Retirement plan

CHOICE MORTGAGE RETIREMENT PLAN

Name: CHOICE MORTGAGE, INC. - CHOICE MORTGAGE RETIREMENT PLAN (2023) Form 5500
Creator: CHOICE MORTGAGE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHOICE MORTGAGE RETIREMENT PLAN, CHOICE MORTGAGE, INC.

CHOICE MORTGAGE, INC.EIN 65-0689516Plan #001PY 2023

40 SE FIFTH ST., #502 - BOCA RATON, FL 33432561-441-2730choicemortgageinc.comLinkedIn11-50 employeesfinancial services

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$215K

+65.5% from 2022

Total participants

-50.0% from 2022

Average account balance

$214,959

+231.1% from 2022

Annual return

21.08%

-17561.21 pp from 2022

Benchmarks

See 19,279 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants<25

Cohort19,279 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$362K

Not enough data

1 years with asset history on file

Average account balance

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

$362K

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

$80K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$80K

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

+31.15%

Not enough data

1 years with return on file

Admin fee / account holder

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

$7705

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 codes2E2J2F2G3D

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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$7K

$6864 / participant

Other / not subdivided$7K100.0%

% of EOY assets

3.193%

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

$214,959

$202,440+6.2%

$169,390+26.9%

$139,466+54.1%

Participation rate

100.0%

81.1%+18.9pp

77.2%+22.8pp

80.3%+19.7pp

Annual return

21.08%

532.36%-511.3pp

406.07%-385.0pp

373.66%-352.6pp

Employer contribution / active EE

$4,693-100.0%

$4,013-100.0%

$4,754-100.0%

Participant deferral / active EE

$60,652

$6,940+773.9%

$6,222+874.7%

$6,712+803.6%

Admin fee / account holder

$6,864

$10,722-36.0%

$9,015-23.9%

$11,409-39.8%

CHOICE MORTGAGE RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHOICE MORTGAGE RETIREMENT 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