Retirement plan

THE BLUM FIRM, PC 401(K) PLAN

Name: THE BLUM FIRM, P.C. - THE BLUM FIRM, PC 401(K) PLAN (2023) Form 5500
Creator: THE BLUM FIRM, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE BLUM FIRM, PC 401(K) PLAN, THE BLUM FIRM, P.C.

THE BLUM FIRM, P.C.EIN 75-1765077Plan #001PY 2023

777 MAIN STREET, SUITE 550 - FORT WORTH, TX 76102817-334-0066theblumfirm.comLinkedIn51-200 employeeslaw practice

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$4.7M

+27.4% from 2022

Total participants

-9.2% from 2022

Average account balance

$80,224

+42.8% from 2022

Annual return

13.89%

+28.74 pp from 2022

Benchmarks

See 28,708 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,708 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.40M

Not enough data

1 years with asset history on file

Average account balance

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

$105K

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.

127.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$703K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+12.21%

Not enough data

1 years with return on file

Admin fee / account holder

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

$10163

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 codes2E3D2G2J2F2T

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.
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

3 tripped

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.
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

$135K

$2870 / participant

Other / not subdivided$135K100.0%

% of EOY assets

2.899%

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

$80,224

$93,598-14.3%

$135,974-41.0%

$75,173+6.7%

Participation rate

97.9%

75.2%+22.7pp

81.9%+16.0pp

67.2%+30.7pp

Annual return

13.89%

30.89%-17.0pp

68.30%-54.4pp

160.72%-146.8pp

Employer contribution / active EE

$2,131

$3,538-39.8%

$4,859-56.1%

$2,671-20.2%

Participant deferral / active EE

$10,844

$6,405+69.3%

$7,760+39.7%

$4,126+162.8%

Admin fee / account holder

$2,326

$6,978-66.7%

$10,767-78.4%

$5,651-58.8%

THE BLUM FIRM, PC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE BLUM FIRM, PC 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