Retirement plan

THE MORTGAGE FIRM, INC. 401(K) PLAN

Name: THE MORTGAGE FIRM, INC. - THE MORTGAGE FIRM, INC. 401(K) PLAN (2020) 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 2020

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

Prospect flagsLow assets / participantLow employer contribution

How to read this page

Total assets (EOY)

$20.6M

+41.7% from 2019

Total participants

633

+25.8% from 2019

Average account balance

$39,830

+8.4% from 2019

Annual return

27.78%

-3.88 pp from 2019

Benchmarks

See 1,455 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,455 peers

Snapshot2020

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

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 codes2F2G2J2T3D

Plan features

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

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$17K

$30 / participant

Other / not subdivided$17K100.0%

% of EOY assets

0.082%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CARON & BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$39,830

$111,608-64.3%

$177,848-77.6%

$73,412-45.7%

Participation rate

79.8%

87.9%-8.1pp

87.7%-7.9pp

72.2%+7.6pp

Annual return

27.78%

18.23%+9.5pp

48.33%-20.6pp

59.30%-31.5pp

Employer contribution / active EE

$1,131

$3,796-70.2%

$5,919-80.9%

$2,234-49.4%

Participant deferral / active EE

$5,484

$6,199-11.5%

$7,714-28.9%

$3,806+44.1%

Admin fee / account holder

$33

$166-80.2%

$12,431-99.7%

$158-79.2%

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