Retirement plan

PROFIT SHARING AND RETIREMENT PLAN OF SMITH HAUGHEY, RICE AND ROEGGE, P.C.

Name: SMITH,HAUGHEY,RICE AND ROEGGE, P.C. - PROFIT SHARING AND RETIREMENT PLAN OF SMITH HAUGHEY, RICE AND ROEGGE, P.C. (2023) Form 5500
Creator: SMITH,HAUGHEY,RICE AND ROEGGE, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PROFIT SHARING AND RETIREMENT PLAN OF SMITH HAUGHEY, RICE AND ROEGGE, P.C., SMITH,HAUGHEY,RICE AND ROEGGE, P.C.

SMITH,HAUGHEY,RICE AND ROEGGE, P.C.EIN 38-2234596Plan #002PY 2023

100 MONROE CENTER NW - GRAND RAPIDS, MI 49503616-774-8000shrr.comLinkedIn51-200 employeeslaw practice

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$39.9M

+13.1% from 2022

Total participants

171

-6.6% from 2022

Average account balance

$241,730

+19.3% from 2022

Annual return

16.87%

+33.15 pp from 2022

Benchmarks

See 6,228 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,228 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$40.48M

Not enough data

1 years with asset history on file

Average account balance

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

$253K

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.

160

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.

92.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.44M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+13.74%

Not enough data

1 years with return on file

Admin fee / account holder

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

$666

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 1 by compensation

Provider	Service type	Compensation
GREENLEAF TRUST9+ years Service code 15 · EIN 38-2416104	Recordkeeping	$91,780

Plan features & details

Pension benefit codes2E2G2J2K2S3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$92K

$858 / participant

Recordkeeping$2K2.7%
Investment mgmt$89K97.3%

% of EOY assets

0.230%

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: BAKER HOLTZ
Auditor EIN: 382268656
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$241,730

$91,474+164.3%

$135,982+77.8%

$71,529+237.9%

Participation rate

94.4%

75.7%+18.7pp

81.9%+12.5pp

67.9%+26.5pp

Annual return

16.87%

29.89%-13.0pp

68.32%-51.5pp

28.97%-12.1pp

Employer contribution / active EE

$2,237

$3,705-39.6%

$4,859-54.0%

$2,590-13.6%

Participant deferral / active EE

$9,691

$7,095+36.6%

$7,760+24.9%

$4,291+125.8%

Admin fee / account holder

$556

$1,267-56.1%

$10,767-94.8%

$1,588-65.0%

Provider

Service type

Compensation

GREENLEAF TRUST9+ years

Service code 15 · EIN 38-2416104

Recordkeeping

$91,780

PROFIT SHARING AND RETIREMENT PLAN OF SMITH HAUGHEY, RICE AND ROEGGE, P.C.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PROFIT SHARING AND RETIREMENT PLAN OF SMITH HAUGHEY, RICE AND ROEGGE, P.C.

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