Retirement plan

NIFONG LAW FIRM, PLLC 401(K) PLAN

Name: NIFONG LAW FIRM, PLLC DBA NK PATENT LAW - NIFONG LAW FIRM, PLLC 401(K) PLAN (2023) Form 5500
Creator: NIFONG LAW FIRM, PLLC DBA NK PATENT LAW
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NIFONG LAW FIRM, PLLC 401(K) PLAN, NIFONG LAW FIRM, PLLC DBA NK PATENT LAW

NIFONG LAW FIRM, PLLC DBA NK PATENT LAWEIN 46-3098332Plan #001PY 2023

4101 LAKE BOONE TRAIL, SUITE 218 - RALEIGH, NC 27607919-348-2194

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$667K

+62.6% from 2022

Total participants

0.0% from 2022

Average account balance

$47,675

+62.6% from 2022

Annual return

27.26%

+50.70 pp from 2022

Benchmarks

See 139,766 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort139,766 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$965K

Not enough data

1 years with asset history on file

Average account balance

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

$60K

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.

133.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$183K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+18.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$817

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 codes2J2F2G3D2T

Plan features

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

1 tripped

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

$1K

$121 / participant

Other / not subdivided$1K100.0%

% of EOY assets

0.182%

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

$47,675

$148,623-67.9%

$135,974-64.9%

$139,466-65.8%

Participation rate

100.0%

83.9%+16.1pp

81.9%+18.1pp

80.3%+19.7pp

Annual return

27.26%

79.30%-52.0pp

68.30%-41.0pp

373.66%-346.4pp

Employer contribution / active EE

$5,560

$5,246+6.0%

$4,859+14.4%

$4,754+17.0%

Participant deferral / active EE

$9,016

$8,103+11.3%

$7,760+16.2%

$6,712+34.3%

Admin fee / account holder

$87

$12,406-99.3%

$10,767-99.2%

$11,409-99.2%

NIFONG LAW FIRM, PLLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NIFONG LAW FIRM, PLLC 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