Retirement plan

TRI-COUNTY VISION ASSOCIATES, LLC 401(K) PLAN

Name: TRI-COUNTY VISION ASSOCIATES, LLC - TRI-COUNTY VISION ASSOCIATES, LLC 401(K) PLAN (2022) Form 5500
Creator: TRI-COUNTY VISION ASSOCIATES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TRI-COUNTY VISION ASSOCIATES, LLC 401(K) PLAN, TRI-COUNTY VISION ASSOCIATES, LLC

TRI-COUNTY VISION ASSOCIATES, LLCEIN 06-1467050Plan #001PY 2022

16 WALNUT STREET - WILLIMANTIC, CT 06226860-423-2565LinkedIn1-10 employeesmedical practice

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$597K

-5.4% from 2021

Total participants

+27.3% from 2021

Average account balance

$49,750

-29.1% from 2021

Annual return

-17.21%

-31.39 pp from 2021

Benchmarks

See 105,950 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort105,950 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$987K

Not enough data

1 years with asset history on file

Average account balance

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

$62K

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.

160.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$105K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+12.74%

Not enough data

1 years with return on file

Admin fee / account holder

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

$180

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 codes2F2G2J2T3B3D

Plan features

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

$13K

$1214 / participant

Other / not subdivided$13K100.0%

% of EOY assets

2.237%

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

$49,750

$167,362-70.3%

$143,799-65.4%

$134,532-63.0%

Participation rate

81.8%

84.8%-3.0pp

80.3%+1.5pp

81.2%+0.6pp

Annual return

-17.21%

0.47%-17.7pp

-0.04%-17.2pp

418.27%-435.5pp

Employer contribution / active EE

$1,809

$5,620-67.8%

$4,952-63.5%

$4,741-61.8%

Participant deferral / active EE

$6,135

$6,447-4.8%

$5,638+8.8%

$6,401-4.2%

Admin fee / account holder

$1,113

$18,094-93.8%

$14,677-92.4%

$11,429-90.3%

TRI-COUNTY VISION ASSOCIATES, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TRI-COUNTY VISION ASSOCIATES, LLC 401(K) 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