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 (2023) 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 2023

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

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$200K

+61.8% from 2022

Total participants

0.0% from 2022

Average account balance

$50,015

+61.8% from 2022

Annual return

24.99%

+43.85 pp from 2022

Benchmarks

See 36,165 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort36,165 peers

Snapshot2023

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

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

$50,015

$185,883-73.1%

$170,043-70.6%

$139,466-64.1%

Participation rate

100.0%

87.8%+12.2pp

87.0%+13.0pp

80.3%+19.7pp

Annual return

24.99%

60.54%-35.6pp

53.40%-28.4pp

373.66%-348.7pp

Employer contribution / active EE

$4,183

$7,596-44.9%

$6,790-38.4%

$4,754-12.0%

Participant deferral / active EE

$10,975

$11,626-5.6%

$10,410+5.4%

$6,712+63.5%

Admin fee / account holder

$15,393-100.0%

$12,824-100.0%

$11,409-100.0%

FARLEY FINANCIAL ASSOCIATES 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

FARLEY FINANCIAL ASSOCIATES 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