Retirement plan

BRIDGES LAW FIRM EMPLOYEES' PROFIT SHARING PLAN

Name: BRIDGES, YOUNG, MATTHEWS & DRAKE PLC - BRIDGES LAW FIRM EMPLOYEES' PROFIT SHARING PLAN (2022) Form 5500
Creator: BRIDGES, YOUNG, MATTHEWS & DRAKE PLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BRIDGES LAW FIRM EMPLOYEES' PROFIT SHARING PLAN, BRIDGES, YOUNG, MATTHEWS & DRAKE PLC

BRIDGES, YOUNG, MATTHEWS & DRAKE PLCEIN 71-0258000Plan #002PY 2022

P.O. BOX 7808, 315 E. 8TH AVENUE - PINE BLUFF, AR 71611870-534-5532bridgesplc.comLinkedIn11-50 employeeslaw practice

Prospect flagsHigh feesHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$5.1M

-14.5% from 2021

Total participants

0.0% from 2021

Average account balance

$506,157

-14.5% from 2021

Annual return

-12.36%

-25.81 pp from 2021

Benchmarks

See 133,844 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort133,844 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.14M

Not enough data

1 years with asset history on file

Average account balance

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

$643K

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.

133.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$62K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+15.23%

Not enough data

1 years with return on file

Admin fee / account holder

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

$191606

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 codes2E2F2G2J2R3B3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$242K

$30295 / participant

Other / not subdivided$242K100.0%

% of EOY assets

4.788%

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

$506,157

$138,114+266.5%

$125,391+303.7%

$134,545+276.2%

Participation rate

100.0%

84.5%+15.5pp

82.4%+17.6pp

81.2%+18.8pp

Annual return

-12.36%

750.88%-763.2pp

572.41%-584.8pp

418.37%-430.7pp

Employer contribution / active EE

$1,136

$5,246-78.3%

$4,816-76.4%

$4,742-76.0%

Participant deferral / active EE

$9,022

$7,801+15.7%

$7,448+21.1%

$6,401+40.9%

Admin fee / account holder

$24,236

$11,570+109.5%

$10,009+142.2%

$11,431+112.0%

BRIDGES LAW FIRM EMPLOYEES' PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BRIDGES LAW FIRM EMPLOYEES' 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