Benchmarking Cleveland Group, Inc. and Subsidiaries 401(K) Profit Sharing Plan in Atlanta, GA against all plans
In Georgia with its 624 plans, Cleveland Group, Inc. and Subsidiaries 401(K) Profit Sharing Plan in Atlanta, GA paid the highest professional fees ($13,935) of the 172 plans (from those 624) with at most $21,259 in total administrative expenses (Cleveland Group, Inc. and Subsidiaries 401(K) Profit Sharing Plan is at $14,623).
That is, among those 172 plans that do well on one measure, Cleveland Group, Inc. and Subsidiaries 401(K) Profit Sharing Plan does least well on a related measure. Those $13,935 compare to an average of $505.80 across the 172 plans.
That is, among those 172 plans that do well on one measure, Cleveland Group, Inc. and Subsidiaries 401(K) Profit Sharing Plan does least well on a related measure. Those $13,935 compare to an average of $505.80 across the 172 plans.
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Peers
exceeded Price Industries, Inc. 401(K) Plan in Suwanee, GA ($11,113), Digestive Healthcare of Georgia, P.C. 401(K) Profit Sharing Plan in Atlanta, GA ($11,102), Gourmet Culinary Partners 401(K) Retirement Savings Plan in Lake City, GA ($9,425), and Three Rivers Home Health Services, Inc. 401(K) Plan in Eastman, GA ($8,150), and 167 others, ending with Computex Technology Solutions Employee Savings Plan in Marietta, GA ($0).
Taking Action
Read the article A Unique Way to Get Others to Improve to understand the reasoning underlying such benchmarking insights.
References
- professional fees. Lower values are better. From Line 2i(1), Schedule H. Includes the total fees paid (or in the case of accrual basis plans, costs incurred during the plan year but not paid as of the end of the plan year) by the plan for outside accounting, actuarial, legal, and valuation/appraisal services. Includes fees for the annual audit of the plan by an independent qualified public accountant (IQPA); for payroll audits; for accounting/bookkeeping services; for actuarial services rendered to the plan; and to a lawyer for rendering legal opinions, litigation, and advice (but not for providing legal services as a benefit to plan participants). Reports fees and expenses for corporate trustees and individual plan trustees, including reimbursement of expenses associated with trustees, such as lost time, seminars, travel, meetings, etc. Includes the fee(s) for valuations or appraisals to determine the cost, quality, or value of an item such as real property, personal property (gemstones, coins, etc.), and for valuations of closely held securities for which there is no ready market. Does not include amounts paid to plan employees to perform bookkeeping/accounting functions that should be included in line 2i(4). A missing entry from the Schedule H is here assigned a value of $0. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
- in state. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
- total administrative expenses. Lower values are better. From Line 2i(5), Schedule H. A missing entry from the Schedule H is here assigned a value of $0. Note that total administrative expenses = professional fees + contract administrator fees + investment advisory and management fees + other administrative expenses. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.