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 (2022) 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 2022

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

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$1.7M

-39.1% from 2021

Total participants

0.0% from 2021

Average account balance

$241,627

-39.1% from 2021

Annual return

-42.77%

-64.03 pp from 2021

Benchmarks

See 39,322 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort39,322 peers

Snapshot2022

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 codes2E2G2J2T2F3D2R

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

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

$14K

$2750 / participant

Other / not subdivided$14K100.0%

% of EOY assets

0.813%

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

$241,627

$92,684+160.7%

$82,706+192.2%

$134,509+79.6%

Participation rate

100.0%

75.2%+24.8pp

72.6%+27.4pp

81.2%+18.8pp

Annual return

-42.77%

945.84%-988.6pp

701.76%-744.5pp

418.13%-460.9pp

Employer contribution / active EE

$12,273

$3,272+275.1%

$3,007+308.1%

$4,741+158.9%

Participant deferral / active EE

$8,351

$4,800+74.0%

$4,394+90.1%

$6,400+30.5%

Admin fee / account holder

$1,964

$5,982-67.2%

$5,329-63.1%

$11,427-82.8%

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