Retirement plan

JOSEPH AFERZON, MD, LLC PROFIT SHARING AND 401(K) PENSION PLAN

Name: JOSEPH AFERZON, MD, LLC - JOSEPH AFERZON, MD, LLC PROFIT SHARING AND 401(K) PENSION PLAN (2024) Form 5500
Creator: JOSEPH AFERZON, MD, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, JOSEPH AFERZON, MD, LLC PROFIT SHARING AND 401(K) PENSION PLAN, JOSEPH AFERZON, MD, LLC

JOSEPH AFERZON, MD, LLCEIN 06-1513669Plan #002PY 2024

595 MAIN ST. - PORTLAND, CT 06480860-832-4664

Prospect flagsHigh feesLow participationLow employer contribution

How to read this page

Total assets (EOY)

$507K

-38.4% from 2023

Total participants

-52.6% from 2023

Average account balance

$72,399

+40.8% from 2023

Annual return

12.56%

+12.88 pp from 2023

Benchmarks

See 109,298 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort109,298 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$547K

Not enough data

1 years with asset history on file

Average account balance

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

$137K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$29K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+3.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1889

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 codes2D2E2G2J3D

Plan features

2D
Offset plan
Plan benefits are subject to offset for retirement benefits provided in another plan or arrangement of the employer.
2E
Profit-sharing
Profit-sharing plan.
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.
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.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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

$471K

$117656 / participant

Other / not subdivided$471K100.0%

% of EOY assets

92.864%

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

$72,399

$183,516-60.5%

$155,534-53.5%

$145,884-50.4%

Participation rate

50.0%

82.7%-32.7pp

78.2%-28.2pp

80.3%-30.3pp

Annual return

12.56%

61.43%-48.9pp

64.92%-52.4pp

551.85%-539.3pp

Employer contribution / active EE

$993

$5,315-81.3%

$4,675-78.8%

$4,662-78.7%

Participant deferral / active EE

$11,862

$6,467+83.4%

$5,630+110.7%

$6,690+77.3%

Admin fee / account holder

$67,232

$19,293+248.5%

$15,900+322.8%

$13,392+402.0%

JOSEPH AFERZON, MD, LLC PROFIT SHARING AND 401(K) PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

JOSEPH AFERZON, MD, LLC PROFIT SHARING AND 401(K) PENSION 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