Retirement plan

BUCKMAN & CORNING FINANCIAL STRATEGIES GROUP, LLC 401K PLAN

Name: BUCKMAN & CORNING FINANCIAL STRATEGIES GROUP, LLC - BUCKMAN & CORNING FINANCIAL STRATEGIES GROUP, LLC 401K PLAN (2023) Form 5500
Creator: BUCKMAN & CORNING FINANCIAL STRATEGIES GROUP, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BUCKMAN & CORNING FINANCIAL STRATEGIES GROUP, LLC 401K PLAN, BUCKMAN & CORNING FINANCIAL STRATEGIES GROUP, LLC

BUCKMAN & CORNING FINANCIAL STRATEGIES GROUP, LLCEIN 84-1964427Plan #001PY 2023

14624 NORTH SCOTTSDALE ROAD, SUITE 120 - SCOTTSDALE, AZ 85254480-591-1993preparetoretire.netLinkedIn1-10 employees

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.5M

+16.4% from 2022

Total participants

+20.0% from 2022

Average account balance

$121,031

-3.0% from 2022

Annual return

15.59%

+35.11 pp from 2022

Benchmarks

See 36,165 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort36,165 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.56M

Not enough data

1 years with asset history on file

Average account balance

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

$120K

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.

118.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$145K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+16.88%

Not enough data

1 years with return on file

Admin fee / account holder

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

$22053

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 codes2E2F2G2J2T3D

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

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

$118K

$13062 / participant

Other / not subdivided$118K100.0%

% of EOY assets

8.094%

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

$121,031

$185,883-34.9%

$170,043-28.8%

$139,466-13.2%

Participation rate

100.0%

87.8%+12.2pp

87.0%+13.0pp

80.3%+19.7pp

Annual return

15.59%

60.54%-45.0pp

53.40%-37.8pp

373.66%-358.1pp

Employer contribution / active EE

$5,474

$7,596-27.9%

$6,790-19.4%

$4,754+15.1%

Participant deferral / active EE

$8,249

$11,626-29.0%

$10,410-20.8%

$6,712+22.9%

Admin fee / account holder

$9,796

$15,393-36.4%

$12,824-23.6%

$11,409-14.1%

BUCKMAN & CORNING FINANCIAL STRATEGIES GROUP, LLC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BUCKMAN & CORNING FINANCIAL STRATEGIES GROUP, LLC 401K 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