Retirement plan

MICHAEL J POWERS 401 K PROFIT SHARING PLAN TRUST

Name: DR. MICHAEL POWERS DDS - MICHAEL J POWERS 401 K PROFIT SHARING PLAN TRUST (2016) Form 5500
Creator: DR. MICHAEL POWERS DDS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MICHAEL J POWERS 401 K PROFIT SHARING PLAN TRUST, DR. MICHAEL POWERS DDS

DR. MICHAEL POWERS DDSEIN 04-3510291Plan #001PY 2016

26 DALE AVE - GLOUCESTER, MA 019305906978-283-0396michaelpowersmusic.comLinkedIn1-10 employeesmusic

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$583K

+15.0% from 2015

Total participants

+7.1% from 2015

Average account balance

$38,871

+7.3% from 2015

Annual return

5.86%

+8.84 pp from 2015

Benchmarks

See 6,180 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants<25

Cohort6,180 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$858K

Not enough data

1 years with asset history on file

Average account balance

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

$95K

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.

112.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$65K

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

+15.06%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2778

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

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

$38K

$4747 / participant

Other / not subdivided$38K100.0%

% of EOY assets

6.513%

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

$38,871

$103,957-62.6%

$69,182-43.8%

$273,968-85.8%

Participation rate

100.0%

67.4%+32.6pp

55.1%+44.9pp

83.0%+17.0pp

Annual return

5.86%

35.28%-29.4pp

-21.94%+27.8pp

41.45%-35.6pp

Employer contribution / active EE

$6,983

$1,781+292.1%

$1,205+479.5%

$4,869+43.4%

Participant deferral / active EE

$3,559

$2,716+31.0%

$1,896+87.7%

$5,287-32.7%

Admin fee / account holder

$2,532

$3,671-31.0%

$2,697-6.1%

$10,132-75.0%

MICHAEL J POWERS 401 K PROFIT SHARING PLAN TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MICHAEL J POWERS 401 K PROFIT SHARING PLAN 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