Retirement plan

MORGAN & MORGAN PA 401(K) PROFIT SHARING PLAN & TRUST

Name: MORGAN & MORGAN PA - MORGAN & MORGAN PA 401(K) PROFIT SHARING PLAN & TRUST (2020) Form 5500
Creator: MORGAN & MORGAN PA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MORGAN & MORGAN PA 401(K) PROFIT SHARING PLAN & TRUST, MORGAN & MORGAN PA

MORGAN & MORGAN PAEIN 59-2920684Plan #001PY 2020

16TH FLOOR 20 NORTH ORANGE AVE - ORLANDO, FL 32801407-420-1414forthepeople.comLinkedIn1001-5000 employeeslegal services

Prospect flagsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$109.4M

+23.3% from 2019

Total participants

3,305

+19.3% from 2019

Average account balance

$35,033

-0.1% from 2019

Annual return

15.29%

-9.06 pp from 2019

Benchmarks

See 755 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort755 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$192.75M

Not enough data

1 years with asset history on file

Average account balance

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

$38K

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.

5,031

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.

90.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$27.37M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+18.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

$72

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
EPIC RETIREMENT PLAN SERVICES3 years Filed as: SFG RETIREMENT PLAN CONSULTING Service code 13 225 S. LAKE AVENUE #600 · PASADENA, CA 91101	Contract Administrator	$70,000
PAYCHEX, INC.6+ years Service code 13 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625	Contract Administrator	$50,793
401K GENERATION3 years Filed as: 401K GENERATION INC. Service code 13 195 INTERNATIONAL PARKWAY · LAKE MARY, FL 32746	Contract Administrator	$45,659
401K GENERATION3 years Service code 13 · EIN 26-4477125 195 INTERNATIONAL PARKWAY · LAKE MARY, FL 32746	Contract Administrator	$27,093

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3H

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.
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.
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

2 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$194K

$76 / participant

Investment mgmt$116K59.5%
Contract admin$79K40.5%

% of EOY assets

0.178%

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: VESTAL & WILER, CPAS
Auditor EIN: 593198021
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$35,033

$127,481-72.5%

$149,730-76.6%

$90,274-61.2%

Participation rate

93.0%

78.2%+14.7pp

82.5%+10.5pp

73.4%+19.6pp

Annual return

15.29%

57.78%-42.5pp

276.70%-261.4pp

53.97%-38.7pp

Employer contribution / active EE

$711

$3,448-79.4%

$4,645-84.7%

$2,523-71.8%

Participant deferral / active EE

$4,208

$6,975-39.7%

$6,843-38.5%

$4,231-0.5%

Admin fee / account holder

$62

$152-59.0%

$9,310-99.3%

$114-45.5%

Provider

Service type

Compensation

EPIC RETIREMENT PLAN SERVICES3 years

Filed as: SFG RETIREMENT PLAN CONSULTING

Service code 13

225 S. LAKE AVENUE #600 · PASADENA, CA 91101

Contract Administrator

$70,000

PAYCHEX, INC.6+ years

Service code 13 · EIN 16-1124166

911 PANORAMA TRAIL S · ROCHESTER, NY 14625

Contract Administrator

$50,793

401K GENERATION3 years

Filed as: 401K GENERATION INC.

Service code 13

195 INTERNATIONAL PARKWAY · LAKE MARY, FL 32746

Contract Administrator

$45,659

401K GENERATION3 years

Service code 13 · EIN 26-4477125

195 INTERNATIONAL PARKWAY · LAKE MARY, FL 32746

Contract Administrator

$27,093

MORGAN & MORGAN PA 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MORGAN & MORGAN PA 401(K) PROFIT SHARING PLAN & TRUST

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