Retirement plan

ALLEN, H FRANK PROFIT SHARING PLAN

Name: H. FRANK ALLEN, ATTY. AT LAW - ALLEN, H FRANK PROFIT SHARING PLAN (2020) Form 5500
Creator: H. FRANK ALLEN, ATTY. AT LAW
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ALLEN, H FRANK PROFIT SHARING PLAN, H. FRANK ALLEN, ATTY. AT LAW

H. FRANK ALLEN, ATTY. AT LAWEIN 56-1803979Plan #001PY 2020

P.O. BOX 1258 - TARBORO, NC 278861258252-641-1800hfrankallen.comLinkedIn1-10 employeeslegal services

Prospect flagsHigh feesLow employer contributionLow fidelity bond

How to read this page

Total assets (EOY)

$808K

+8.1% from 2019

Total participants

+50.0% from 2019

Average account balance

$161,581

-13.5% from 2019

Annual return

14.69%

-9.35 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

$974K

Not enough data

1 years with asset history on file

Average account balance

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

$195K

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.

83.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$735

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

+17.57%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6445

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 codes2F2G2T3D2E

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.
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

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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).

Expense breakdown

Schedule H Part II

Admin total

$54K

$8930 / participant

Other / not subdivided$54K100.0%

% of EOY assets

6.632%

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

$161,581

$165,381-2.3%

$149,730+7.9%

$158,966+1.6%

Participation rate

83.3%

84.6%-1.2pp

82.5%+0.9pp

82.0%+1.4pp

Annual return

14.69%

348.29%-333.6pp

276.70%-262.0pp

302.95%-288.3pp

Employer contribution / active EE

$741

$5,104-85.5%

$4,645-84.1%

$4,762-84.5%

Participant deferral / active EE

$7,182-100.0%

$6,843-100.0%

$5,983-100.0%

Admin fee / account holder

$10,716

$10,809-0.9%

$9,310+15.1%

$11,250-4.8%

ALLEN, H FRANK PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ALLEN, H FRANK 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