Retirement plan

FRANCHISE MANAGEMENT SERVICES, INC. 401(K) PROFIT SHARING PLAN

Name: FRANCHISE MANAGEMENT SERVICES, INC. - FRANCHISE MANAGEMENT SERVICES, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: FRANCHISE MANAGEMENT SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FRANCHISE MANAGEMENT SERVICES, INC. 401(K) PROFIT SHARING PLAN, FRANCHISE MANAGEMENT SERVICES, INC.

FRANCHISE MANAGEMENT SERVICES, INC.EIN 52-2329836Plan #001PY 2024

9919 GOLF COURSE ROAD - OCEAN CITY, MD 21842410-520-0176

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$12.8M

+27.0% from 2023

Total participants

395

+11.3% from 2023

Average account balance

$48,019

+19.9% from 2023

Annual return

16.88%

-2.81 pp from 2023

Benchmarks

See 937 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants250-999

Cohort937 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.77M

Not enough data

1 years with asset history on file

Average account balance

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

$48K

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.

266

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.

62.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.41M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+16.88%

Not enough data

1 years with return on file

Admin fee / account holder

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

$303

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

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 codes2E2F2G2J2T3D3H

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$81K

$237 / participant

Investment mgmt$6K6.9%
Contract admin$3K3.3%
Other / not subdivided$72K89.7%

% of EOY assets

0.632%

all-in expense ratio

Categories reported

2 / 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: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$48,019

$29,525+62.6%

$56,033-14.3%

$77,736-38.2%

Participation rate

62.2%

32.7%+29.5pp

52.5%+9.7pp

70.6%-8.4pp

Annual return

16.88%

18.90%-2.0pp

1711.38%-1694.5pp

31.26%-14.4pp

Employer contribution / active EE

$1,480

$569+160.0%

$1,041+42.2%

$2,728-45.7%

Participant deferral / active EE

$2,651

$1,062+149.7%

$1,954+35.7%

$4,651-43.0%

Admin fee / account holder

$303

$1,040-70.8%

$2,827-89.3%

$433-30.0%

FRANCHISE MANAGEMENT SERVICES, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FRANCHISE MANAGEMENT SERVICES, INC. 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