Retirement plan

THE LAW OFFICES OF FREEMAN & FREEMAN, P.C. PROFIT SHARING PLAN

Name: FREEMAN & FREEMAN, P.C. - THE LAW OFFICES OF FREEMAN & FREEMAN, P.C. PROFIT SHARING PLAN (2023) Form 5500
Creator: FREEMAN & FREEMAN, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE LAW OFFICES OF FREEMAN & FREEMAN, P.C. PROFIT SHARING PLAN, FREEMAN & FREEMAN, P.C.

FREEMAN & FREEMAN, P.C.EIN 52-1759346Plan #001PY 2023

100 PARK AVENUE STE 250 - ROCKVILLE, MD 20850301-315-0200freemanattorneys.comLinkedIn1-10 employees

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$834K

+33.1% from 2022

Total participants

-10.0% from 2022

Average account balance

$92,639

+47.9% from 2022

Annual return

25.51%

+52.97 pp from 2022

Benchmarks

See 139,766 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort139,766 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.08M

Not enough data

1 years with asset history on file

Average account balance

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

$120K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$64K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+21.64%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1241

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 codes2E2G2J

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$28K

$3131 / participant

Other / not subdivided$28K100.0%

% of EOY assets

3.380%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

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

$92,639

$148,623-37.7%

$135,974-31.9%

$139,466-33.6%

Participation rate

100.0%

83.9%+16.1pp

81.9%+18.1pp

80.3%+19.7pp

Annual return

25.51%

79.30%-53.8pp

68.30%-42.8pp

373.66%-348.2pp

Employer contribution / active EE

$1,681

$5,246-68.0%

$4,859-65.4%

$4,754-64.6%

Participant deferral / active EE

$5,822

$8,103-28.1%

$7,760-25.0%

$6,712-13.3%

Admin fee / account holder

$3,131

$12,406-74.8%

$10,767-70.9%

$11,409-72.6%

THE LAW OFFICES OF FREEMAN & FREEMAN, P.C. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE LAW OFFICES OF FREEMAN & FREEMAN, P.C. 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