Retirement plan

NOVELLI LAW OFFICE, P.A. 401(K) PLAN

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

NOVELLI LAW OFFICE, P.A.EIN 46-1446793Plan #001PY 2023

150 S FIFTH ST STE 1320 - MINNEAPOLIS, MN 55402612-767-6478

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$262K

+38.7% from 2022

Total participants

+50.0% from 2022

Average account balance

$130,982

+38.7% from 2022

Annual return

18.14%

+35.36 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

$415K

Not enough data

1 years with asset history on file

Average account balance

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

$138K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$37K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+17.97%

Not enough data

1 years with return on file

Admin fee / account holder

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

$22063

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 codes2F2G2T3D2E2J2R3B

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$121

$40 / participant

Other / not subdivided$121100.0%

% of EOY assets

0.046%

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

$130,982

$148,582-11.8%

$135,942-3.6%

$139,456-6.1%

Participation rate

66.7%

83.9%-17.2pp

81.9%-15.2pp

80.3%-13.7pp

Annual return

18.14%

79.26%-61.1pp

68.28%-50.1pp

373.45%-355.3pp

Employer contribution / active EE

$1,630

$5,245-68.9%

$4,858-66.4%

$4,753-65.7%

Participant deferral / active EE

$11,288

$8,101+39.3%

$7,759+45.5%

$6,711+68.2%

Admin fee / account holder

$61

$12,402-99.5%

$10,764-99.4%

$11,407-99.5%

NOVELLI LAW OFFICE, P.A. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NOVELLI LAW OFFICE, P.A. 401(K) 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