Retirement plan

MICHAEL SOLOMON, MD, PA 401(K) PLAN

Name: MICHAEL SOLOMON, MD, PA - MICHAEL SOLOMON, MD, PA 401(K) PLAN (2020) 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 2020

555 NW LAKE WHITNEY PLACE, SUITE 1, P.O. BOX 1167 - PORT ST. LUCIE, FL 34986772-468-0042solomonurology.comLinkedIn1-10 employees

Other plans on this EIN

1 filing

#002Retirement-$471K assets

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$1.6M

+13.8% from 2019

Total participants

+9.1% from 2019

Average account balance

$132,578

+4.3% from 2019

Annual return

10.54%

-7.55 pp from 2019

Benchmarks

See 102,105 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort102,105 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.05M

Not enough data

1 years with asset history on file

Average account balance

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

$158K

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.

185.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$52K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+6.04%

Not enough data

1 years with return on file

Admin fee / account holder

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

$285

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

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

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

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: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$132,578

$209,428-36.7%

$178,498-25.7%

$158,950-16.6%

Participation rate

100.0%

86.4%+13.6pp

81.9%+18.1pp

82.0%+18.0pp

Annual return

10.54%

188.78%-178.2pp

151.09%-140.6pp

302.91%-292.4pp

Employer contribution / active EE

$3,522

$5,707-38.3%

$5,011-29.7%

$4,762-26.0%

Participant deferral / active EE

$5,523

$5,955-7.3%

$5,202+6.2%

$5,983-7.7%

Admin fee / account holder

$17,077-100.0%

$13,985-100.0%

$11,248-100.0%

MICHAEL SOLOMON, MD, PA 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

MICHAEL SOLOMON, MD, PA 401(K) 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