Retirement plan

OFT LAW 401(K) PLAN

Name: OFT LAW, PLLC - OFT LAW 401(K) PLAN (2023) Form 5500
Creator: OFT LAW, PLLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OFT LAW 401(K) PLAN, OFT LAW, PLLC

OFT LAW, PLLCEIN 84-2849914Plan #001PY 2023

730 2ND AVE S., SUITE 810 - MINNEAPOLIS, MN 55402612-268-5524

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$1.7M

+27.6% from 2022

Total participants

+14.3% from 2022

Average account balance

$280,158

+48.9% from 2022

Annual return

25.23%

+45.41 pp from 2022

Benchmarks

See 139,849 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort139,849 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.16M

Not enough data

1 years with asset history on file

Average account balance

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

$240K

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.

128.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$133K

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

+20.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$387

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 codes2E3D2G2J2F2T

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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$73K

$10475 / participant

Other / not subdivided$73K100.0%

% of EOY assets

4.362%

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

$280,158

$148,582+88.6%

$135,942+106.1%

$139,456+100.9%

Participation rate

71.4%

83.9%-12.4pp

81.9%-10.5pp

80.3%-8.9pp

Annual return

25.23%

79.26%-54.0pp

68.28%-43.1pp

373.45%-348.2pp

Employer contribution / active EE

$3,825

$5,245-27.1%

$4,858-21.3%

$4,753-19.5%

Participant deferral / active EE

$11,096

$8,101+37.0%

$7,759+43.0%

$6,711+65.3%

Admin fee / account holder

$12,221

$12,402-1.5%

$10,764+13.5%

$11,407+7.1%

OFT LAW 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OFT LAW 401(K) 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