Retirement plan

GOLDBERG & BANKS, P.C. TAX DEFERRED SAVINGS PLAN AND TRUST

Name: GOLDBERG & BANKS, P.C. - GOLDBERG & BANKS, P.C. TAX DEFERRED SAVINGS PLAN AND TRUST (2020) Form 5500
Creator: GOLDBERG & BANKS, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GOLDBERG & BANKS, P.C. TAX DEFERRED SAVINGS PLAN AND TRUST, GOLDBERG & BANKS, P.C.

GOLDBERG & BANKS, P.C.EIN 52-2062749Plan #001PY 2020

1829 REISTERSTOWN RD, SUITE 120 - BALTIMORE, MD 21208410-580-9530gbpclawfirm.comLinkedIn1-10 employeeslaw practice

Prospect flagsLow returnsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$7.4M

-8.2% from 2019

Total participants

0.0% from 2019

Average account balance

$1,054,772

-8.2% from 2019

Annual return

6.62%

-17.67 pp from 2019

Benchmarks

See 120,756 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort120,756 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.22M

Not enough data

1 years with asset history on file

Average account balance

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

$1.6M

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

$57K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+11.64%

Not enough data

1 years with return on file

Admin fee / account holder

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

$48000

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 codes2J2H

Plan features

2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$1.3M

$188571 / participant

Other / not subdivided$1M100.0%

% of EOY assets

17.878%

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

$1,054,772

$165,381+537.8%

$149,730+604.4%

$158,966+563.5%

Participation rate

100.0%

84.6%+15.4pp

82.5%+17.5pp

82.0%+18.0pp

Annual return

6.62%

348.29%-341.7pp

276.70%-270.1pp

302.95%-296.3pp

Employer contribution / active EE

$4,221

$5,104-17.3%

$4,645-9.1%

$4,762-11.4%

Participant deferral / active EE

$13,692

$7,182+90.6%

$6,843+100.1%

$5,983+128.8%

Admin fee / account holder

$188,571

$10,809+1644.5%

$9,310+1925.4%

$11,250+1576.2%

GOLDBERG & BANKS, P.C. TAX DEFERRED SAVINGS PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GOLDBERG & BANKS, P.C. TAX DEFERRED SAVINGS PLAN AND TRUST

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