Retirement plan

THE PALM BEACH FIRST RESPONDERS FOUNDATION INC SPONSORED RETIREMENT PLAN

Name: PALM BEACH FIRST RESPONDERS FOUNDATION, INC. - THE PALM BEACH FIRST RESPONDERS FOUNDATION INC SPONSORED RETIREMENT PLAN (2024) Form 5500
Creator: PALM BEACH FIRST RESPONDERS FOUNDATION, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE PALM BEACH FIRST RESPONDERS FOUNDATION INC SPONSORED RETIREMENT PLAN, PALM BEACH FIRST RESPONDERS FOUNDATION, INC.

PALM BEACH FIRST RESPONDERS FOUNDATION, INC.EIN 86-2122418Plan #010PY 2024

139 NORTH COUNTY ROAD, SUITE 26 - PALM BEACH, FL 33480561-820-8118

Prospect flagsLow returnsLow fidelity bond

How to read this page

Total assets (EOY)

$2.7M

+51.6% from 2023

Total participants

166

+4.4% from 2023

Average account balance

$16,494

+45.1% from 2023

Annual return

11.31%

-2.74 pp from 2023

Benchmarks

See 2,051 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort2,051 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.72M

Not enough data

1 years with asset history on file

Average account balance

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

$16K

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.

165

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.

99.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$741K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+11.31%

Not enough data

1 years with return on file

Admin fee / account holder

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

$97

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 1 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY3 years Service code 13 · EIN 42-0127290	Contract Administrator	$15,925

Plan features & details

Pension benefit codes2A2E2F2G2T

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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.

Opportunity flags

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$16K

$99 / participant

Contract admin$16K100.0%

% of EOY assets

0.585%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HOLYFIELD & THOMAS, LLC
Auditor EIN: 651083521
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$16,494

$60,504-72.7%

$81,882-79.9%

$74,478-77.9%

Participation rate

99.4%

62.9%+36.5pp

72.4%+27.0pp

67.2%+32.2pp

Annual return

11.31%

16.91%-5.6pp

779.47%-768.2pp

1370.56%-1359.3pp

Employer contribution / active EE

$4,603

$2,627+75.2%

$2,916+57.8%

$2,626+75.3%

Participant deferral / active EE

$3,400-100.0%

$4,323-100.0%

$4,350-100.0%

Admin fee / account holder

$97

$1,492-93.5%

$7,360-98.7%

$1,946-95.0%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY3 years

Service code 13 · EIN 42-0127290

Contract Administrator

$15,925

THE PALM BEACH FIRST RESPONDERS FOUNDATION INC SPONSORED RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE PALM BEACH FIRST RESPONDERS FOUNDATION INC SPONSORED RETIREMENT 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