Retirement plan

ROMANO & ASSOCIATES, PLLC 401(K) PROFIT SHARING PLAN

Name: ROMANO & ASSOCIATES, PLLC - ROMANO & ASSOCIATES, PLLC 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: ROMANO & ASSOCIATES, PLLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ROMANO & ASSOCIATES, PLLC 401(K) PROFIT SHARING PLAN, ROMANO & ASSOCIATES, PLLC

ROMANO & ASSOCIATES, PLLCdba CEIN 80-0442714Plan #001PY 2024

208 CAPITOL STREET, SUITE 300 - CHARLESTON, WV 25301304-345-2626ro-law.comLinkedIn1-10 employeeslaw practice

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$453K

+23.2% from 2023

Total participants

+12.5% from 2023

Average account balance

$50,375

+9.5% from 2023

Annual return

11.72%

-1.05 pp from 2023

Benchmarks

See 143,561 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort143,561 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$453K

Not enough data

1 years with asset history on file

Average account balance

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

$50K

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.

450.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$42K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$21K

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

+11.72%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2E2J2F2G3D3B

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.
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

1 tripped

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

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

$50,375

$160,028-68.5%

$147,080-65.7%

$145,884-65.5%

Participation rate

100.0%

84.0%+16.0pp

82.2%+17.8pp

80.3%+19.7pp

Annual return

11.72%

98.60%-86.9pp

420.17%-408.5pp

551.85%-540.1pp

Employer contribution / active EE

$4,608

$5,286-12.8%

$4,933-6.6%

$4,662-1.2%

Participant deferral / active EE

$16,442

$8,422+95.2%

$8,066+103.8%

$6,690+145.8%

Admin fee / account holder

$15,030-100.0%

$12,989-100.0%

$13,392-100.0%

ROMANO & ASSOCIATES, PLLC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

ROMANO & ASSOCIATES, PLLC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion