Retirement plan

MY WEALTH MANAGEMENT 401(K)

Name: MY WEALTH MANAGEMENT, INC - MY WEALTH MANAGEMENT 401(K) (2023) Form 5500
Creator: MY WEALTH MANAGEMENT, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MY WEALTH MANAGEMENT 401(K), MY WEALTH MANAGEMENT, INC

MY WEALTH MANAGEMENT, INCEIN 46-3371901Plan #001PY 2023

12410 MILESTONE CENTER DR, #175 - GERMANTOWN, MD 20876301-330-7900my-wealthmanagement.comLinkedIn1-10 employeesfinancial services

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$341K

+50.3% from 2022

Total participants

0.0% from 2022

Average account balance

$113,767

+50.3% from 2022

Annual return

24.76%

+80.91 pp from 2022

Benchmarks

See 36,154 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort36,154 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$610K

Not enough data

1 years with asset history on file

Average account balance

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

$153K

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

$79K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$20K

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

-5.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$832

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 codes2E2G2J

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.

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

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

$113,767

$185,905-38.8%

$170,057-33.1%

$139,487-18.4%

Participation rate

100.0%

87.8%+12.2pp

87.0%+13.0pp

80.3%+19.7pp

Annual return

24.76%

60.56%-35.8pp

53.42%-28.7pp

373.84%-349.1pp

Employer contribution / active EE

$5,747

$7,597-24.4%

$6,790-15.4%

$4,755+20.9%

Participant deferral / active EE

$13,585

$11,627+16.8%

$10,411+30.5%

$6,713+102.4%

Admin fee / account holder

$15,397-100.0%

$12,826-100.0%

$11,407-100.0%

MY WEALTH MANAGEMENT 401(K)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

MY WEALTH MANAGEMENT 401(K)

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