Retirement plan

LEGACY WEALTH PARTNERS, LLC 401(K) PLAN

Name: LEGACY WEALTH PARTNERS, LLC - LEGACY WEALTH PARTNERS, LLC 401(K) PLAN (2023) Form 5500
Creator: LEGACY WEALTH PARTNERS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LEGACY WEALTH PARTNERS, LLC 401(K) PLAN, LEGACY WEALTH PARTNERS, LLC

LEGACY WEALTH PARTNERS, LLCEIN 84-4589210Plan #001PY 2023

SUITE 122 - CARMEL, IN 46290317-795-1380

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$520K

+6.3% from 2022

Total participants

-25.0% from 2022

Average account balance

$173,391

+6.3% from 2022

Annual return

18.53%

+41.99 pp from 2022

Benchmarks

See 36,154 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort36,154 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$682K

Not enough data

1 years with asset history on file

Average account balance

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

$341K

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

$14K

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

+25.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$57576

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 codes2E2J2G2R3D3B

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

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

$91K

$30205 / participant

Other / not subdivided$91K100.0%

% of EOY assets

17.420%

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

$173,391

$185,905-6.7%

$170,057+2.0%

$139,487+24.3%

Participation rate

100.0%

87.8%+12.2pp

87.0%+13.0pp

80.3%+19.7pp

Annual return

18.53%

60.56%-42.0pp

53.42%-34.9pp

373.84%-355.3pp

Employer contribution / active EE

$2,368

$7,597-68.8%

$6,790-65.1%

$4,755-50.2%

Participant deferral / active EE

$7,667

$11,627-34.1%

$10,411-26.4%

$6,713+14.2%

Admin fee / account holder

$30,205

$15,397+96.2%

$12,826+135.5%

$11,407+164.8%

LEGACY WEALTH PARTNERS, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LEGACY WEALTH PARTNERS, LLC 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