Retirement plan

GRAYSON & ASSOCIATES, P.C. 401(K) PROFIT SHARING PLAN

Name: GRAYSON & ASSOCIATES, P.C. - GRAYSON & ASSOCIATES, P.C. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: GRAYSON & ASSOCIATES, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GRAYSON & ASSOCIATES, P.C. 401(K) PROFIT SHARING PLAN, GRAYSON & ASSOCIATES, P.C.

GRAYSON & ASSOCIATES, P.C.EIN 63-0917523Plan #002PY 2023

400 VESTAVIA PARKWAY, SUITE 221 - VESTAVIA HILLS, AL 352163570205-871-6926LinkedIn51-200 employees

Prospect flagsLow returnsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$24M

+15.7% from 2022

Total participants

169

+1.8% from 2022

Average account balance

$165,394

+13.3% from 2022

Annual return

12.53%

+21.86 pp from 2022

Benchmarks

See 5,703 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,703 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$24.67M

Not enough data

1 years with asset history on file

Average account balance

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

$168K

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.

147

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

$1.44M

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

+10.99%

Not enough data

1 years with return on file

Admin fee / account holder

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

$306

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 5 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE CO OF AME Service code 64 · EIN 84-2953346 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$19,729
CULOTTA SCROGGINS HENDRICKS & GILLE1 year Service code 10 · EIN 20-3346361 3049 MASSEY RD · VESTAVIA HILLS, AL 35216	Accounting	$15,000
APRIO LLP1 year Service code 10 · EIN 57-1157523 5 CONCOURSE PKWY STE 1000 · ATLANTA, GA 30328	Accounting	$11,204
PEARCE BEVILL LEESBURG MOORE PC5 years Service code 13 · EIN 63-0813240 110 OFFICE PARK DRIVE,SUITE 100 · BIRMINGHAM, AL 35223	Contract Administrator	$0
RAYMOND JAMES FINANCIAL SERVICES4 years Filed as: RAYMOND JAMES INSURANCE GROUP INC Service code 53 · EIN 59-1199408 880 CARILLON PKWY · ST PETERSBURG, FL 33716	Insurance Commissions	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$45K

$429 / participant

Investment mgmt$45K100.0%

% of EOY assets

0.190%

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: APRIO LLP
Auditor EIN: 571157523
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$165,394

$61,391+169.4%

$149,723+10.5%

$71,529+131.2%

Participation rate

77.4%

62.5%+14.8pp

78.8%-1.4pp

67.9%+9.4pp

Annual return

12.53%

35.88%-23.3pp

134.50%-122.0pp

28.97%-16.4pp

Employer contribution / active EE

$7,018

$2,384+194.4%

$4,821+45.6%

$2,590+171.0%

Participant deferral / active EE

$5,652

$2,921+93.5%

$5,682-0.5%

$4,291+31.7%

Admin fee / account holder

$313

$1,264-75.2%

$13,215-97.6%

$1,588-80.3%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE CO OF AME

Service code 64 · EIN 84-2953346

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$19,729

CULOTTA SCROGGINS HENDRICKS & GILLE1 year

Service code 10 · EIN 20-3346361

3049 MASSEY RD · VESTAVIA HILLS, AL 35216

Accounting

$15,000

APRIO LLP1 year

Service code 10 · EIN 57-1157523

5 CONCOURSE PKWY STE 1000 · ATLANTA, GA 30328

Accounting

$11,204

PEARCE BEVILL LEESBURG MOORE PC5 years

Service code 13 · EIN 63-0813240

110 OFFICE PARK DRIVE,SUITE 100 · BIRMINGHAM, AL 35223

Contract Administrator

RAYMOND JAMES FINANCIAL SERVICES4 years

Filed as: RAYMOND JAMES INSURANCE GROUP INC

Service code 53 · EIN 59-1199408

880 CARILLON PKWY · ST PETERSBURG, FL 33716

Insurance Commissions

GRAYSON & ASSOCIATES, P.C. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GRAYSON & ASSOCIATES, P.C. 401(K) 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