Retirement plan

CHESTNUT DENTAL ASSOCIATES, P.C. PROFIT SHARING PLAN

Name: CHESTNUT DENTAL ASSOCIATES, P.C. - CHESTNUT DENTAL ASSOCIATES, P.C. PROFIT SHARING PLAN (2024) Form 5500
Creator: CHESTNUT DENTAL ASSOCIATES, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHESTNUT DENTAL ASSOCIATES, P.C. PROFIT SHARING PLAN, CHESTNUT DENTAL ASSOCIATES, P.C.

CHESTNUT DENTAL ASSOCIATES, P.C.EIN 04-2629568Plan #001PY 2024

87 CHESTNUT STREET - NEEDHAM, MA 024922578781-444-6650LinkedIn51-200 employeesmedical practice

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$27.5M

+7.8% from 2023

Total participants

165

-0.6% from 2023

Average account balance

$225,181

+13.1% from 2023

Annual return

13.54%

-3.80 pp from 2023

Benchmarks

See 5,998 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,998 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$27.47M

Not enough data

1 years with asset history on file

Average account balance

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

$225K

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.

122

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.

68.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.22M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+13.54%

Not enough data

1 years with return on file

Admin fee / account holder

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

$585

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

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
SENTINEL PENSION ADVISORS6 years Service code 27 · EIN 04-3422848	Advisory (Plan)	$30,888
SENTINEL PENSION ADVISORS8 years Filed as: SENTINEL BENEFITS GROUP, INC. Service code 15 · EIN 04-3015875	Recordkeeping	$30,227
NATIONAL FINANCIAL SERVICES5 years Filed as: NATIONAL FINANCIAL SERVICES LLC Service code 19 · EIN 04-3523567	Securities Custodian	$10,295

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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$71K

$517 / participant

Recordkeeping$30K42.3%
Trustee / custodial$10K14.4%
Investment mgmt$31K43.3%

% of EOY assets

0.260%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WALDRON H. RAND & COMPANY, P.C.
Auditor EIN: 042759781
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$225,181

$55,437+306.2%

$155,534+44.8%

$74,459+202.4%

Participation rate

68.8%

61.9%+6.9pp

78.2%-9.4pp

67.2%+1.6pp

Annual return

13.54%

269.58%-256.0pp

64.92%-51.4pp

1369.70%-1356.2pp

Employer contribution / active EE

$2,758

$2,266+21.7%

$4,675-41.0%

$2,626+5.0%

Participant deferral / active EE

$6,069

$2,837+113.9%

$5,630+7.8%

$4,350+39.5%

Admin fee / account holder

$585

$1,742-66.4%

$15,900-96.3%

$1,945-69.9%

Provider

Service type

Compensation

SENTINEL PENSION ADVISORS6 years

Service code 27 · EIN 04-3422848

Advisory (Plan)

$30,888

SENTINEL PENSION ADVISORS8 years

Filed as: SENTINEL BENEFITS GROUP, INC.

Service code 15 · EIN 04-3015875

Recordkeeping

$30,227

NATIONAL FINANCIAL SERVICES5 years

Filed as: NATIONAL FINANCIAL SERVICES LLC

Service code 19 · EIN 04-3523567

Securities Custodian

$10,295

CHESTNUT DENTAL ASSOCIATES, P.C. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHESTNUT DENTAL ASSOCIATES, P.C. 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