Retirement plan

INSERO & CO. CPAS, LLP 401(K) PLAN

Name: INSERO & CO. CPAS, LLP - INSERO & CO. CPAS, LLP 401(K) PLAN (2024) Form 5500
Creator: INSERO & CO. CPAS, LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INSERO & CO. CPAS, LLP 401(K) PLAN, INSERO & CO. CPAS, LLP

INSERO & CO. CPAS, LLPEIN 47-5324570Plan #001PY 2024

300 CLINTON SQUARE - ROCHESTER, NY 14604800-232-9547

Prospect flagsLow returnsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$25.6M

+19.7% from 2023

Total participants

179

-5.3% from 2023

Average account balance

$146,334

+23.8% from 2023

Annual return

12.22%

-4.23 pp from 2023

Benchmarks

See 6,285 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,285 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$25.61M

Not enough data

1 years with asset history on file

Average account balance

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

$146K

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.

175

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.

96.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.89M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+12.22%

Not enough data

1 years with return on file

Admin fee / account holder

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

$640

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 6 by compensation

Provider	Service type	Compensation
USI CONSULTING GROUP1 year Filed as: USI CONSULTING GROUP, INC. Service code 15 · EIN 06-1053228 300 MERIDIAN CENTRE · ROCHESTER, NY 14618	Recordkeeping	$49,122
BAM ADVISOR SERVICES5 years Service code 27 8182 MARYLAND AVE, STE 500 · ST. LOUIS, MO 63105	Advisory (Plan)	$35,599
JEFFREY L. OFFHAUS CPA, LLC8 years Service code 10 · EIN 20-2368569	Accounting	$9,875
NEWPORT GROUP, INC.3 years Filed as: NEWPORT GROUP Service code 19 · EIN 27-2037969	Securities Custodian	$6,189
ABG PORTFOLIO STRATEGIES, INC.1 year Filed as: ALERA INVESTMENT ADVISORS LLC Service code 27 · EIN 82-1301701	Advisory (Plan)	$6,137
FIDELITY INVESTMENTS INSTITUTIONAL1 year Service code 60 · EIN 04-2647786	Sub-TA Fees	$5,023

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3B3D3H

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$112K

$855 / participant

Recordkeeping$54K48.4%
Trustee / custodial$6K5.5%
Investment mgmt$42K37.3%
Other / not subdivided$10K8.8%

% of EOY assets

0.437%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: JEFFREY L OFFHAUS CPA LLC
Auditor EIN: 202368569
Audit fees: $9,875
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$146,334

$101,591+44.0%

$147,096-0.5%

$74,429+96.6%

Participation rate

96.9%

75.5%+21.4pp

82.2%+14.8pp

67.2%+29.7pp

Annual return

12.22%

8746.45%-8734.2pp

419.75%-407.5pp

1368.38%-1356.2pp

Employer contribution / active EE

$2,579

$3,813-32.4%

$4,936-47.8%

$2,625-1.8%

Participant deferral / active EE

$11,865

$7,302+62.5%

$8,071+47.0%

$4,348+172.9%

Admin fee / account holder

$640

$1,750-63.4%

$13,005-95.1%

$1,944-67.1%

Provider

Service type

Compensation

USI CONSULTING GROUP1 year

Filed as: USI CONSULTING GROUP, INC.

Service code 15 · EIN 06-1053228

300 MERIDIAN CENTRE · ROCHESTER, NY 14618

Recordkeeping

$49,122

BAM ADVISOR SERVICES5 years

Service code 27

8182 MARYLAND AVE, STE 500 · ST. LOUIS, MO 63105

Advisory (Plan)

$35,599

JEFFREY L. OFFHAUS CPA, LLC8 years

Service code 10 · EIN 20-2368569

Accounting

$9,875

NEWPORT GROUP, INC.3 years

Filed as: NEWPORT GROUP

Service code 19 · EIN 27-2037969

Securities Custodian

$6,189

ABG PORTFOLIO STRATEGIES, INC.1 year

Filed as: ALERA INVESTMENT ADVISORS LLC

Service code 27 · EIN 82-1301701

Advisory (Plan)

$6,137

FIDELITY INVESTMENTS INSTITUTIONAL1 year

Service code 60 · EIN 04-2647786

Sub-TA Fees

$5,023

INSERO & CO. CPAS, LLP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INSERO & CO. CPAS, LLP 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