Retirement plan

ESSEX RICHARDS, PA PROFIT SHARING PLAN

Name: ESSEX RICHARDS, P.A. - ESSEX RICHARDS, PA PROFIT SHARING PLAN (2020) Form 5500
Creator: ESSEX RICHARDS, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ESSEX RICHARDS, PA PROFIT SHARING PLAN, ESSEX RICHARDS, P.A.

ESSEX RICHARDS, P.A.EIN 56-1144645Plan #001PY 2020

1701 SOUTH BLVD - CHARLOTTE, NC 282034727704-377-4300essexrichards.comLinkedIn11-50 employeeslaw practice

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$4.4M

+22.6% from 2019

Total participants

+30.4% from 2019

Average account balance

$169,532

+8.4% from 2019

Annual return

13.54%

-6.65 pp from 2019

Benchmarks

See 26,422 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort26,422 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.06M

Not enough data

1 years with asset history on file

Average account balance

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

$184K

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.

122.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$369K

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

+16.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12612

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 codes2E2F2J3D2G

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.
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

$14K

$532 / participant

Other / not subdivided$14K100.0%

% of EOY assets

0.314%

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

$169,532

$98,766+71.7%

$149,730+13.2%

$79,852+112.3%

Participation rate

84.6%

75.8%+8.8pp

82.5%+2.1pp

69.6%+15.0pp

Annual return

13.54%

27.43%-13.9pp

276.70%-263.2pp

31.72%-18.2pp

Employer contribution / active EE

$3,035

$3,217-5.7%

$4,645-34.7%

$2,471+22.8%

Participant deferral / active EE

$9,879

$5,681+73.9%

$6,843+44.4%

$3,740+164.1%

Admin fee / account holder

$532

$6,052-91.2%

$9,310-94.3%

$5,306-90.0%

ESSEX RICHARDS, PA PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ESSEX RICHARDS, PA 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