Retirement plan

THE MORTGAGE FIRM, INC. 401(K) PLAN

Name: THE MORTGAGE FIRM, INC. - THE MORTGAGE FIRM, INC. 401(K) PLAN (2024) Form 5500
Creator: THE MORTGAGE FIRM, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE MORTGAGE FIRM, INC. 401(K) PLAN, THE MORTGAGE FIRM, INC.

THE MORTGAGE FIRM, INC.EIN 59-3345547Plan #001PY 2024

921 DOUGLAS AVENUE, SUITE 200 - ALTAMONTE SPRINGS, FL 32714407-539-3476themortgagefirm.comLinkedIn201-500 employeesfinancial services

Prospect flagsLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$31.2M

+14.7% from 2023

Total participants

438

-3.1% from 2023

Average account balance

$81,985

+25.2% from 2023

Annual return

19.31%

-2.67 pp from 2023

Benchmarks

See 1,548 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,548 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$31.15M

Not enough data

1 years with asset history on file

Average account balance

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

$82K

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.

380

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.

82.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.71M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+19.31%

Not enough data

1 years with return on file

Admin fee / account holder

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

$-124

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 1 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL2 years Filed as: FIDELITY WORKPLACE SERVICES LLC Service code 14 · EIN 04-3532603	Plan Administrator	-$47,053

Plan features & details

Pension benefit codes2F2G2J2T2E2S3D

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.

Opportunity flags

2 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

-$47K

$-144 / participant

Investment mgmt$220.0%

% of EOY assets

-0.151%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SAS ASSURANCE
Auditor EIN: 873925424
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$81,985

$129,159-36.5%

$184,243-55.5%

$77,714+5.5%

Participation rate

82.3%

87.4%-5.1pp

86.8%-4.6pp

70.6%+11.7pp

Annual return

19.31%

33.22%-13.9pp

28.82%-9.5pp

31.26%-11.9pp

Employer contribution / active EE

$4,410-100.0%

$6,427-100.0%

$2,727-100.0%

Participant deferral / active EE

$5,232

$7,305-28.4%

$9,132-42.7%

$4,649+12.5%

Admin fee / account holder

-$124

$256-148.4%

$13,914-100.9%

$433-128.6%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL2 years

Filed as: FIDELITY WORKPLACE SERVICES LLC

Service code 14 · EIN 04-3532603

Plan Administrator

-$47,053

THE MORTGAGE FIRM, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE MORTGAGE FIRM, INC. 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