Retirement plan

SHAH VISION BENEFITS 401(K) PROFIT SHARING PLAN

Name: CHIRAG S. SHAH, MD LLC - SHAH VISION BENEFITS 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: CHIRAG S. SHAH, MD LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHAH VISION BENEFITS 401(K) PROFIT SHARING PLAN, CHIRAG S. SHAH, MD LLC

CHIRAG S. SHAH, MD LLCEIN 03-0389901Plan #001PY 2024

1 CARDIFF CT. - WEST WINDSOR, NJ 08850609-649-8500

Other plans on this EIN

1 filing

#002Retirement-$1.9M assets

Prospect flagsLow assets / participant

How to read this page

Total assets (EOY)

$142K

+58.8% from 2023

Total participants

+33.3% from 2023

Average account balance

$11,865

+32.3% from 2023

Annual return

13.36%

-3.41 pp from 2023

Benchmarks

See 109,210 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort109,210 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$142K

Not enough data

1 years with asset history on file

Average account balance

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

$12K

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.

80.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$41K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+13.36%

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

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 codes2E2J2R3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

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

$11,865

$183,539-93.5%

$155,556-92.4%

$145,897-91.9%

Participation rate

73.3%

82.7%-9.4pp

78.2%-4.9pp

80.3%-7.0pp

Annual return

13.36%

61.31%-47.9pp

64.84%-51.5pp

552.29%-538.9pp

Employer contribution / active EE

$2,715

$5,315-48.9%

$4,675-41.9%

$4,663-41.8%

Participant deferral / active EE

$6,467-100.0%

$5,631-100.0%

$6,689-100.0%

Admin fee / account holder

$19,275-100.0%

$15,885-100.0%

$13,390-100.0%

SHAH VISION BENEFITS 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

SHAH VISION BENEFITS 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