Retirement plan

ASKEY, ASKEY & ASSOCIATES, CPA, LLC 401(K) PROFIT SHARING PLAN

Name: ASKEY, ASKEY & ASSOCIATES, CPA, LLC - ASKEY, ASKEY & ASSOCIATES, CPA, LLC 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: ASKEY, ASKEY & ASSOCIATES, CPA, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ASKEY, ASKEY & ASSOCIATES, CPA, LLC 401(K) PROFIT SHARING PLAN, ASKEY, ASKEY & ASSOCIATES, CPA, LLC

ASKEY, ASKEY & ASSOCIATES, CPA, LLCEIN 52-1999052Plan #001PY 2024

P.O. BOX 662, 23507 HOLLYWOOD ROAD - LEONARDTOWN, MD 20650301-475-5671aaacpa.comLinkedIn11-50 employeesaccounting

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.6M

-31.6% from 2023

Total participants

-7.4% from 2023

Average account balance

$62,705

-26.1% from 2023

Annual return

10.30%

-3.87 pp from 2023

Benchmarks

See 143,710 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort143,710 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.57M

Not enough data

1 years with asset history on file

Average account balance

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

$63K

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.

138.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$222K

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

+10.30%

Not enough data

1 years with return on file

Admin fee / account holder

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

$47783

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 codes2E2F2J3B3D

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).
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.
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

$1.2M

$66365 / participant

Other / not subdivided$1M100.0%

% of EOY assets

76.202%

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

$62,705

$160,040-60.8%

$147,096-57.4%

$145,877-57.0%

Participation rate

100.0%

84.0%+16.0pp

82.2%+17.8pp

80.3%+19.7pp

Annual return

10.30%

98.49%-88.2pp

419.75%-409.4pp

551.28%-541.0pp

Employer contribution / active EE

$3,357

$5,289-36.5%

$4,936-32.0%

$4,663-28.0%

Participant deferral / active EE

$8,965

$8,429+6.4%

$8,071+11.1%

$6,691+34.0%

Admin fee / account holder

$47,783

$15,050+217.5%

$13,005+267.4%

$13,402+256.5%

ASKEY, ASKEY & ASSOCIATES, CPA, LLC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ASKEY, ASKEY & ASSOCIATES, CPA, LLC 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