Retirement plan

BENCIVENGO & KO, D.M.D., P.C. 401(K) PROFIT SHARING PLAN

Name: BENCIVENGO & KO, D.M.D., P.C. - BENCIVENGO & KO, D.M.D., P.C. 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: BENCIVENGO & KO, D.M.D., P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BENCIVENGO & KO, D.M.D., P.C. 401(K) PROFIT SHARING PLAN, BENCIVENGO & KO, D.M.D., P.C.

BENCIVENGO & KO, D.M.D., P.C.EIN 06-1018395Plan #001PY 2022

21 PLEASANT STREET - BRISTOL, CT 060106285860-582-8095LinkedIn11-50 employeesmedical practice

Prospect flagsLow returnsHigh feesLow participationHigh assets / participant

How to read this page

Total assets (EOY)

$2.9M

-20.3% from 2021

Total participants

+10.0% from 2021

Average account balance

$359,325

-10.4% from 2021

Annual return

-20.14%

-30.82 pp from 2021

Benchmarks

See 105,930 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort105,930 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.60M

Not enough data

1 years with asset history on file

Average account balance

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

$460K

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.

125.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$144K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

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

+15.47%

Not enough data

1 years with return on file

Admin fee / account holder

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

$14962

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

4 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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$139K

$15407 / participant

Other / not subdivided$139K100.0%

% of EOY assets

4.824%

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

$359,325

$167,353+114.7%

$143,797+149.9%

$134,545+167.1%

Participation rate

66.7%

84.8%-18.2pp

80.3%-13.7pp

81.2%-14.6pp

Annual return

-20.14%

0.48%-20.6pp

-0.04%-20.1pp

418.37%-438.5pp

Employer contribution / active EE

$3,357

$5,620-40.3%

$4,952-32.2%

$4,742-29.2%

Participant deferral / active EE

$8,514

$6,447+32.1%

$5,638+51.0%

$6,401+33.0%

Admin fee / account holder

$17,333

$18,096-4.2%

$14,679+18.1%

$11,431+51.6%

BENCIVENGO & KO, D.M.D., P.C. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BENCIVENGO & KO, D.M.D., P.C. 401(K) 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