Retirement plan

PALMCO ADMINISTRATION LLC 401(K) PROFIT SHARING PLAN & TRUST

Name: PALMCO ADMINISTRATION LLC - PALMCO ADMINISTRATION LLC 401(K) PROFIT SHARING PLAN & TRUST (2024) Form 5500
Creator: PALMCO ADMINISTRATION LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PALMCO ADMINISTRATION LLC 401(K) PROFIT SHARING PLAN & TRUST, PALMCO ADMINISTRATION LLC

PALMCO ADMINISTRATION LLCEIN 45-5554132Plan #001PY 2024

8751 18TH AVE - BROOKLYN, NY 112144605718-851-6655LinkedIn11-50 employeeshuman resources

Prospect flagsHigh feesRecently reached 100 employeesLow fidelity bond

How to read this page

Total assets (EOY)

$5.1M

+34.6% from 2023

Total participants

110

+6.8% from 2023

Average account balance

$47,459

+20.9% from 2023

Annual return

19.58%

-11.25 pp from 2023

Benchmarks

See 5,414 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants25-99

Cohort5,414 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.13M

Not enough data

1 years with asset history on file

Average account balance

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

$47K

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.

108

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.

142.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$679K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+19.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

$997

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 codes2E2F2G2J2T3D

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.
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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$108K

$1417 / participant

Other / not subdivided$108K100.0%

% of EOY assets

2.102%

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

$47,459

$57,119-16.9%

$85,187-44.3%

$80,935-41.4%

Participation rate

97.4%

56.4%+41.0pp

67.5%+29.8pp

67.7%+29.7pp

Annual return

19.58%

21.70%-2.1pp

66.67%-47.1pp

35.66%-16.1pp

Employer contribution / active EE

$4,409

$1,802+144.7%

$2,732+61.4%

$2,757+59.9%

Participant deferral / active EE

$4,524

$3,115+45.3%

$4,5250%

$4,299+5.2%

Admin fee / account holder

$997

$4,990-80.0%

$6,162-83.8%

$6,924-85.6%

PALMCO ADMINISTRATION LLC 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PALMCO ADMINISTRATION LLC 401(K) PROFIT SHARING PLAN & 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