Retirement plan

GROOM LAW GROUP PROFIT SHARING PLAN

Name: GROOM LAW GROUP, CHARTERED - GROOM LAW GROUP PROFIT SHARING PLAN (2024) Form 5500
Creator: GROOM LAW GROUP, CHARTERED
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GROOM LAW GROUP PROFIT SHARING PLAN, GROOM LAW GROUP, CHARTERED

GROOM LAW GROUP, CHARTEREDEIN 52-1219029Plan #002PY 2024

1701 PENNSYLVANIA AVENUE N.W., SUITE 1200 - WASHINGTON, DC 20006202-861-6320groom.comLinkedIn51-200 employeeslaw practice

Other plans on this EIN

1 filing

#003Retirement--

Prospect flagsHigh assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$195.4M

+27.4% from 2023

Total participants

233

+12.0% from 2023

Average account balance

$930,699

+24.4% from 2023

Annual return

31.08%

+10.78 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

$195.45M

Not enough data

1 years with asset history on file

Average account balance

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

$931K

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.

210

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.

86.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$6.25M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$38K

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

+31.08%

Not enough data

1 years with return on file

Admin fee / account holder

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

$-446

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 1 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL10+ years Service code 37 · EIN 04-2647786	Loan Processing	-$93,540

Plan features & details

Pension benefit codes2E2F2G2J2T2R

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.

Opportunity flags

2 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Plan-level admin expenses are zero - fees are likely paid at the master-trust level rather than the individual plan.

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BDO USA, P.C
Auditor EIN: 135381590
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$930,699

$101,591+816.1%

$147,096+532.7%

$74,429+1150.5%

Participation rate

86.1%

75.5%+10.5pp

82.2%+3.9pp

67.2%+18.8pp

Annual return

31.08%

8746.45%-8715.4pp

419.75%-388.7pp

1368.38%-1337.3pp

Employer contribution / active EE

$22,667

$3,813+494.5%

$4,936+359.2%

$2,625+763.6%

Participant deferral / active EE

$15,224

$7,302+108.5%

$8,071+88.6%

$4,348+250.1%

Admin fee / account holder

-$446

$1,750-125.5%

$13,005-103.4%

$1,944-122.9%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL10+ years

Service code 37 · EIN 04-2647786

Loan Processing

-$93,540

GROOM LAW GROUP PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GROOM LAW GROUP 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