Retirement plan

BANKS GAFFNEY, PLLC 401(K)

Name: BANKS GAFFNEY, PLLC - BANKS GAFFNEY, PLLC 401(K) (2024) Form 5500
Creator: BANKS GAFFNEY, PLLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BANKS GAFFNEY, PLLC 401(K), BANKS GAFFNEY, PLLC

BANKS GAFFNEY, PLLCEIN 81-4389714Plan #001PY 2024

330 SHOUP SUITE 201 - IDAHO FALLS, ID 83402208-520-0886

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$404K

-7.1% from 2023

Total participants

-14.3% from 2023

Average account balance

$67,348

+8.4% from 2023

Annual return

13.44%

-5.89 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

$404K

Not enough data

1 years with asset history on file

Average account balance

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

$67K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$56K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+13.44%

Not enough data

1 years with return on file

Admin fee / account holder

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

$24513

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 codes2E2J

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$147K

$24513 / participant

Other / not subdivided$147K100.0%

% of EOY assets

36.397%

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

$67,348

$160,028-57.9%

$147,080-54.2%

$145,884-53.8%

Participation rate

100.0%

84.0%+16.0pp

82.2%+17.8pp

80.3%+19.7pp

Annual return

13.44%

98.60%-85.2pp

420.17%-406.7pp

551.85%-538.4pp

Employer contribution / active EE

$1,515

$5,286-71.3%

$4,933-69.3%

$4,662-67.5%

Participant deferral / active EE

$7,739

$8,422-8.1%

$8,066-4.1%

$6,690+15.7%

Admin fee / account holder

$24,513

$15,030+63.1%

$12,989+88.7%

$13,392+83.0%

BANKS GAFFNEY, PLLC 401(K)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BANKS GAFFNEY, PLLC 401(K)

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