Retirement plan

MICHAEL W MCGOWAN CPA PA 401(K) PROFIT SHARING PLAN

Name: MICHAEL W. MCGOWAN, CPA PA - MICHAEL W MCGOWAN CPA PA 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: MICHAEL W. MCGOWAN, CPA PA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MICHAEL W MCGOWAN CPA PA 401(K) PROFIT SHARING PLAN, MICHAEL W. MCGOWAN, CPA PA

MICHAEL W. MCGOWAN, CPA PAEIN 56-2177917Plan #001PY 2024

7301 CARMEL EXECUTIVE PARK, STE 208 - CHARLOTTE, NC 28226704-341-3003LinkedIn1-10 employeesaccounting

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$675K

+29.7% from 2023

Total participants

0.0% from 2023

Average account balance

$225,012

+29.7% from 2023

Annual return

18.28%

+4.80 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

$675K

Not enough data

1 years with asset history on file

Average account balance

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

$225K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$60K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$20K

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

+18.28%

Not enough data

1 years with return on file

Admin fee / account holder

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

$50

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 codes2E2J

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$150

$50 / participant

Other / not subdivided$150100.0%

% of EOY assets

0.022%

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

$225,012

$160,070+40.6%

$147,117+52.9%

$145,897+54.2%

Participation rate

100.0%

84.0%+16.0pp

82.2%+17.8pp

80.3%+19.7pp

Annual return

18.28%

98.69%-80.4pp

420.54%-402.3pp

552.29%-534.0pp

Employer contribution / active EE

$9,119

$5,285+72.6%

$4,932+84.9%

$4,663+95.6%

Participant deferral / active EE

$10,722

$8,419+27.4%

$8,065+33.0%

$6,689+60.3%

Admin fee / account holder

$50

$15,035-99.7%

$12,993-99.6%

$13,390-99.6%

MICHAEL W MCGOWAN CPA PA 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MICHAEL W MCGOWAN CPA PA 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