Retirement plan

WADE, PALMER & SHOEMAKER, P.A. 401(K) PLAN

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

WADE, PALMER & SHOEMAKER, P.A.EIN 59-3467674Plan #001PY 2022

14 N. PALAFOX STREET - PENSACOLA, FL 32502850-429-0755wpslawyers.comLinkedIn11-50 employeeslaw practice

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2.4M

-25.4% from 2021

Total participants

+4.5% from 2021

Average account balance

$114,476

-25.4% from 2021

Annual return

-18.72%

-33.19 pp from 2021

Benchmarks

See 133,909 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort133,909 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.51M

Not enough data

1 years with asset history on file

Average account balance

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

$167K

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.

214.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$84K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+15.96%

Not enough data

1 years with return on file

Admin fee / account holder

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

$11700

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 codes2E2F2G2J3D

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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$362K

$40227 / participant

Other / not subdivided$362K100.0%

% of EOY assets

15.060%

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

$114,476

$138,078-17.1%

$125,363-8.7%

$134,509-14.9%

Participation rate

77.8%

84.5%-6.7pp

82.4%-4.6pp

81.2%-3.5pp

Annual return

-18.72%

750.49%-769.2pp

572.15%-590.9pp

418.13%-436.9pp

Employer contribution / active EE

$4,150

$5,245-20.9%

$4,815-13.8%

$4,741-12.5%

Participant deferral / active EE

$9,424

$7,800+20.8%

$7,447+26.5%

$6,400+47.2%

Admin fee / account holder

$17,240

$11,566+49.1%

$10,005+72.3%

$11,427+50.9%

WADE, PALMER & SHOEMAKER, P.A. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WADE, PALMER & SHOEMAKER, 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