Retirement plan

E.A. FARONE DMD, PC PROFIT SHARING PLAN AND TRUST

Name: E.A. FARONE, D.M.D., P.C. - E.A. FARONE DMD, PC PROFIT SHARING PLAN AND TRUST (2022) Form 5500
Creator: E.A. FARONE, D.M.D., P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, E.A. FARONE DMD, PC PROFIT SHARING PLAN AND TRUST, E.A. FARONE, D.M.D., P.C.

E.A. FARONE, D.M.D., P.C.EIN 10-4540581Plan #001PY 2022

115 EAST 61ST STREET - NEW YORK, NY 10021LinkedIn1-10 employeesmedical practice

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$2.7M

+7.1% from 2021

Total participants

+28.6% from 2021

Average account balance

$296,260

-16.7% from 2021

Annual return

4.87%

-8.97 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

$3.76M

Not enough data

1 years with asset history on file

Average account balance

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

$537K

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.

0.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$52K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$52K

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

+17.36%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1943

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 codes2E2H2R

Plan features

2E
Profit-sharing
Profit-sharing plan.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$20K

$6789 / participant

Other / not subdivided$20K100.0%

% of EOY assets

0.764%

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

$296,260

$167,353+77.0%

$143,797+106.0%

$134,545+120.2%

Participation rate

100.0%

84.8%+15.2pp

80.3%+19.7pp

81.2%+18.8pp

Annual return

4.87%

0.48%+4.4pp

-0.04%+4.9pp

418.37%-413.5pp

Employer contribution / active EE

$22,463

$5,620+299.7%

$4,952+353.6%

$4,742+373.8%

Participant deferral / active EE

$6,447-100.0%

$5,638-100.0%

$6,401-100.0%

Admin fee / account holder

$2,263

$18,096-87.5%

$14,679-84.6%

$11,431-80.2%

E.A. FARONE DMD, PC PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

E.A. FARONE DMD, PC PROFIT SHARING PLAN AND 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