Retirement plan

SIROTE & PERMUTT, P.C. PROFIT SHARING 401(K) PLAN

Name: SIROTE & PERMUTT, P.C. - SIROTE & PERMUTT, P.C. PROFIT SHARING 401(K) PLAN (2020) Form 5500
Creator: SIROTE & PERMUTT, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SIROTE & PERMUTT, P.C. PROFIT SHARING 401(K) PLAN, SIROTE & PERMUTT, P.C.

SIROTE & PERMUTT, P.C.EIN 63-0649626Plan #002PY 2020

2311 HIGHLAND AVENUE SOUTH - BIRMINGHAM, AL 35205205-930-5100sirote.comLinkedIn51-200 employeeslaw practice

Prospect flagsHigh retiree %Low returnsHigh fees

Top hat statement on fileNQDC

Filed December 9, 1998 (most recent of 2 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$115.4M

-0.5% from 2019

Total participants

525

+2.7% from 2019

Average account balance

$220,171

-2.9% from 2019

Annual return

6.14%

-11.37 pp from 2019

Benchmarks

See 5,591 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,591 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$113.68M

Not enough data

1 years with asset history on file

Average account balance

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

$221K

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.

515

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.18M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$22K

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

+11.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$747

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

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH6+ years Filed as: MERRILL LYNCH Service code 19 420 N 20TH ST SUITE 2600 · BIRMINGHAM, AL 35203	Securities Custodian	$64,429
MORGAN STANLEY SMITH BARNEY6+ years Service code 19 · EIN 20-8764829	Securities Custodian	$38,950
TD AMERITRADE, INC.1 year Filed as: TD AMERITRADE TRUST COMPANY Service code 19 · EIN 20-0937408	Securities Custodian	$28,028
BAIRD FUNDS1 year Filed as: ROBERT W. BAIRD & CO INCORPORATED Service code 19 777 EAST WISCONSIN AVENUE · MILWAUKEE, WI 532025391	Securities Custodian	$23,095
MATRIX TRUST COMPANY1 year Service code 18 · EIN 75-3182674	Trustee (directed); Trustee (bank, tr...	$16,323
MORGAN STANLEY SMITH BARNEY1 year Filed as: MORGAN STNALEY SMITH BARNEY Service code 49	Other Services	$0

Plan features & details

Pension benefit codes2A2E2G2J2R3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
2E
Profit-sharing
Profit-sharing plan.
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.
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

3 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.
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$177K

$1062 / participant

Investment mgmt$177K100.0%

% of EOY assets

0.154%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: DIPIAZZA LAROCCA HEETER & CO, LLC
Auditor EIN: 263731278
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$220,171

$99,957+120.3%

$149,745+47.0%

$73,497+199.6%

Participation rate

99.4%

75.7%+23.7pp

82.5%+16.9pp

70.7%+28.7pp

Annual return

6.14%

53.87%-47.7pp

276.72%-270.6pp

28.51%-22.4pp

Employer contribution / active EE

$11,139

$3,191+249.1%

$4,646+139.8%

$2,270+390.7%

Participant deferral / active EE

$7,535

$6,073+24.1%

$6,843+10.1%

$3,740+101.5%

Admin fee / account holder

$338

$551-38.5%

$9,312-96.4%

$513-34.0%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH6+ years

Filed as: MERRILL LYNCH

Service code 19

420 N 20TH ST SUITE 2600 · BIRMINGHAM, AL 35203

Securities Custodian

$64,429

MORGAN STANLEY SMITH BARNEY6+ years

Service code 19 · EIN 20-8764829

Securities Custodian

$38,950

TD AMERITRADE, INC.1 year

Filed as: TD AMERITRADE TRUST COMPANY

Service code 19 · EIN 20-0937408

Securities Custodian

$28,028

BAIRD FUNDS1 year

Filed as: ROBERT W. BAIRD & CO INCORPORATED

Service code 19

777 EAST WISCONSIN AVENUE · MILWAUKEE, WI 532025391

Securities Custodian

$23,095

MATRIX TRUST COMPANY1 year

Service code 18 · EIN 75-3182674

Trustee (directed); Trustee (bank, tr...

$16,323

MORGAN STANLEY SMITH BARNEY1 year

Filed as: MORGAN STNALEY SMITH BARNEY

Service code 49

Other Services

SIROTE & PERMUTT, P.C. PROFIT SHARING 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SIROTE & PERMUTT, P.C. PROFIT SHARING 401(K) PLAN

Top hat statement on fileNQDC

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