Retirement plan

WARD AND SMITH, P.A. PROFIT SHARING PLAN AND TRUST

Name: WARD AND SMITH, P.A. - WARD AND SMITH, P.A. PROFIT SHARING PLAN AND TRUST (2018) Form 5500
Creator: WARD AND SMITH, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WARD AND SMITH, P.A. PROFIT SHARING PLAN AND TRUST, WARD AND SMITH, P.A.

WARD AND SMITH, P.A.EIN 56-1034724Plan #001PY 2018

1001 COLLEGE COURT - NEW BERN, NC 28562252-672-5498wardandsmith.comLinkedIn201-500 employeeslaw practice

Prospect flagsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$71.2M

-5.6% from 2017

Total participants

322

+7.0% from 2017

Average account balance

$242,287

-10.8% from 2017

Annual return

-4.93%

-20.51 pp from 2017

Benchmarks

See 5,340 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,340 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$119.51M

Not enough data

1 years with asset history on file

Average account balance

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

$394K

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.

303

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.

87.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.98M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$24K

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

+13.41%

Not enough data

1 years with return on file

Admin fee / account holder

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

$449

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 2 by compensation

Provider	Service type	Compensation
CHARLES SCHWAB & CO., INC.3 years Filed as: SCHWAB RETIREMENT PLAN SERVICES INC Service code 15 · EIN 34-1479833	Recordkeeping	$85,368
FIDUCIARY INVESTMENT ADVISORS4+ years Service code 28 · EIN 20-4751585	Investment Management	$54,130

Plan features & details

Pension benefit codes2A2E2F2G2J2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$128K

$533 / participant

Investment mgmt$54K42.3%
Other / not subdivided$74K57.7%

% of EOY assets

0.180%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CARR, RIGGS & INGRAM, LLC
Auditor EIN: 721396621
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$242,287

$73,102+231.4%

$123,549+96.1%

$56,287+330.4%

Participation rate

88.3%

74.3%+14.0pp

82.3%+6.0pp

69.9%+18.5pp

Annual return

-4.93%

3.01%-7.9pp

119.20%-124.1pp

-9.96%+5.0pp

Employer contribution / active EE

$15,195

$2,977+410.4%

$4,628+228.3%

$2,111+619.8%

Participant deferral / active EE

$2,879

$5,423-46.9%

$6,426-55.2%

$3,350-14.0%

Admin fee / account holder

$435

$554-21.5%

$9,284-95.3%

$521-16.5%

Provider

Service type

Compensation

CHARLES SCHWAB & CO., INC.3 years

Filed as: SCHWAB RETIREMENT PLAN SERVICES INC

Service code 15 · EIN 34-1479833

Recordkeeping

$85,368

FIDUCIARY INVESTMENT ADVISORS4+ years

Service code 28 · EIN 20-4751585

Investment Management

$54,130

WARD AND SMITH, P.A. PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WARD AND SMITH, P.A. PROFIT SHARING 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