Retirement plan

PROFICIENT SURGICAL EQUIPMENT, INC. PROFIT SHARING PLAN

Name: PROFICIENT SURGICAL EQUIPMENT, INC. - PROFICIENT SURGICAL EQUIPMENT, INC. PROFIT SHARING PLAN (2022) 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 2022

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)

$2.5M

-22.8% from 2021

Total participants

-4.5% from 2021

Average account balance

$121,195

-19.1% from 2021

Annual return

-29.06%

-37.40 pp from 2021

Benchmarks

See 23,464 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,464 peers

Snapshot2022

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

$41K

$2895 / participant

Other / not subdivided$41K100.0%

% of EOY assets

1.592%

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

$121,195

$142,392-14.9%

$119,622+1.3%

$134,532-9.9%

Participation rate

100.0%

82.8%+17.2pp

79.3%+20.7pp

81.2%+18.8pp

Annual return

-29.06%

-12.46%-16.6pp

-14.98%-14.1pp

418.27%-447.3pp

Employer contribution / active EE

$4,808

$5,224-8.0%

$4,232+13.6%

$4,741+1.4%

Participant deferral / active EE

$10,886

$6,467+68.3%

$5,601+94.4%

$6,401+70.1%

Admin fee / account holder

$1,930

$13,593-85.8%

$10,328-81.3%

$11,429-83.1%

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