Retirement plan

MICHAEL SOLOMON, MD, PA 401(K) PLAN

Name: MICHAEL SOLOMON, MD, PA - MICHAEL SOLOMON, MD, PA 401(K) PLAN (2017) Form 5500
Creator: MICHAEL SOLOMON, MD, PA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MICHAEL SOLOMON, MD, PA 401(K) PLAN, MICHAEL SOLOMON, MD, PA

MICHAEL SOLOMON, MD, PAEIN 01-0677742Plan #001PY 2017

555 NW LAKE WHITNEY PLACE, SUITE 1 - PORT ST. LUCIE, FL 34986772-468-0042solomonurology.comLinkedIn1-10 employees

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.2M

+17.4% from 2016

Total participants

+11.1% from 2016

Average account balance

$118,638

+5.7% from 2016

Annual return

15.89%

+10.24 pp from 2016

Benchmarks

See 106,910 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort106,910 peers

Snapshot2017

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

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Analytics

Total assets (EOY)

Plan-year ending balance

$2.38M

Not enough data

1 years with asset history on file

Average account balance

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

$170K

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.

155.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$55K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+13.80%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 10-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 codes2E2F2G2J3D

Plan features

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$56K

$13892 / participant

Other / not subdivided$56K100.0%

% of EOY assets

4.684%

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: -

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$118,638

$198,466-40.2%

$170,442-30.4%

$147,584-19.6%

Participation rate

100.0%

88.0%+12.0pp

83.6%+16.4pp

82.8%+17.2pp

Annual return

15.89%

257.29%-241.4pp

205.93%-190.0pp

578.55%-562.7pp

Employer contribution / active EE

$11,087

$6,184+79.3%

$5,433+104.1%

$4,876+127.4%

Participant deferral / active EE

$6,615

$5,629+17.5%

$4,939+33.9%

$5,439+21.6%

Admin fee / account holder

$5,557

$16,852-67.0%

$13,880-60.0%

$10,885-49.0%

MICHAEL SOLOMON, MD, PA 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MICHAEL SOLOMON, MD, PA 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