Retirement plan

PROFICIENT SURGICAL EQUIPMENT, INC. PROFIT SHARING PLAN

Name: PROFICIENT SURGICAL EQUIPMENT, INC. - PROFICIENT SURGICAL EQUIPMENT, INC. PROFIT SHARING PLAN (2021) Form 5500
Creator: PROFICIENT SURGICAL EQUIPMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PROFICIENT SURGICAL EQUIPMENT, INC. PROFIT SHARING PLAN, PROFICIENT SURGICAL EQUIPMENT, INC.

PROFICIENT SURGICAL EQUIPMENT, INC.EIN 13-3907488Plan #001PY 2021

99 SEAVIEW BOULEVARD, SUITE C - PORT WASHINGTON, NY 11050516-487-1175proficientsurgical.comLinkedIn11-50 employeesmedical devices

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$3.3M

+15.7% from 2020

Total participants

+10.0% from 2020

Average account balance

$149,774

+5.2% from 2020

Annual return

8.34%

-9.57 pp from 2020

Benchmarks

See 22,593 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort22,593 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.49M

Not enough data

1 years with asset history on file

Average account balance

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

$225K

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.

142.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$215K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+23.14%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4105

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 codes2E2G3D2J

Plan features

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

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.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$32K

$1971 / participant

Other / not subdivided$32K100.0%

% of EOY assets

0.957%

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

$149,774

$176,838-15.3%

$146,685+2.1%

$167,518-10.6%

Participation rate

100.0%

83.6%+16.4pp

80.1%+19.9pp

82.1%+17.9pp

Annual return

8.34%

24.04%-15.7pp

22.75%-14.4pp

478.71%-470.4pp

Employer contribution / active EE

$4,082

$5,161-20.9%

$4,137-1.3%

$4,838-15.6%

Participant deferral / active EE

$9,014

$6,441+40.0%

$5,507+63.7%

$6,342+42.1%

Admin fee / account holder

$1,433

$13,262-89.2%

$10,281-86.1%

$12,312-88.4%

PROFICIENT SURGICAL EQUIPMENT, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PROFICIENT SURGICAL EQUIPMENT, INC. 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