Retirement plan

BRENNAN, MANNA & DIAMOND, LLC 401(K) PROFIT SHARING PLAN

Name: BRENNAN, MANNA & DIAMOND, LLC - BRENNAN, MANNA & DIAMOND, LLC 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: BRENNAN, MANNA & DIAMOND, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BRENNAN, MANNA & DIAMOND, LLC 401(K) PROFIT SHARING PLAN, BRENNAN, MANNA & DIAMOND, LLC

BRENNAN, MANNA & DIAMOND, LLCEIN 34-1924544Plan #001PY 2023

75 E MARKET ST - AKRON, OH 443082010330-253-5934bmdllc.comLinkedIn51-200 employeeslaw practice

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$34.9M

+8.5% from 2022

Total participants

266

+9.5% from 2022

Average account balance

$132,242

-6.3% from 2022

Annual return

5.88%

+17.78 pp from 2022

Benchmarks

See 6,234 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,234 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$43.39M

Not enough data

1 years with asset history on file

Average account balance

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

$152K

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.

285

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.

95.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.82M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

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

+20.88%

Not enough data

1 years with return on file

Admin fee / account holder

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

$313

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
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE CO OF AME Service code 64 · EIN 84-0467907 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$48,221
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$6,533
HUNTINGTON NATIONAL BANK3 years Service code 27 519 MADISON AVENUE MAD30 · TOLEDO, OH 43604	Advisory (Plan)	$1,568
ONEDIGITAL INVESTMENT ADVISORS LLC1 year Filed as: ONEDIGITAL INVESTMENT ADVISORS, LLC Service code 27 P.O. BOX 735399 · DALLAS, TX 753735399	Advisory (Plan)	$1,239

Plan features & details

Pension benefit codes2E2G2J2K2R3B3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 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.

Expense breakdown

Schedule H Part II

Admin total

$80K

$575 / participant

Investment mgmt$80K100.0%

% of EOY assets

0.229%

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: EIDE BAILLY
Auditor EIN: 450250958
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$132,242

$91,424+44.6%

$135,942-2.7%

$71,495+85.0%

Participation rate

98.6%

75.7%+22.9pp

81.9%+16.6pp

67.9%+30.6pp

Annual return

5.88%

29.90%-24.0pp

68.28%-62.4pp

28.85%-23.0pp

Employer contribution / active EE

$8,324

$3,704+124.7%

$4,858+71.4%

$2,589+221.5%

Participant deferral / active EE

$10,413

$7,092+46.8%

$7,759+34.2%

$4,291+142.7%

Admin fee / account holder

$303

$1,266-76.1%

$10,764-97.2%

$1,588-80.9%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE CO OF AME

Service code 64 · EIN 84-0467907

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$48,221

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$6,533

HUNTINGTON NATIONAL BANK3 years

Service code 27

519 MADISON AVENUE MAD30 · TOLEDO, OH 43604

Advisory (Plan)

$1,568

ONEDIGITAL INVESTMENT ADVISORS LLC1 year

Filed as: ONEDIGITAL INVESTMENT ADVISORS, LLC

Service code 27

P.O. BOX 735399 · DALLAS, TX 753735399

Advisory (Plan)

$1,239

BRENNAN, MANNA & DIAMOND, LLC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BRENNAN, MANNA & DIAMOND, LLC 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