Retirement plan

TALLMAN EYE ASSOCIATES, P.C. 401(K) SAVINGS PLAN

Name: TALLMAN EYE ASSOCIATES, P.C. - TALLMAN EYE ASSOCIATES, P.C. 401(K) SAVINGS PLAN (2020) Form 5500
Creator: TALLMAN EYE ASSOCIATES, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TALLMAN EYE ASSOCIATES, P.C. 401(K) SAVINGS PLAN, TALLMAN EYE ASSOCIATES, P.C.

TALLMAN EYE ASSOCIATES, P.C.EIN 04-2624483Plan #003PY 2020

360 MERRIMACK ST, BLDG 9, ENTRANCE I - LAWRENCE, MA 01843978-688-6182tallmaneye.comLinkedIn51-200 employeesmedical practice

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$7.9M

+9.8% from 2019

Total participants

119

+2.6% from 2019

Average account balance

$66,502

+7.0% from 2019

Annual return

15.32%

-3.64 pp from 2019

Benchmarks

See 18,640 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort18,640 peers

Snapshot2020

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

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Analytics

Total assets (EOY)

Plan-year ending balance

$10.68M

Not enough data

1 years with asset history on file

Average account balance

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

$96K

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.

111

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.

97.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$689K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+12.11%

Not enough data

1 years with return on file

Admin fee / account holder

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

$623

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

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.

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
THIRD PARTY ADMINISTRATORS, INC.5 years Service code 17 2 EXECUTIVE PARK DRIVE, SUITE 100 · BEDFORD, NH 03110	Pension Consulting	$2,777
JOHN HANCOCK LIFE INSURANCE COMPANY5 years Filed as: JOHN HANCOCK LIFE INS. CO. (U.S.A.) Service code 15 · EIN 01-0233346	Recordkeeping	$1,527

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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$48K

$619 / participant

Contract admin$48K100.0%

% of EOY assets

0.603%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: KEVIN P MARTIN & ASSOCIATES, P.C.
Auditor EIN: 043097400
Audit fees: (not subdivided)
Opinion code: Disclaimer

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$66,502

$91,190-27.1%

$178,490-62.7%

$79,858-16.7%

Participation rate

100.0%

69.2%+30.8pp

81.9%+18.1pp

69.6%+30.4pp

Annual return

15.32%

24.19%-8.9pp

151.07%-135.8pp

31.71%-16.4pp

Employer contribution / active EE

$3,992

$3,256+22.6%

$5,011-20.3%

$2,471+61.5%

Participant deferral / active EE

$3,581

$3,236+10.7%

$5,202-31.2%

$3,740-4.3%

Admin fee / account holder

$401

$6,751-94.1%

$13,984-97.1%

$5,306-92.4%

Provider

Service type

Compensation

THIRD PARTY ADMINISTRATORS, INC.5 years

Service code 17

2 EXECUTIVE PARK DRIVE, SUITE 100 · BEDFORD, NH 03110

Pension Consulting

$2,777

JOHN HANCOCK LIFE INSURANCE COMPANY5 years

Filed as: JOHN HANCOCK LIFE INS. CO. (U.S.A.)

Service code 15 · EIN 01-0233346

Recordkeeping

$1,527

TALLMAN EYE ASSOCIATES, P.C. 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TALLMAN EYE ASSOCIATES, P.C. 401(K) SAVINGS 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