Retirement plan

RONAYNE LAW OFFICE, P.C. 401(K) PROFIT SHARING PLAN

Name: RONAYNE LAW OFFICE, P.C. - RONAYNE LAW OFFICE, P.C. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: RONAYNE LAW OFFICE, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RONAYNE LAW OFFICE, P.C. 401(K) PROFIT SHARING PLAN, RONAYNE LAW OFFICE, P.C.

RONAYNE LAW OFFICE, P.C.EIN 46-0321869Plan #001PY 2023

24 5TH AVENUE SOUTHWEST - ABERDEEN, SD 57401605-225-0100LinkedIn1-10 employeeslaw practice

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$2.4M

+33.4% from 2022

Total participants

+9.1% from 2022

Average account balance

$203,405

+22.2% from 2022

Annual return

24.61%

+46.39 pp from 2022

Benchmarks

See 139,849 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort139,849 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.95M

Not enough data

1 years with asset history on file

Average account balance

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

$295K

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.

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.

111.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$147K

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

+11.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$55486

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 codes2E2G2J2T3D3H

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.
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.
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

1 tripped

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

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

$203,405

$148,582+36.9%

$135,942+49.6%

$139,456+45.9%

Participation rate

100.0%

83.9%+16.1pp

81.9%+18.1pp

80.3%+19.7pp

Annual return

24.61%

79.26%-54.6pp

68.28%-43.7pp

373.45%-348.8pp

Employer contribution / active EE

$15,193

$5,245+189.7%

$4,858+212.8%

$4,753+219.7%

Participant deferral / active EE

$2,607

$8,101-67.8%

$7,759-66.4%

$6,711-61.2%

Admin fee / account holder

$12,402-100.0%

$10,764-100.0%

$11,407-100.0%

RONAYNE LAW OFFICE, P.C. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

RONAYNE LAW OFFICE, P.C. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion