Retirement plan

WELCH, DONLON & CZARPLES PLLC 401(K) PROFIT SHARING PLAN

Name: WELCH, DONLON & CZARPLES PLLC - WELCH, DONLON & CZARPLES PLLC 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: WELCH, DONLON & CZARPLES PLLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WELCH, DONLON & CZARPLES PLLC 401(K) PROFIT SHARING PLAN, WELCH, DONLON & CZARPLES PLLC

WELCH, DONLON & CZARPLES PLLCEIN 47-4665887Plan #001PY 2023

8 DENISON PARKWAY EAST, SUITE 203 - CORNING, NY 14830607-936-8057corningelmiralawyer.comLinkedIn1-10 employeeslaw practice

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.1M

+33.6% from 2022

Total participants

0.0% from 2022

Average account balance

$175,224

+33.6% from 2022

Annual return

20.00%

+40.24 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

$1.34M

Not enough data

1 years with asset history on file

Average account balance

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

$223K

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

$127K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$21K

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

+15.39%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1863

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 codes2E2G2R3B3D

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

$22K

$3176 / participant

Other / not subdivided$22K100.0%

% of EOY assets

2.115%

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

$175,224

$148,623+17.9%

$135,974+28.9%

$139,466+25.6%

Participation rate

85.7%

83.9%+1.9pp

81.9%+3.8pp

80.3%+5.4pp

Annual return

20.00%

79.30%-59.3pp

68.30%-48.3pp

373.66%-353.7pp

Employer contribution / active EE

$4,259

$5,246-18.8%

$4,859-12.3%

$4,754-10.4%

Participant deferral / active EE

$11,061

$8,103+36.5%

$7,760+42.5%

$6,712+64.8%

Admin fee / account holder

$3,705

$12,406-70.1%

$10,767-65.6%

$11,409-67.5%

WELCH, DONLON & CZARPLES PLLC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WELCH, DONLON & CZARPLES PLLC 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