Retirement plan

SCHWARTZ & ASSOCIATES, P.A. 401(K) SALARY SAVINGS PLAN

Name: SCHWARTZ & ASSOCIATES, P. A. - SCHWARTZ & ASSOCIATES, P.A. 401(K) SALARY SAVINGS PLAN (2024) Form 5500
Creator: SCHWARTZ & ASSOCIATES, P. A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SCHWARTZ & ASSOCIATES, P.A. 401(K) SALARY SAVINGS PLAN, SCHWARTZ & ASSOCIATES, P. A.

SCHWARTZ & ASSOCIATES, P. A.EIN 64-0854447Plan #001PY 2024

162 EAST AMITE STREET - JACKSON, MS 39201601-353-1215LinkedIn1-10 employees

Prospect flagsLow returnsHigh feesLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$9M

+13.7% from 2023

Total participants

151

-10.1% from 2023

Average account balance

$67,270

+41.8% from 2023

Annual return

11.37%

-4.19 pp from 2023

Benchmarks

See 6,297 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,297 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$9.01M

Not enough data

1 years with asset history on file

Average account balance

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

$67K

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.

134

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.

85.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$745K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+11.37%

Not enough data

1 years with return on file

Admin fee / account holder

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

$413

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 4 by compensation

Provider	Service type	Compensation
PINNACLE INSURANCE AGENCY9 years Service code 16 · EIN 64-0936752	Consulting	$25,586
AMERICAN UNITED LIFE INSURANCE CO10+ years Service code 15 · EIN 35-0145825	Recordkeeping	$21,464
SHERIDAN ROAD ADVISORS LLC6 years Filed as: HUB INTERNATIONAL GULF SOUTH Service code 13 · EIN 35-0672425	Contract Administrator	$13,960
MATTHEWS CUTRER & LINDSAY, P.A.4 years Service code 10 · EIN 64-0897081	Accounting	$11,500

Plan features & details

Pension benefit codes2A2E2F2G2J2T3D3F3H

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.
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.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

4 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$55K

$485 / participant

Recordkeeping$4K7.7%
Investment mgmt$26K46.3%
Contract admin$14K25.2%
Other / not subdivided$12K20.8%

% of EOY assets

0.614%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: MATTHEWS CUTRER AND LINDSAY, P.A.
Auditor EIN: 640897081
Audit fees: $11,500
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$67,270

$101,317-33.6%

$146,958-54.2%

$74,495-9.7%

Participation rate

85.1%

75.5%+9.6pp

82.2%+2.9pp

67.2%+17.9pp

Annual return

11.37%

8730.91%-8719.5pp

418.34%-407.0pp

1364.94%-1353.6pp

Employer contribution / active EE

$4,380

$3,810+15.0%

$4,933-11.2%

$2,623+67.0%

Participant deferral / active EE

$2,152

$7,303-70.5%

$8,070-73.3%

$4,346-50.5%

Admin fee / account holder

$413

$1,739-76.3%

$12,998-96.8%

$1,942-78.7%

Provider

Service type

Compensation

PINNACLE INSURANCE AGENCY9 years

Service code 16 · EIN 64-0936752

Consulting

$25,586

AMERICAN UNITED LIFE INSURANCE CO10+ years

Service code 15 · EIN 35-0145825

Recordkeeping

$21,464

SHERIDAN ROAD ADVISORS LLC6 years

Filed as: HUB INTERNATIONAL GULF SOUTH

Service code 13 · EIN 35-0672425

Contract Administrator

$13,960

MATTHEWS CUTRER & LINDSAY, P.A.4 years

Service code 10 · EIN 64-0897081

Accounting

$11,500

SCHWARTZ & ASSOCIATES, P.A. 401(K) SALARY SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SCHWARTZ & ASSOCIATES, P.A. 401(K) SALARY SAVINGS 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