITTLE & BURROUGHS

BUCKINGHAM, DOOLITTLE & BURROUGHSEIN 34-1832611Plan #002PY 2023

3800 EMBASSY PARKWAY SUITE 300 - AKRON, OH 44333330-643-0288bdblaw.comLinkedIn51-200 employeeslaw practice

Prospect flagsLow returnsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$55.4M

+6.1% from 2022

Total participants

208

-3.7% from 2022

Average account balance

$278,185

+10.4% from 2022

Annual return

14.45%

+28.20 pp from 2022

Benchmarks

See 6,231 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,231 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$57.17M

Not enough data

1 years with asset history on file

Average account balance

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

$266K

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.

215

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.

93.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.26M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+12.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$545

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 4 by compensation

Provider	Service type	Compensation
CBIZ RETIREMENT PLAN SERVICES5 years Filed as: CBIZ INVESTMENT ADVISORY SERVICES Service code 27 · EIN 81-3968784	Advisory (Plan)	$67,810
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	$22,983
APPLE GROWTH PARTNERS2 years Service code 10 · EIN 81-4504770 1540 WEST MARKET STREET · AKRON, OH 44313	Accounting	$18,000
DYNAMIC PENSION SERVICES, INC.3 years Filed as: DYNAMIC ADVISOR SOLUTIONS Service code 16 · EIN 26-3945512	Consulting	$8,951

Plan features & details

Pension benefit codes2T3D2R2E2F2H2J2K2S

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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 returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$117K

$890 / participant

Recordkeeping$23K19.3%
Investment mgmt$68K57.7%
Other / not subdivided$27K22.9%

% of EOY assets

0.212%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: EIDE BAILLY, LLP
Auditor EIN: 450250958
Audit fees: $18,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$278,185

$91,439+204.2%

$135,974+104.6%

$71,511+289.0%

Participation rate

93.2%

75.7%+17.5pp

81.9%+11.3pp

67.9%+25.2pp

Annual return

14.45%

29.90%-15.5pp

68.30%-53.9pp

28.86%-14.4pp

Employer contribution / active EE

$5,133

$3,705+38.5%

$4,859+5.6%

$2,589+98.2%

Participant deferral / active EE

$11,480

$7,093+61.8%

$7,760+47.9%

$4,291+167.6%

Admin fee / account holder

$590

$1,267-53.4%

$10,767-94.5%

$1,588-62.8%

Provider

Service type

Compensation

CBIZ RETIREMENT PLAN SERVICES5 years

Filed as: CBIZ INVESTMENT ADVISORY SERVICES

Service code 27 · EIN 81-3968784

Advisory (Plan)

$67,810

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

$22,983

APPLE GROWTH PARTNERS2 years

Service code 10 · EIN 81-4504770

1540 WEST MARKET STREET · AKRON, OH 44313

Accounting

$18,000

DYNAMIC PENSION SERVICES, INC.3 years

Filed as: DYNAMIC ADVISOR SOLUTIONS

Service code 16 · EIN 26-3945512

Consulting

$8,951

BUCKINGHAM, DOOLITTLE & BURROUGHS, LLC 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BUCKINGHAM, DOOLITTLE & BURROUGHS, LLC 401(K) PROFIT SHARING PLAN AND TRUST

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