Retirement plan

HEMANT PATEL, M.D. PROFIT SHARING PLAN

Name: HEMANT PATEL, M.D., P.C. - HEMANT PATEL, M.D. PROFIT SHARING PLAN (2017) Form 5500
Creator: HEMANT PATEL, M.D., P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HEMANT PATEL, M.D. PROFIT SHARING PLAN, HEMANT PATEL, M.D., P.C.

HEMANT PATEL, M.D., P.C.EIN 13-4087064Plan #002PY 2017

77 WREXHAM ROAD - YONKER, NY 10708718-364-2200LinkedIn51-200 employeesmedical practice

Other plans on this EIN

1 filing

#003Retirement-$3.5M assets

Prospect flagsLow returnsLow fidelity bond

How to read this page

Total assets (EOY)

$4.1M

+15.4% from 2016

Total participants

117

+13.6% from 2016

Average account balance

$35,124

+1.6% from 2016

Annual return

12.08%

+10.71 pp from 2016

Benchmarks

See 17,854 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort17,854 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.90M

Not enough data

1 years with asset history on file

Average account balance

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

$70K

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

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+12.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2323

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 codes2E2H2J2R3D

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.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

2 tripped

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

$7K

$199 / participant

Other / not subdivided$7K100.0%

% of EOY assets

0.179%

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

$35,124

$84,236-58.3%

$170,435-79.4%

$70,126-49.9%

Participation rate

100.0%

70.8%+29.2pp

83.6%+16.4pp

69.5%+30.5pp

Annual return

12.08%

23.06%-11.0pp

205.94%-193.9pp

73.15%-61.1pp

Employer contribution / active EE

$825

$3,387-75.6%

$5,432-84.8%

$2,343-64.8%

Participant deferral / active EE

$2,582

$3,086-16.3%

$4,939-47.7%

$3,332-22.5%

Admin fee / account holder

$63

$5,698-98.9%

$13,881-99.5%

$4,645-98.6%

HEMANT PATEL, M.D. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HEMANT PATEL, M.D. 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