Retirement plan

NEW ENGLAND DERMATOLOGY, P.C. 401(K) PLAN AND TRUST

Name: NEW ENGLAND DERMATOLOGY, P.C. - NEW ENGLAND DERMATOLOGY, P.C. 401(K) PLAN AND TRUST (2024) Form 5500
Creator: NEW ENGLAND DERMATOLOGY, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NEW ENGLAND DERMATOLOGY, P.C. 401(K) PLAN AND TRUST, NEW ENGLAND DERMATOLOGY, P.C.

NEW ENGLAND DERMATOLOGY, P.C.EIN 04-2507134Plan #002PY 2024

354 BIRNIE AVE - SPRINGFIELD, MA 01107413-733-9600LinkedIn11-50 employeesmedical practice

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$22.9M

+28.1% from 2023

Total participants

133

0.0% from 2023

Average account balance

$172,130

+28.1% from 2023

Annual return

24.47%

+18.76 pp from 2023

Benchmarks

See 21,775 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort21,775 peers

Snapshot2024

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

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Analytics

Total assets (EOY)

Plan-year ending balance

$25.32M

Not enough data

1 years with asset history on file

Average account balance

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

$182K

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.

139

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.34M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+16.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$684

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

1 years with F_SCH_H allocation on file

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
AB FUNDS1 year Filed as: ALLIANCE BERNSTEIN LP Service code 27 501 COMMERCE ST · NASHVILLE, TN 37302	Advisory (Plan)	$17,351
CARON & BLETZER, PLLC1 year Service code 99 1 LIBRARY LANE · KINGSTON, NH 03848	Other Fees	$10,800
PASI, LLC1 year Filed as: PASI,LLC Service code 13 10 TALCOTT NOTCH RD STE 200 · FARMINGTON, CT 06032	Contract Administrator	$9,319
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$3,655

Plan features & details

Pension benefit codes2A2E2F2G2J2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
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

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

Expense breakdown

Schedule H Part II

Admin total

$41K

$502 / participant

Recordkeeping$4K8.9%
Investment mgmt$17K42.2%
Contract admin$9K22.7%
Other / not subdivided$11K26.3%

% of EOY assets

0.180%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: CARON & BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: $10,800
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$172,130

$81,248+111.9%

$155,509+10.7%

$80,856+112.9%

Participation rate

100.0%

66.2%+33.8pp

78.2%+21.8pp

67.6%+32.4pp

Annual return

24.47%

33.31%-8.8pp

64.67%-40.2pp

35.59%-11.1pp

Employer contribution / active EE

$8,824

$3,100+184.6%

$4,672+88.8%

$2,755+220.3%

Participant deferral / active EE

$8,014

$3,452+132.2%

$5,626+42.4%

$4,296+86.6%

Admin fee / account holder

$309

$7,997-96.1%

$15,912-98.1%

$6,918-95.5%

Provider

Service type

Compensation

AB FUNDS1 year

Filed as: ALLIANCE BERNSTEIN LP

Service code 27

501 COMMERCE ST · NASHVILLE, TN 37302

Advisory (Plan)

$17,351

CARON & BLETZER, PLLC1 year

Service code 99

1 LIBRARY LANE · KINGSTON, NH 03848

Other Fees

$10,800

PASI, LLC1 year

Filed as: PASI,LLC

Service code 13

10 TALCOTT NOTCH RD STE 200 · FARMINGTON, CT 06032

Contract Administrator

$9,319

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$3,655

NEW ENGLAND DERMATOLOGY, P.C. 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NEW ENGLAND DERMATOLOGY, P.C. 401(K) PLAN AND TRUST

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