Retirement plan

WOOD, SMITH, HENNING & BERMAN LLP ATTORNEYS & STAFF 401(K) PLAN AND TRUST

Name: WOOD, SMITH, HENNING, & BERMAN LLP - WOOD, SMITH, HENNING & BERMAN LLP ATTORNEYS & STAFF 401(K) PLAN AND TRUST (2023) Form 5500
Creator: WOOD, SMITH, HENNING, & BERMAN LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WOOD, SMITH, HENNING & BERMAN LLP ATTORNEYS & STAFF 401(K) PLAN AND TRUST, WOOD, SMITH, HENNING, & BERMAN LLP

WOOD, SMITH, HENNING, & BERMAN LLPEIN 95-4608126Plan #003PY 2023

10960 WILSHIRE BLVD 18TH FLOOR - LOS ANGELES, CA 90024310-481-7600wshblaw.comLinkedIn501-1000 employeeslaw practice

Other plans on this EIN

2 filings

#001Retirement-$14.4M assets #005Retirement-$8.8M assets

Prospect flagsLow participationLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$32.7M

+29.7% from 2022

Total participants

672

+10.2% from 2022

Average account balance

$67,726

+14.4% from 2022

Annual return

18.18%

+35.58 pp from 2022

Benchmarks

See 3,232 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,232 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$40.03M

Not enough data

1 years with asset history on file

Average account balance

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

$76K

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.

529

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.

61.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.32M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+20.03%

Not enough data

1 years with return on file

Admin fee / account holder

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

$29

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 2 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY9+ years Filed as: JOHN HANCOCK LIFE INSURANCE CO. Service code 15 · EIN 01-0233346 P.O. BOX 600 · BUFFALO, NY 14201	Recordkeeping	$5,721
ASCENSUS LLC2 years Filed as: FUTUREPLAN BY ASCENSUS Service code 16 · EIN 65-3207191	Consulting	$4,851

Plan features & details

Pension benefit codes2A2E2F2G2J2T3B3D

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.
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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$11K

$21 / participant

Recordkeeping$5K45.9%
Contract admin$6K54.1%

% of EOY assets

0.032%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ARMANINO, LLP
Auditor EIN: 946214841
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$67,726

$95,417-29.0%

$135,974-50.2%

$74,460-9.0%

Participation rate

61.7%

78.2%-16.6pp

81.9%-20.3pp

70.7%-9.1pp

Annual return

18.18%

32.76%-14.6pp

68.30%-50.1pp

34.38%-16.2pp

Employer contribution / active EE

$47

$3,878-98.8%

$4,859-99.0%

$2,638-98.2%

Participant deferral / active EE

$7,516

$7,789-3.5%

$7,760-3.1%

$4,530+65.9%

Admin fee / account holder

$22

$266-91.8%

$10,767-99.8%

$348-93.7%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY9+ years

Filed as: JOHN HANCOCK LIFE INSURANCE CO.

Service code 15 · EIN 01-0233346

P.O. BOX 600 · BUFFALO, NY 14201

Recordkeeping

$5,721

ASCENSUS LLC2 years

Filed as: FUTUREPLAN BY ASCENSUS

Service code 16 · EIN 65-3207191

Consulting

$4,851

WOOD, SMITH, HENNING & BERMAN LLP ATTORNEYS & STAFF 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WOOD, SMITH, HENNING & BERMAN LLP ATTORNEYS & STAFF 401(K) PLAN AND TRUST

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