Retirement plan

HANNA, LEMAR & MORRIS, CPA'S, P. A. 401(K) PLAN

Name: HANNA, LEMAR & MORRIS, CPA'S, P.A. - HANNA, LEMAR & MORRIS, CPA'S, P. A. 401(K) PLAN (2024) Form 5500
Creator: HANNA, LEMAR & MORRIS, CPA'S, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HANNA, LEMAR & MORRIS, CPA'S, P. A. 401(K) PLAN, HANNA, LEMAR & MORRIS, CPA'S, P.A.

HANNA, LEMAR & MORRIS, CPA'S, P.A.EIN 59-3468220Plan #002PY 2024

6508 EAST FOWLER AVENUE - TAMPA, FL 33617813-985-1148virtualcpaoffice.comLinkedIn11-50 employees

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$2.5M

+9.7% from 2023

Total participants

+8.3% from 2023

Average account balance

$191,004

+1.2% from 2023

Annual return

5.88%

-3.02 pp from 2023

Benchmarks

See 143,415 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort143,415 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.48M

Not enough data

1 years with asset history on file

Average account balance

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

$191K

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.

130.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$111K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+5.88%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3737

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

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

$49K

$4858 / participant

Other / not subdivided$49K100.0%

% of EOY assets

1.957%

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

$191,004

$160,070+19.3%

$147,117+29.8%

$145,897+30.9%

Participation rate

100.0%

84.0%+16.0pp

82.2%+17.8pp

80.3%+19.7pp

Annual return

5.88%

98.69%-92.8pp

420.54%-414.7pp

552.29%-546.4pp

Employer contribution / active EE

$2,472

$5,285-53.2%

$4,932-49.9%

$4,663-47.0%

Participant deferral / active EE

$8,638

$8,419+2.6%

$8,065+7.1%

$6,689+29.1%

Admin fee / account holder

$3,737

$15,035-75.1%

$12,993-71.2%

$13,390-72.1%

HANNA, LEMAR & MORRIS, CPA'S, P. A. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HANNA, LEMAR & MORRIS, CPA'S, 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