Retirement plan

SMITH ELLIOTT KEARNS & COMPANY LLC EMPLOYEES' 401(K) PROFIT SHARING PLAN

Name: SMITH ELLIOTT KEARNS & COMPANY, LLC - SMITH ELLIOTT KEARNS & COMPANY LLC EMPLOYEES' 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: SMITH ELLIOTT KEARNS & COMPANY, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SMITH ELLIOTT KEARNS & COMPANY LLC EMPLOYEES' 401(K) PROFIT SHARING PLAN, SMITH ELLIOTT KEARNS & COMPANY, LLC

SMITH ELLIOTT KEARNS & COMPANY, LLCEIN 52-0783935Plan #001PY 2023

19405 EMERALD SQ., STE 2300 - HAGERSTOWN, MD 21742301-733-5020

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$40M

+20.7% from 2022

Total participants

251

+5.5% from 2022

Average account balance

$160,661

+15.3% from 2022

Annual return

16.42%

+33.70 pp from 2022

Benchmarks

See 6,231 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,231 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$47.27M

Not enough data

1 years with asset history on file

Average account balance

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

$194K

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.

244

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

$2.66M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+14.86%

Not enough data

1 years with return on file

Admin fee / account holder

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

$588

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
WELLS FARGO BANK, N.A.5 years Filed as: WELLS FARGO ADVIOSRS Service code 99	Other Fees	$39,451
DEMBO, JONES, HEALY, PENNINGTON & M9+ years Service code 10 · EIN 52-1073331	Accounting	$12,200
MORNINGSTAR9+ years Service code 27	Advisory (Plan)	$5,851
MORNINGSTAR4 years Filed as: MORNINGSTART Service code 27 · EIN 36-3297908	Advisory (Plan)	$0
VOYA RETIREMENT INSURANCE & ANNUITY9+ years Filed as: VOYA RETIREMENT INS AND ANNUITY CO Service code 64 · EIN 71-0294708	Recordkeeping Fees	$0
WELLS FARGO BANK, N.A.5 years Filed as: WELLS FARGO ADVISORS Service code 21 · EIN 34-1542819	Bank Trustee	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2T3B3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$109K

$568 / participant

Recordkeeping$97K88.8%
Other / not subdivided$12K11.2%

% of EOY assets

0.273%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: DEMBO JONES PC
Auditor EIN: 521073331
Audit fees: $12,200
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$160,661

$91,439+75.7%

$135,974+18.2%

$71,511+124.7%

Participation rate

99.0%

75.7%+23.3pp

81.9%+17.0pp

67.9%+31.0pp

Annual return

16.42%

29.90%-13.5pp

68.30%-51.9pp

28.86%-12.4pp

Employer contribution / active EE

$4,788

$3,705+29.2%

$4,859-1.5%

$2,589+84.9%

Participant deferral / active EE

$8,316

$7,093+17.2%

$7,760+7.2%

$4,291+93.8%

Admin fee / account holder

$438

$1,267-65.4%

$10,767-95.9%

$1,588-72.4%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.5 years

Filed as: WELLS FARGO ADVIOSRS

Service code 99

Other Fees

$39,451

DEMBO, JONES, HEALY, PENNINGTON & M9+ years

Service code 10 · EIN 52-1073331

Accounting

$12,200

MORNINGSTAR9+ years

Service code 27

Advisory (Plan)

$5,851

MORNINGSTAR4 years

Filed as: MORNINGSTART

Service code 27 · EIN 36-3297908

Advisory (Plan)

VOYA RETIREMENT INSURANCE & ANNUITY9+ years

Filed as: VOYA RETIREMENT INS AND ANNUITY CO

Service code 64 · EIN 71-0294708

Recordkeeping Fees

WELLS FARGO BANK, N.A.5 years

Filed as: WELLS FARGO ADVISORS

Service code 21 · EIN 34-1542819

Bank Trustee

SMITH ELLIOTT KEARNS & COMPANY LLC EMPLOYEES' 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SMITH ELLIOTT KEARNS & COMPANY LLC EMPLOYEES' 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