Retirement plan

FARAH AND FARAH, P.A. 401(K) SAVINGS PLAN

Name: FARAH & FARAH, P.A. - FARAH AND FARAH, P.A. 401(K) SAVINGS PLAN (2017) Form 5500
Creator: FARAH & FARAH, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FARAH AND FARAH, P.A. 401(K) SAVINGS PLAN, FARAH & FARAH, P.A.

FARAH & FARAH, P.A.EIN 59-2596163Plan #001PY 2017

10 WEST ADAMS STREET - JACKSONVILLE, FL 32202904-807-3149

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$9.1M

+27.1% from 2016

Total participants

267

+17.1% from 2016

Average account balance

$51,773

-9.0% from 2016

Annual return

17.20%

+9.37 pp from 2016

Benchmarks

See 5,160 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,160 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$22.35M

Not enough data

1 years with asset history on file

Average account balance

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

$76K

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.

293

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.

56.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.94M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+16.42%

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

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
J W COLE FINANCIAL INC2 years Filed as: JW COLE INS SERVICES INC Service code 10 · EIN 65-1040717 4301 ANCHOR PLAZA PKWY ST · TAMPA, FL 33634	Accounting	$26,466
MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years Filed as: MASSACHUSETTS MUTUAL LIFE INS CO Service code 52 · EIN 04-1590850 1295 STATE STREET · SPRINGFIELD, MA 01111	Indirect Investment Fees	$12,820
BDO USA, LLP1 year Service code 10 · EIN 13-5381590 501 RIVERSIDE AVE STE 800 · JACKSONVILLE, FL 32202	Accounting	$7,560
ENVESTNET RETIREMENT SOLUTIONS, LLC2 years Service code 27 · EIN 61-1732930 35 EAST WACKER DR STE 2400 · CHICAGO, IL 60601	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D

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).
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.
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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$6K

$26 / participant

Other / not subdivided$6K100.0%

% of EOY assets

0.070%

all-in expense ratio

Categories reported

0 / 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: PIVOT CPAS
Auditor EIN: 200708248
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$51,773

$80,753-35.9%

$136,297-62.0%

$62,293-16.9%

Participation rate

62.4%

73.5%-11.1pp

81.9%-19.5pp

69.5%-7.1pp

Annual return

17.20%

35.83%-18.6pp

5156.16%-5139.0pp

28.90%-11.7pp

Employer contribution / active EE

$1,468

$2,884-49.1%

$4,696-68.7%

$2,042-28.1%

Participant deferral / active EE

$2,448

$5,164-52.6%

$6,247-60.8%

$3,169-22.8%

Admin fee / account holder

$36

$525-93.1%

$9,244-99.6%

$479-92.4%

Provider

Service type

Compensation

J W COLE FINANCIAL INC2 years

Filed as: JW COLE INS SERVICES INC

Service code 10 · EIN 65-1040717

4301 ANCHOR PLAZA PKWY ST · TAMPA, FL 33634

Accounting

$26,466

MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years

Filed as: MASSACHUSETTS MUTUAL LIFE INS CO

Service code 52 · EIN 04-1590850

1295 STATE STREET · SPRINGFIELD, MA 01111

Indirect Investment Fees

$12,820

BDO USA, LLP1 year

Service code 10 · EIN 13-5381590

501 RIVERSIDE AVE STE 800 · JACKSONVILLE, FL 32202

Accounting

$7,560

ENVESTNET RETIREMENT SOLUTIONS, LLC2 years

Service code 27 · EIN 61-1732930

35 EAST WACKER DR STE 2400 · CHICAGO, IL 60601

Advisory (Plan)

FARAH AND FARAH, P.A. 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FARAH AND FARAH, P.A. 401(K) SAVINGS 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