Retirement plan

BURR & FORMAN LLP PROFIT SHARING PLAN

Name: BURR & FORMAN LLP - BURR & FORMAN LLP PROFIT SHARING PLAN (2023) Form 5500
Creator: BURR & FORMAN LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BURR & FORMAN LLP PROFIT SHARING PLAN, BURR & FORMAN LLP

BURR & FORMAN LLPEIN 63-0322727Plan #001PY 2023

420 NORTH 20TH ST SUITE 3400 - BIRMINGHAM, AL 35203205-251-3000burr.comLinkedIn201-500 employeeslaw practice

Other plans on this EIN

2 filings

#004Retirement-$13.2M assets #003Retirement-$4.6M assets

Prospect flagsHigh assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$341.3M

-10.0% from 2016

Total participants

894

-18.8% from 2016

Average account balance

$430,353

-6.4% from 2016

Annual return

22.65%

-8.81 pp from 2016

Benchmarks

See 3,230 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,230 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$399.40M

Not enough data

1 years with asset history on file

Average account balance

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

$501K

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.

798

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.

98.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$17.46M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$29K

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

+18.12%

Not enough data

1 years with return on file

Admin fee / account holder

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

$217

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 2 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$129,566
CAPFINANCIAL PARTNERS LLC1 year Filed as: CAPFINANCIAL PARTNERS LLC DBA CAPTR Service code 27 4208 SIX FORKS RD STE 1700 · RALEIGH, NC 27609	Advisory (Plan)	$93,911

Plan features & details

Pension benefit codes2E2F2G2J2R2T3B3D

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$176K

$291 / participant

Other / not subdivided$176K100.0%

% of EOY assets

0.052%

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: KASSOUF & CO
Auditor EIN: 650590670
Audit fees: $176,380
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$430,353

$95,438+350.9%

$135,998+216.4%

$74,478+477.8%

Participation rate

83.3%

78.2%+5.1pp

81.9%+1.4pp

70.7%+12.6pp

Annual return

22.65%

32.61%-10.0pp

68.37%-45.7pp

34.37%-11.7pp

Employer contribution / active EE

$16,459

$3,878+324.4%

$4,860+238.7%

$2,637+524.2%

Participant deferral / active EE

$11,556

$7,790+48.3%

$7,761+48.9%

$4,530+155.1%

Admin fee / account holder

$222

$259-14.1%

$10,769-97.9%

$347-35.9%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$129,566

CAPFINANCIAL PARTNERS LLC1 year

Filed as: CAPFINANCIAL PARTNERS LLC DBA CAPTR

Service code 27

4208 SIX FORKS RD STE 1700 · RALEIGH, NC 27609

Advisory (Plan)

$93,911

BURR & FORMAN LLP PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BURR & FORMAN LLP PROFIT SHARING 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