Retirement plan

FARLEY FINANCIAL ASSOCIATES 401(K) PROFIT SHARING PLAN

Name: JAMES FARLEY DBA FARLEY FINANCIAL ASSOCIATES - FARLEY FINANCIAL ASSOCIATES 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: JAMES FARLEY DBA FARLEY FINANCIAL ASSOCIATES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FARLEY FINANCIAL ASSOCIATES 401(K) PROFIT SHARING PLAN, JAMES FARLEY DBA FARLEY FINANCIAL ASSOCIATES

JAMES FARLEY DBA FARLEY FINANCIAL ASSOCIATESEIN 46-0908897Plan #001PY 2022

1162 PITTSFORD VICTOR ROAD, SUITE 2 - PITTSFORD, NY 14534585-802-2686

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$124K

No prior year

Total participants

No prior year

Average account balance

$30,920

No prior year

Annual return

-18.86%

No prior year

Benchmarks

See 35,205 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort35,205 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$374K

Not enough data

1 years with asset history on file

Average account balance

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

$125K

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.

150.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$35K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+20.24%

Not enough data

1 years with return on file

Admin fee / account holder

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

$9009

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 codes2E2F2J2T3B3D

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).
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.
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.

Opportunity flags

2 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).

Expense breakdown

Schedule H Part II

Admin total

$2K

$504 / participant

Other / not subdivided$2K100.0%

% of EOY assets

1.223%

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

$30,920

$167,533-81.5%

$151,645-79.6%

$134,545-77.0%

Participation rate

100.0%

88.4%+11.6pp

87.5%+12.5pp

81.2%+18.8pp

Annual return

-18.86%

7.81%-26.7pp

3.34%-22.2pp

418.37%-437.2pp

Employer contribution / active EE

$3,681

$6,828-46.1%

$6,165-40.3%

$4,742-22.4%

Participant deferral / active EE

$8,968

$8,985-0.2%

$8,363+7.2%

$6,401+40.1%

Admin fee / account holder

$378

$13,781-97.3%

$11,614-96.7%

$11,431-96.7%

FARLEY FINANCIAL ASSOCIATES 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FARLEY FINANCIAL ASSOCIATES 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