Retirement plan

BAR ASSN/FDN MONTGOMERY CTY, MD. 401(K) PLAN

Name: BAR ASSN/FDN MONTGOMERY CTY, MD. - BAR ASSN/FDN MONTGOMERY CTY, MD. 401(K) PLAN (2023) Form 5500
Creator: BAR ASSN/FDN MONTGOMERY CTY, MD.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BAR ASSN/FDN MONTGOMERY CTY, MD. 401(K) PLAN, BAR ASSN/FDN MONTGOMERY CTY, MD.

BAR ASSN/FDN MONTGOMERY CTY, MD.EIN 52-0807787Plan #002PY 2023

27 W JEFFERSON ST - ROCKVILLE, MD 20850301-424-3454

Other plans on this EIN

1 filing

#003Retirement-$747K assets

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$619K

-13.7% from 2021

Total participants

+42.9% from 2021

Average account balance

$88,450

-26.1% from 2021

Annual return

13.27%

+2.75 pp from 2021

Benchmarks

See 139,707 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort139,707 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$657K

Not enough data

1 years with asset history on file

Average account balance

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

$94K

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.

77.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$9K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$948

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

+9.04%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2F2G2T3D2E2J2R

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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

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

$88,450

$148,629-40.5%

$135,982-35.0%

$139,487-36.6%

Participation rate

66.7%

83.9%-17.2pp

81.9%-15.3pp

80.3%-13.7pp

Annual return

13.27%

79.33%-66.1pp

68.32%-55.1pp

373.84%-360.6pp

Employer contribution / active EE

$2,607

$5,247-50.3%

$4,859-46.4%

$4,755-45.2%

Participant deferral / active EE

$825

$8,102-89.8%

$7,760-89.4%

$6,713-87.7%

Admin fee / account holder

$12,406-100.0%

$10,767-100.0%

$11,407-100.0%

BAR ASSN/FDN MONTGOMERY CTY, MD. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

BAR ASSN/FDN MONTGOMERY CTY, MD. 401(K) PLAN

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