Retirement plan

ADAM D. PALMER, PA 401(K) PLAN

Name: ADAM D. PALMER, PA - ADAM D. PALMER, PA 401(K) PLAN (2024) Form 5500
Creator: ADAM D. PALMER, PA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ADAM D. PALMER, PA 401(K) PLAN, ADAM D. PALMER, PA

ADAM D. PALMER, PAEIN 65-0509894Plan #001PY 2024

2295 NW CORPORATE BOULEVARD, SUITE 117 - BOCA RATON, FL 33431561-394-5602floridainvestmentlawyer.comLinkedIn1-10 employees

Prospect flagsLow returnsLow fidelity bond

How to read this page

Total assets (EOY)

$319K

+32.9% from 2023

Total participants

0.0% from 2023

Average account balance

$159,299

+32.9% from 2023

Annual return

8.10%

+2.03 pp from 2023

Benchmarks

See 143,921 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort143,921 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$319K

Not enough data

1 years with asset history on file

Average account balance

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

$159K

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.

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

$60K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$30K

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

+8.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2G2J3D

Plan features

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.
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

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$1 / participant

Other / not subdivided$1100.0%

% of EOY assets

0.000%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$159,299

$159,978-0.4%

$147,041+8.3%

$145,978+9.1%

Participation rate

100.0%

84.0%+16.0pp

82.2%+17.8pp

80.3%+19.7pp

Annual return

8.10%

98.36%-90.3pp

419.21%-411.1pp

550.52%-542.4pp

Employer contribution / active EE

$19,043

$5,288+260.1%

$4,935+285.9%

$4,662+308.5%

Participant deferral / active EE

$10,725

$8,429+27.2%

$8,071+32.9%

$6,690+60.3%

Admin fee / account holder

$15,053-100.0%

$13,006-100.0%

$13,400-100.0%

ADAM D. PALMER, PA 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ADAM D. PALMER, PA 401(K) 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