Retirement plan

GORANSON BAIN, PLLC PROFIT SHARING PLAN

Name: GORANSON BAIN, PLLC - GORANSON BAIN, PLLC PROFIT SHARING PLAN (2018) Form 5500
Creator: GORANSON BAIN, PLLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GORANSON BAIN, PLLC PROFIT SHARING PLAN, GORANSON BAIN, PLLC

GORANSON BAIN, PLLCEIN 75-2586668Plan #001PY 2018

8350 N CENTRAL EXPY STE 1700 - DALLAS, TX 75206214-373-7676gbfamilylaw.comLinkedIn51-200 employeeslaw practice

Other plans on this EIN

1 filing

#002Retirement-$2.0M assets

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$4.9M

-17.0% from 2017

Total participants

+18.6% from 2017

Average account balance

$96,178

-30.0% from 2017

Annual return

-5.23%

-16.74 pp from 2017

Benchmarks

See 25,535 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort25,535 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.66M

Not enough data

1 years with asset history on file

Average account balance

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

$149K

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.

105

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.

109.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.82M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$19K

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

+11.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$32971

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 codes2F2G2T3D2E2J2R

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.
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

2 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).

Expense breakdown

Schedule H Part II

Admin total

$812K

$17652 / participant

Other / not subdivided$812K100.0%

% of EOY assets

16.554%

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

$96,178

$77,817+23.6%

$123,553-22.2%

$64,173+49.9%

Participation rate

100.0%

74.7%+25.3pp

82.3%+17.7pp

69.6%+30.4pp

Annual return

-5.23%

12.49%-17.7pp

119.21%-124.4pp

7.63%-12.9pp

Employer contribution / active EE

$3,014-100.0%

$4,628-100.0%

$2,381-100.0%

Participant deferral / active EE

$2,407

$5,240-54.1%

$6,426-62.5%

$3,470-30.6%

Admin fee / account holder

$15,921

$5,519+188.5%

$9,284+71.5%

$4,887+225.8%

GORANSON BAIN, PLLC PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GORANSON BAIN, PLLC 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