Retirement plan

VOLK LAW OFFICES, P.A. 401(K) PLAN

Name: VOLK LAW OFFICES, P.A. - VOLK LAW OFFICES, P.A. 401(K) PLAN (2022) Form 5500
Creator: VOLK LAW OFFICES, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VOLK LAW OFFICES, P.A. 401(K) PLAN, VOLK LAW OFFICES, P.A.

VOLK LAW OFFICES, P.A.EIN 59-3293571Plan #001PY 2022

1901 S. HARBOR CITY BLVD., STE 700 - MELBOURNE, FL 32901321-726-8338volklawoffices.comLinkedIn11-50 employeeslegal services

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$1.2M

-16.1% from 2021

Total participants

+14.3% from 2021

Average account balance

$147,466

-37.1% from 2021

Annual return

-21.89%

-36.21 pp from 2021

Benchmarks

See 9,016 peers

Peer group

Industry45 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort9,016 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.22M

Not enough data

1 years with asset history on file

Average account balance

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

$171K

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.

185.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$101K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+15.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$313

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 codes2E3D2G2J2F2T

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.
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

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

$12K

$2427 / participant

Other / not subdivided$12K100.0%

% of EOY assets

1.029%

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

$147,466

$106,551+38.4%

$91,225+61.7%

$134,532+9.6%

Participation rate

100.0%

76.8%+23.2pp

73.2%+26.8pp

81.2%+18.8pp

Annual return

-21.89%

160.78%-182.7pp

114.12%-136.0pp

418.27%-440.2pp

Employer contribution / active EE

$3,266

$3,331-2.0%

$2,851+14.6%

$4,741-31.1%

Participant deferral / active EE

$14,671

$4,718+210.9%

$4,233+246.6%

$6,401+129.2%

Admin fee / account holder

$1,517

$6,234-75.7%

$5,422-72.0%

$11,429-86.7%

VOLK LAW OFFICES, P.A. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VOLK LAW OFFICES, P.A. 401(K) 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