Retirement plan

FINANCIAL ASSET MANAGEMENT SYSTEMS, INC. 401K PLAN

Name: FINANCIAL ASSET MANAGEMENT SYSTEMS, INC. - FINANCIAL ASSET MANAGEMENT SYSTEMS, INC. 401K PLAN (2015) Form 5500
Creator: FINANCIAL ASSET MANAGEMENT SYSTEMS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FINANCIAL ASSET MANAGEMENT SYSTEMS, INC. 401K PLAN, FINANCIAL ASSET MANAGEMENT SYSTEMS, INC.

FINANCIAL ASSET MANAGEMENT SYSTEMS, INC.EIN 58-2067428Plan #001PY 2015

645 MOLLY LANE, STE. 110 - WOODSTOCK, GA 30189770-438-5586fams.netLinkedIn201-500 employeesfinancial services

Prospect flagsLow returnsLow participationLow assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$2.5M

No prior year

Total participants

464

No prior year

Average account balance

$6,806

No prior year

Annual return

-3.26%

No prior year

Benchmarks

See 856 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants100-249

Cohort856 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.52M

Not enough data

1 years with asset history on file

Average account balance

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

$107K

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.

82.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$65K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+17.69%

Not enough data

1 years with return on file

Admin fee / account holder

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

$7516

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

Top 1 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 15 · EIN 04-1590850	Recordkeeping	$17,014

Plan features & details

Pension benefit codes2A2G2J2K3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$17K

$89 / participant

Investment mgmt$1K7.5%
Contract admin$16K92.5%

% of EOY assets

0.684%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BDO USA, LLP
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$6,806

$31,109-78.1%

$67,704-89.9%

$52,331-87.0%

Participation rate

53.3%

54.0%-0.6pp

67.5%-14.2pp

68.1%-14.8pp

Annual return

-3.26%

23.70%-27.0pp

25.41%-28.7pp

4.54%-7.8pp

Employer contribution / active EE

$2,357

$1,076+119.1%

$2,559-7.9%

$1,882+25.3%

Participant deferral / active EE

$1,415

$1,970-28.2%

$3,585-60.5%

$3,022-53.2%

Admin fee / account holder

$47

$466-90.0%

$4,255-98.9%

$592-92.1%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 15 · EIN 04-1590850

Recordkeeping

$17,014

FINANCIAL ASSET MANAGEMENT SYSTEMS, INC. 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FINANCIAL ASSET MANAGEMENT SYSTEMS, INC. 401K 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