Retirement plan

SHAH VISION BENEFITS 401(K) PROFIT SHARING PLAN

Name: CHIRAG S. SHAH, MD LLC - SHAH VISION BENEFITS 401(K) PROFIT SHARING PLAN (2022) 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 2022

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

Other plans on this EIN

1 filing

#002Retirement-$996K assets

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$55K

No prior year

Total participants

No prior year

Average account balance

$27,554

No prior year

Annual return

-17.79%

No prior year

Benchmarks

See 105,930 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort105,930 peers

Snapshot2022

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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$109

$11 / participant

Other / not subdivided$109100.0%

% of EOY assets

0.198%

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: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$27,554

$167,353-83.5%

$143,797-80.8%

$134,545-79.5%

Participation rate

20.0%

84.8%-64.8pp

80.3%-60.3pp

81.2%-61.2pp

Annual return

-17.79%

0.48%-18.3pp

-0.04%-17.7pp

418.37%-436.2pp

Employer contribution / active EE

$3,480

$5,620-38.1%

$4,952-29.7%

$4,742-26.6%

Participant deferral / active EE

$6,447-100.0%

$5,638-100.0%

$6,401-100.0%

Admin fee / account holder

$55

$18,096-99.7%

$14,679-99.6%

$11,431-99.5%

SHAH VISION BENEFITS 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHAH VISION BENEFITS 401(K) PROFIT SHARING 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