Retirement plan

LAW OFFICES OF RICHARD W. NORRIS, P.A. EMPLOYEES' RETIREMENT PLAN

Name: LAW OFFICES OF RICHARD W. NORRIS, P.A. - LAW OFFICES OF RICHARD W. NORRIS, P.A. EMPLOYEES' RETIREMENT PLAN (2024) Form 5500
Creator: LAW OFFICES OF RICHARD W. NORRIS, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LAW OFFICES OF RICHARD W. NORRIS, P.A. EMPLOYEES' RETIREMENT PLAN, LAW OFFICES OF RICHARD W. NORRIS, P.A.

LAW OFFICES OF RICHARD W. NORRIS, P.A.EIN 59-3217951Plan #001PY 2024

7651 ASHLEY PARK COURT, SUITE 402A - ORLANDO, FL 32835407-294-4100

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$2.6M

+14.3% from 2023

Total participants

+2.3% from 2023

Average account balance

$57,770

+11.7% from 2023

Annual return

8.65%

+0.78 pp from 2023

Benchmarks

See 4,147 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants25-99

Cohort4,147 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.60M

Not enough data

1 years with asset history on file

Average account balance

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

$58K

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.

136.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$204K

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

+8.65%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2017

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 codes2E2G2J2R3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

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.

Expense breakdown

Schedule H Part II

Admin total

$91K

$2750 / participant

Other / not subdivided$91K100.0%

% of EOY assets

3.491%

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

$57,770

$78,015-26.0%

$178,505-67.6%

$80,959-28.6%

Participation rate

100.0%

65.7%+34.3pp

77.1%+22.9pp

67.7%+32.3pp

Annual return

8.65%

18.10%-9.5pp

27.16%-18.5pp

35.67%-27.0pp

Employer contribution / active EE

$1,882

$2,281-17.5%

$3,955-52.4%

$2,757-31.8%

Participant deferral / active EE

$4,288

$4,406-2.7%

$6,280-31.7%

$4,300-0.3%

Admin fee / account holder

$2,017

$7,160-71.8%

$10,428-80.7%

$6,925-70.9%

LAW OFFICES OF RICHARD W. NORRIS, P.A. EMPLOYEES' RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LAW OFFICES OF RICHARD W. NORRIS, P.A. EMPLOYEES' RETIREMENT 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