Retirement plan

HERBERT NEW AND DAVID W. NEW, P.C. PROFIT SHARING 401(K) PLAN

Name: DAVID W. NEW, P.C. - HERBERT NEW AND DAVID W. NEW, P.C. PROFIT SHARING 401(K) PLAN (2024) Form 5500
Creator: DAVID W. NEW, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HERBERT NEW AND DAVID W. NEW, P.C. PROFIT SHARING 401(K) PLAN, DAVID W. NEW, P.C.

DAVID W. NEW, P.C.EIN 22-2553368Plan #001PY 2024

1129 BLOOMFIELD AVE STE 215 - WEST CALDWELL, NJ 070067155862-210-8820

Prospect flagsHigh feesHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$2.5M

+21.5% from 2023

Total participants

0.0% from 2023

Average account balance

$848,114

+21.5% from 2023

Annual return

16.26%

-1.57 pp from 2023

Benchmarks

See 144,092 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort144,092 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.54M

Not enough data

1 years with asset history on file

Average account balance

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

$848K

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

$110K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$37K

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

+16.26%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3173

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 codes2E2F2J2R3D

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).
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

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

$10K

$3173 / participant

Other / not subdivided$10K100.0%

% of EOY assets

0.374%

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

$848,114

$159,934+430.3%

$147,005+476.9%

$145,959+481.1%

Participation rate

100.0%

84.0%+16.0pp

82.2%+17.8pp

80.3%+19.7pp

Annual return

16.26%

98.24%-82.0pp

418.76%-402.5pp

561.95%-545.7pp

Employer contribution / active EE

$17,622

$5,287+233.3%

$4,934+257.1%

$4,661+278.1%

Participant deferral / active EE

$18,934

$8,427+124.7%

$8,070+134.6%

$6,689+183.1%

Admin fee / account holder

$3,173

$15,053-78.9%

$13,006-75.6%

$13,398-76.3%

HERBERT NEW AND DAVID W. NEW, P.C. PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HERBERT NEW AND DAVID W. NEW, P.C. PROFIT SHARING 401(K) 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