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 (2022) 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 2022

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)

$422K

+1.0% from 2021

Total participants

0.0% from 2021

Average account balance

$210,785

+1.0% from 2021

Annual return

-7.54%

-13.39 pp from 2021

Benchmarks

See 133,909 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort133,909 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$901K

Not enough data

1 years with asset history on file

Average account balance

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

$300K

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

$62K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$21K

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

+24.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

$48

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

$100

$50 / participant

Other / not subdivided$100100.0%

% of EOY assets

0.024%

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

$210,785

$138,078+52.7%

$125,363+68.1%

$134,509+56.7%

Participation rate

100.0%

84.5%+15.5pp

82.4%+17.6pp

81.2%+18.8pp

Annual return

-7.54%

750.49%-758.0pp

572.15%-579.7pp

418.13%-425.7pp

Employer contribution / active EE

$4,841

$5,245-7.7%

$4,815+0.5%

$4,741+2.1%

Participant deferral / active EE

$13,000

$7,800+66.7%

$7,447+74.6%

$6,400+103.1%

Admin fee / account holder

$50

$11,566-99.6%

$10,005-99.5%

$11,427-99.6%

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