Retirement plan

RMF ENGINEERING, INC. 401(K) PLAN

Name: RMF ENGINEERING, INC. - RMF ENGINEERING, INC. 401(K) PLAN (2023) Form 5500
Creator: RMF ENGINEERING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RMF ENGINEERING, INC. 401(K) PLAN, RMF ENGINEERING, INC.

RMF ENGINEERING, INC.EIN 52-1279953Plan #001PY 2023

5520 RESEARCH PARK DRIVE, SUITE 300 - BALTIMORE, MD 21228410-576-0505rmf.comLinkedIn201-500 employeesdesign

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$58M

+17.3% from 2022

Total participants

388

+1.0% from 2022

Average account balance

$182,320

+18.0% from 2022

Annual return

18.32%

+35.06 pp from 2022

Benchmarks

See 3,234 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,234 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$67.99M

Not enough data

1 years with asset history on file

Average account balance

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

$196K

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.

347

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.

77.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.44M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+18.62%

Not enough data

1 years with return on file

Admin fee / account holder

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

$632

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 7 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$123,706
TRIAD ADVISORS INC8 years Service code 55 5185 PEACHTREE PKWY #280 · NORCROSS, GA 300926541	Other Commissions	$71,021
LEAFHOUSE FINANCIAL ADVISORS, LLC2 years Service code 27 6504 BRIDGE POINT PKWY · AUSTIN, TX 787305097	Advisory (Plan)	$25,168
WEYRICH, CRONIN & SORRA, LLC2 years Filed as: WEYRICH, CRONIN & SORRA LLC Service code 99 1301 YORK RD STE 800 · LUTHERVILLE, MD 21093	Other Fees	$13,500
CBIZ RETIREMENT PLAN SERVICES1 year Filed as: CBIZ BENEFITS & INS SERVICES INC Service code 13 PO BOX 632886 · CINCINNATI, OH 45263	Contract Administrator	$12,364
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$8,567
CBIZ RETIREMENT PLAN SERVICES9+ years Filed as: CBIZ BENEFITS & INSURANCE SERVICES Service code 99 28264 NETWORK PL · CHICAGO, IL 60673	Other Fees	$5,000

Plan features & details

Pension benefit codes2E2G2J2K3D2F2T

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$190K

$711 / participant

Recordkeeping$2K0.9%
Other / not subdivided$188K99.1%

% of EOY assets

0.327%

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: WEYRICH, CRONIN & SORRA, LLC
Auditor EIN: 814643077
Audit fees: $187,982
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$182,320

$95,369+91.2%

$135,942+34.1%

$74,440+144.9%

Participation rate

73.8%

78.2%-4.4pp

81.9%-8.1pp

70.7%+3.0pp

Annual return

18.32%

32.72%-14.4pp

68.28%-50.0pp

34.37%-16.1pp

Employer contribution / active EE

$6,256

$3,878+61.3%

$4,858+28.8%

$2,638+137.2%

Participant deferral / active EE

$6,870

$7,788-11.8%

$7,759-11.5%

$4,529+51.7%

Admin fee / account holder

$597

$266+124.1%

$10,764-94.5%

$348+71.6%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$123,706

TRIAD ADVISORS INC8 years

Service code 55

5185 PEACHTREE PKWY #280 · NORCROSS, GA 300926541

Other Commissions

$71,021

LEAFHOUSE FINANCIAL ADVISORS, LLC2 years

Service code 27

6504 BRIDGE POINT PKWY · AUSTIN, TX 787305097

Advisory (Plan)

$25,168

WEYRICH, CRONIN & SORRA, LLC2 years

Filed as: WEYRICH, CRONIN & SORRA LLC

Service code 99

1301 YORK RD STE 800 · LUTHERVILLE, MD 21093

Other Fees

$13,500

CBIZ RETIREMENT PLAN SERVICES1 year

Filed as: CBIZ BENEFITS & INS SERVICES INC

Service code 13

PO BOX 632886 · CINCINNATI, OH 45263

Contract Administrator

$12,364

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$8,567

CBIZ RETIREMENT PLAN SERVICES9+ years

Filed as: CBIZ BENEFITS & INSURANCE SERVICES

Service code 99

28264 NETWORK PL · CHICAGO, IL 60673

Other Fees

$5,000

RMF ENGINEERING, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RMF ENGINEERING, INC. 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