Retirement plan

WESTFALL CARDIOLOGY PLLC 401(K) PROFIT SHARING PLAN

Name: WESTFALL CARDIOLOGY PLLC - WESTFALL CARDIOLOGY PLLC 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: WESTFALL CARDIOLOGY PLLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WESTFALL CARDIOLOGY PLLC 401(K) PROFIT SHARING PLAN, WESTFALL CARDIOLOGY PLLC

WESTFALL CARDIOLOGY PLLCEIN 16-1569598Plan #001PY 2024

1870 WINTON ROAD S. BLDG 4 - ROCHESTER, NY 14618585-442-4690LinkedIn11-50 employeesmedical practice

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$6.5M

+13.6% from 2023

Total participants

0.0% from 2023

Average account balance

$125,169

+13.6% from 2023

Annual return

10.03%

-4.98 pp from 2023

Benchmarks

See 21,742 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort21,742 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.51M

Not enough data

1 years with asset history on file

Average account balance

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

$125K

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.

157.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$267K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+10.03%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2004

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 codes2E2F2G2J2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
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

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.

Expense breakdown

Schedule H Part II

Admin total

$104K

$3158 / participant

Other / not subdivided$104K100.0%

% of EOY assets

1.601%

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

$125,169

$81,262+54.0%

$155,602-19.6%

$80,911+54.7%

Participation rate

100.0%

66.2%+33.8pp

78.2%+21.8pp

67.6%+32.4pp

Annual return

10.03%

33.34%-23.3pp

64.81%-54.8pp

35.63%-25.6pp

Employer contribution / active EE

$1,888

$3,102-39.1%

$4,675-59.6%

$2,756-31.5%

Participant deferral / active EE

$6,211

$3,451+80.0%

$5,629+10.3%

$4,297+44.5%

Admin fee / account holder

$2,004

$7,992-74.9%

$15,923-87.4%

$6,935-71.1%

WESTFALL CARDIOLOGY PLLC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WESTFALL CARDIOLOGY PLLC 401(K) 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