Retirement plan

BOSTON EYE CARE CONSULTANTS 401(K) RETIREMENT PLAN

Name: BOSTON EYE CARE CONSULTANTS - BOSTON EYE CARE CONSULTANTS 401(K) RETIREMENT PLAN (2019) Form 5500
Creator: BOSTON EYE CARE CONSULTANTS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BOSTON EYE CARE CONSULTANTS 401(K) RETIREMENT PLAN, BOSTON EYE CARE CONSULTANTS

BOSTON EYE CARE CONSULTANTSEIN 04-3010548Plan #001PY 2019

51 MAIN STREET, SUITE 51 - HYANNIS, MA 02601508-771-6447bostoneyecareconsultants.comLinkedIn11-50 employeesmedical practice

Prospect flagsHigh feesLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$1M

+21.1% from 2018

Total participants

+18.2% from 2018

Average account balance

$144,424

+55.7% from 2018

Annual return

21.87%

+29.67 pp from 2018

Benchmarks

See 104,312 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort104,312 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.62M

Not enough data

1 years with asset history on file

Average account balance

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

$324K

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.

83.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$49K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+14.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$9208

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 codes2E2F2G2J2T3D

Plan features

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

3 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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$59K

$11885 / participant

Other / not subdivided$59K100.0%

% of EOY assets

5.878%

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

$144,424

$202,345-28.6%

$172,755-16.4%

$152,885-5.5%

Participation rate

0.0%

87.1%-87.1pp

82.6%-82.6pp

82.5%-82.5pp

Annual return

21.87%

1029.77%-1007.9pp

802.94%-781.1pp

345.39%-323.5pp

Employer contribution / active EE

$4,136

$5,858-29.4%

$5,144-19.6%

$4,763-13.2%

Participant deferral / active EE

$6,394

$5,948+7.5%

$5,198+23.0%

$5,851+9.3%

Admin fee / account holder

$8,489

$17,111-50.4%

$13,955-39.2%

$11,598-26.8%

BOSTON EYE CARE CONSULTANTS 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BOSTON EYE CARE CONSULTANTS 401(K) RETIREMENT 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