Retirement plan

SECURITY FIRST MANAGERS LLC 401(K) PROFIT SHARING PLAN AND TRUST

Name: SECURITY FIRST MANAGERS LLC - SECURITY FIRST MANAGERS LLC 401(K) PROFIT SHARING PLAN AND TRUST (2024) Form 5500
Creator: SECURITY FIRST MANAGERS LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SECURITY FIRST MANAGERS LLC 401(K) PROFIT SHARING PLAN AND TRUST, SECURITY FIRST MANAGERS LLC

SECURITY FIRST MANAGERS LLCEIN 75-3176413Plan #001PY 2024

1001 BROADWAY AVE - ORMOND BEACH, FL 32174386-868-1321securityfirstmanagers.comLinkedIn51-200 employeesinsurance

Prospect flagsLow returnsHigh feesLow participationCorrective distributions

How to read this page

Total assets (EOY)

$19.1M

+14.6% from 2023

Total participants

434

-12.0% from 2023

Average account balance

$61,568

+22.7% from 2023

Annual return

12.15%

-5.26 pp from 2023

Benchmarks

See 1,547 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,547 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$19.15M

Not enough data

1 years with asset history on file

Average account balance

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

$62K

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.

311

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.

68.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.86M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+12.15%

Not enough data

1 years with return on file

Admin fee / account holder

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

$349

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 2 by compensation

Provider	Service type	Compensation
UBS FINANCIAL SERVICES INC3 years Service code 27 · EIN 13-2638166	Advisory (Plan)	$73,633
STANCORP FINANCIAL GROUP1 year Service code 12 · EIN 93-1253576	Direct payment from the plan; Recordk...	$51,851

Plan features & details

Pension benefit codes2E2F2G2J2K2T3B3D3H

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$109K

$280 / participant

Investment mgmt$74K67.7%
Contract admin$35K32.3%

% of EOY assets

0.568%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HOWELL FERGUSON, PA
Auditor EIN: 593186310
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$61,568

$129,227-52.4%

$184,260-66.6%

$77,736-20.8%

Participation rate

68.3%

87.4%-19.1pp

86.8%-18.5pp

70.6%-2.3pp

Annual return

12.15%

33.24%-21.1pp

28.84%-16.7pp

31.26%-19.1pp

Employer contribution / active EE

$2,273

$4,412-48.5%

$6,427-64.6%

$2,728-16.7%

Participant deferral / active EE

$5,090

$7,307-30.3%

$9,133-44.3%

$4,651+9.5%

Admin fee / account holder

$349

$256+36.7%

$13,898-97.5%

$433-19.3%

Provider

Service type

Compensation

UBS FINANCIAL SERVICES INC3 years

Service code 27 · EIN 13-2638166

Advisory (Plan)

$73,633

STANCORP FINANCIAL GROUP1 year

Service code 12 · EIN 93-1253576

Direct payment from the plan; Recordk...

$51,851

SECURITY FIRST MANAGERS LLC 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SECURITY FIRST MANAGERS LLC 401(K) PROFIT SHARING PLAN AND TRUST

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