Retirement plan

PHELAN PHELAN AND DANEK LLP 401K PSP

Name: PHELAN PHELAN AND DANEK LLP - PHELAN PHELAN AND DANEK LLP 401K PSP (2020) Form 5500
Creator: PHELAN PHELAN AND DANEK LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PHELAN PHELAN AND DANEK LLP 401K PSP, PHELAN PHELAN AND DANEK LLP

PHELAN PHELAN AND DANEK LLPEIN 59-3787874Plan #001PY 2020

300 GREAT OAKS BLVD STE 315 - ALBANY, NY 12203518-640-6900ppdlawoffice.comLinkedIn11-50 employeeslaw practice

Other plans on this EIN

1 filing

#002Retirement-$517K assets

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.3M

+29.4% from 2019

Total participants

+5.9% from 2019

Average account balance

$73,179

+15.0% from 2019

Annual return

16.33%

+13.18 pp from 2019

Benchmarks

See 120,756 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort120,756 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.49M

Not enough data

1 years with asset history on file

Average account balance

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

$146K

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.

113.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$255K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+17.67%

Not enough data

1 years with return on file

Admin fee / account holder

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

$11765

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 codes2F2G2T3D2E2J2R

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$78K

$5564 / participant

Other / not subdivided$78K100.0%

% of EOY assets

5.914%

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

$73,179

$165,381-55.8%

$149,730-51.1%

$158,966-54.0%

Participation rate

100.0%

84.6%+15.4pp

82.5%+17.5pp

82.0%+18.0pp

Annual return

16.33%

348.29%-332.0pp

276.70%-260.4pp

302.95%-286.6pp

Employer contribution / active EE

$7,658

$5,104+50.0%

$4,645+64.9%

$4,762+60.8%

Participant deferral / active EE

$7,285

$7,182+1.4%

$6,843+6.5%

$5,983+21.8%

Admin fee / account holder

$4,327

$10,809-60.0%

$9,310-53.5%

$11,250-61.5%

PHELAN PHELAN AND DANEK LLP 401K PSP

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PHELAN PHELAN AND DANEK LLP 401K PSP

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