Retirement plan

SEARCY, DENNEY ET AL. 401(K) PROFIT SHARING PLAN

Name: SEARCY DENNEY SCAROLA BARNHART & SHIPLEY, PA - SEARCY, DENNEY ET AL. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: SEARCY DENNEY SCAROLA BARNHART & SHIPLEY, PA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SEARCY, DENNEY ET AL. 401(K) PROFIT SHARING PLAN, SEARCY DENNEY SCAROLA BARNHART & SHIPLEY, PA

SEARCY DENNEY SCAROLA BARNHART & SHIPLEY, PAEIN 59-1720203Plan #003PY 2023

2139 PALM BEACH LAKES BLVD. - WEST PALM BEACH, FL 33409561-686-6300searcylaw.comLinkedIn51-200 employeeslaw practice

Prospect flagsLow returnsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$65.5M

+13.3% from 2022

Total participants

210

+0.5% from 2022

Average account balance

$318,194

+5.0% from 2022

Annual return

13.04%

+24.51 pp from 2022

Benchmarks

See 6,231 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,231 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$74.16M

Not enough data

1 years with asset history on file

Average account balance

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

$369K

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.

201

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.

99.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.69M

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

+11.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

$560

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
PURSUIT WEALTH MANAGEMENT4 years Service code 26 · EIN 84-2054234 4500 PGA BOULEVARD · PALM BEACH GARDENS, FL 33418	Advisory (Participants)	$89,817
AMERICAN UNITED LIFE INSURANCE CO2 years Filed as: ONEAMERICA RETIREMENT SERVICES LLC Service code 15 · EIN 46-5378846	Recordkeeping	$40,867
MATRIX TRUST COMPANY2 years Service code 18 · EIN 75-3182674	Custodial (other than securities); Cu...	$0
MATRIX TRUST COMPANY2 years Filed as: MSCS FIN SERVICES DIV OF BROADRIDGE Service code 59 · EIN 33-1151291	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$131K

$872 / participant

Recordkeeping$41K31.3%
Investment mgmt$90K68.7%

% of EOY assets

0.199%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$318,194

$91,439+248.0%

$135,974+134.0%

$71,511+345.0%

Participation rate

97.3%

75.7%+21.7pp

81.9%+15.4pp

67.9%+29.4pp

Annual return

13.04%

29.90%-16.9pp

68.30%-55.3pp

28.86%-15.8pp

Employer contribution / active EE

$19,389

$3,705+423.4%

$4,859+299.0%

$2,589+648.9%

Participant deferral / active EE

$5,993

$7,093-15.5%

$7,760-22.8%

$4,291+39.7%

Admin fee / account holder

$635

$1,267-49.9%

$10,767-94.1%

$1,588-60.0%

Provider

Service type

Compensation

PURSUIT WEALTH MANAGEMENT4 years

Service code 26 · EIN 84-2054234

4500 PGA BOULEVARD · PALM BEACH GARDENS, FL 33418

Advisory (Participants)

$89,817

AMERICAN UNITED LIFE INSURANCE CO2 years

Filed as: ONEAMERICA RETIREMENT SERVICES LLC

Service code 15 · EIN 46-5378846

Recordkeeping

$40,867

MATRIX TRUST COMPANY2 years

Service code 18 · EIN 75-3182674

Custodial (other than securities); Cu...

MATRIX TRUST COMPANY2 years

Filed as: MSCS FIN SERVICES DIV OF BROADRIDGE

Service code 59 · EIN 33-1151291

Shareholder Servicing

SEARCY, DENNEY ET AL. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SEARCY, DENNEY ET AL. 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