Retirement plan

HARNATH CLERK, MD PC 401(K) PROFIT SHARING PLAN AND TRUST

Name: HARNATH CLERK, MD PC - HARNATH CLERK, MD PC 401(K) PROFIT SHARING PLAN AND TRUST (2020) Form 5500
Creator: HARNATH CLERK, MD PC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HARNATH CLERK, MD PC 401(K) PROFIT SHARING PLAN AND TRUST, HARNATH CLERK, MD PC

HARNATH CLERK, MD PCEIN 16-1589372Plan #001PY 2020

2610 WILLIAM ST - NEWFANE, NY 141081026716-778-7054drhclerk.comLinkedIn1-10 employeesmedical practice

Prospect flagsHigh feesHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$2.2M

+9.8% from 2019

Total participants

-12.5% from 2019

Average account balance

$367,510

+46.4% from 2019

Annual return

11.04%

-4.71 pp from 2019

Benchmarks

See 36,192 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort36,192 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.18M

Not enough data

1 years with asset history on file

Average account balance

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

$522K

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

$126K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$21K

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

+47.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3201

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 codes2E2F2G2J2T3D2R

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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$133K

$26548 / participant

Other / not subdivided$133K100.0%

% of EOY assets

6.020%

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

$367,510

$100,938+264.1%

$90,461+306.3%

$158,982+131.2%

Participation rate

80.0%

75.0%+5.0pp

72.7%+7.3pp

82.0%-2.0pp

Annual return

11.04%

1727.20%-1716.2pp

1294.76%-1283.7pp

302.99%-292.0pp

Employer contribution / active EE

$11,570

$3,691+213.4%

$3,264+254.5%

$4,763+142.9%

Participant deferral / active EE

$7,614

$4,350+75.0%

$3,964+92.1%

$5,983+27.2%

Admin fee / account holder

$22,124

$6,510+239.9%

$5,617+293.9%

$11,252+96.6%

HARNATH CLERK, MD PC 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HARNATH CLERK, MD PC 401(K) 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