Retirement plan

KELLEY KRONENBERG 401(K) PROFIT SHARING PLAN

Name: KELLEY KRONENBERG, P.A. - KELLEY KRONENBERG 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: KELLEY KRONENBERG, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KELLEY KRONENBERG 401(K) PROFIT SHARING PLAN, KELLEY KRONENBERG, P.A.

KELLEY KRONENBERG, P.A.EIN 65-0378773Plan #003PY 2022

PO BOX 15730 - FORT LAUDERDALE, FL 33324954-370-9970kelleykronenberg.comLinkedIn501-1000 employeeslaw practice

Prospect flagsHigh feesLow participationLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$12.8M

-16.3% from 2021

Total participants

372

+17.0% from 2021

Average account balance

$59,745

-23.3% from 2021

Annual return

-14.88%

-30.76 pp from 2021

Benchmarks

See 3,162 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,162 peers

Snapshot2022

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$20.09M

Not enough data

1 years with asset history on file

Average account balance

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

$65K

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.

308

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.

60.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.80M

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

+15.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$246

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Service providers

Top 5 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.4 years Filed as: MASSACHUETTS MUTUAL LIFE INS. COMP Service code 62 · EIN 04-1590850	Recordkeeping fees; Float revenue	$48,161
UBS FINANCIAL SERVICES INC5 years Filed as: UBS FINANCIAL SERVICES, INC. Service code 27 · EIN 13-2638166	Advisory (Plan)	$21,387
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$8,478
MORGAN STANLEY SMITH BARNEY1 year Filed as: MORGAN STANLEY SMITH BARNEY LLC Service code 27 · EIN 20-8764829	Advisory (Plan)	$5,225
SOUTHERN PENSION SERVICES7 years Service code 13 · EIN 59-3461974 2707 W AZEELEE STREET SUITE 200 · TAMPA, FL 33609	Contract Administrator	$2,859

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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer 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.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$84K

$260 / participant

Other / not subdivided$84K100.0%

% of EOY assets

0.654%

all-in expense ratio

Categories reported

0 / 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: BDO USA, P.C.
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$59,745

$82,202-27.3%

$125,339-52.3%

$64,808-7.8%

Participation rate

50.9%

77.9%-26.9pp

82.4%-31.4pp

71.5%-20.5pp

Annual return

-14.88%

3.48%-18.4pp

572.05%-586.9pp

32.82%-47.7pp

Employer contribution / active EE

$737

$3,615-79.6%

$4,814-84.7%

$2,506-70.6%

Participant deferral / active EE

$4,528

$7,175-36.9%

$7,446-39.2%

$4,310+5.1%

Admin fee / account holder

$391

$163+139.3%

$10,010-96.1%

$188+108.1%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.4 years

Filed as: MASSACHUETTS MUTUAL LIFE INS. COMP

Service code 62 · EIN 04-1590850

Recordkeeping fees; Float revenue

$48,161

UBS FINANCIAL SERVICES INC5 years

Filed as: UBS FINANCIAL SERVICES, INC.

Service code 27 · EIN 13-2638166

Advisory (Plan)

$21,387

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$8,478

MORGAN STANLEY SMITH BARNEY1 year

Filed as: MORGAN STANLEY SMITH BARNEY LLC

Service code 27 · EIN 20-8764829

Advisory (Plan)

$5,225

SOUTHERN PENSION SERVICES7 years

Service code 13 · EIN 59-3461974

2707 W AZEELEE STREET SUITE 200 · TAMPA, FL 33609

Contract Administrator

$2,859

KELLEY KRONENBERG 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KELLEY KRONENBERG 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