Retirement plan

BURNS, DAY & PRESNELL, P.A. 401(K) PLAN

Name: BURNS, DAY & PRESNELL, P.A. - BURNS, DAY & PRESNELL, P.A. 401(K) PLAN (2024) Form 5500
Creator: BURNS, DAY & PRESNELL, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BURNS, DAY & PRESNELL, P.A. 401(K) PLAN, BURNS, DAY & PRESNELL, P.A.

BURNS, DAY & PRESNELL, P.A.EIN 56-1540754Plan #002PY 2024

2626 GLENWOOD AVE, STE 560 - RALEIGH, NC 276081043919-782-1441burnsdaypresnell.comLinkedIn11-50 employeeslaw practice

Prospect flagsHigh feesHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$8.8M

+15.9% from 2023

Total participants

-5.9% from 2023

Average account balance

$588,131

+23.6% from 2023

Annual return

12.95%

-2.80 pp from 2023

Benchmarks

See 143,415 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort143,415 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.82M

Not enough data

1 years with asset history on file

Average account balance

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

$588K

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.

136.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$274K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$25K

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

+12.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3308

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 codes2F2G2T3D2E2J2R

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$50K

$4510 / participant

Other / not subdivided$50K100.0%

% of EOY assets

0.562%

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

$588,131

$160,070+267.4%

$147,117+299.8%

$145,897+303.1%

Participation rate

90.9%

84.0%+6.9pp

82.2%+8.7pp

80.3%+10.6pp

Annual return

12.95%

98.69%-85.7pp

420.54%-407.6pp

552.29%-539.3pp

Employer contribution / active EE

$10,462

$5,285+98.0%

$4,932+112.1%

$4,663+124.4%

Participant deferral / active EE

$14,447

$8,419+71.6%

$8,065+79.1%

$6,689+116.0%

Admin fee / account holder

$3,308

$15,035-78.0%

$12,993-74.5%

$13,390-75.3%

BURNS, DAY & PRESNELL, P.A. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BURNS, DAY & PRESNELL, P.A. 401(K) 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