Retirement plan

STERLING WEALTH MANAGEMENT 401(K) PROFIT SHARING PLAN

Name: STERLING WEALTH MANAGEMENT - STERLING WEALTH MANAGEMENT 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: STERLING WEALTH MANAGEMENT
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, STERLING WEALTH MANAGEMENT 401(K) PROFIT SHARING PLAN, STERLING WEALTH MANAGEMENT

STERLING WEALTH MANAGEMENTEIN 87-4429461Plan #001PY 2024

80 CHURCH STREET - MONTROSE, PA 18801570-278-4278swmpa.comLinkedIn1-10 employeesfinancial services

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$650K

+45.6% from 2023

Total participants

0.0% from 2023

Average account balance

$216,809

+45.6% from 2023

Annual return

17.20%

-6.09 pp from 2023

Benchmarks

See 144,237 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort144,237 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$300K

Not enough data

1 years with asset history on file

Average account balance

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

$100K

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

$115K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$38K

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

+20.59%

Not enough data

1 years with return on file

Admin fee / account holder

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

$199972

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

See the 4-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

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 codes2A2E2F2J2T3D

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).
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

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

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: -

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$216,809

$159,901+35.6%

$146,958+47.5%

$145,922+48.6%

Participation rate

100.0%

84.0%+16.0pp

82.2%+17.8pp

80.3%+19.7pp

Annual return

17.20%

98.13%-80.9pp

418.34%-401.1pp

561.29%-544.1pp

Employer contribution / active EE

$20,924

$5,286+295.8%

$4,933+324.2%

$4,660+349.1%

Participant deferral / active EE

$21,366

$8,428+153.5%

$8,070+164.8%

$6,688+219.5%

Admin fee / account holder

$15,044-100.0%

$12,998-100.0%

$13,397-100.0%

STERLING WEALTH MANAGEMENT 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

STERLING WEALTH MANAGEMENT 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion