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 (2023) 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 2023

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)

$2.1M

+23.5% from 2022

Total participants

0.0% from 2022

Average account balance

$698,071

+23.5% from 2022

Annual return

17.83%

+31.95 pp from 2022

Benchmarks

See 139,766 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort139,766 peers

Snapshot2023

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

$8K

$2543 / participant

Other / not subdivided$8K100.0%

% of EOY assets

0.364%

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

$698,071

$148,623+369.7%

$135,974+413.4%

$139,466+400.5%

Participation rate

100.0%

83.9%+16.1pp

81.9%+18.1pp

80.3%+19.7pp

Annual return

17.83%

79.30%-61.5pp

68.30%-50.5pp

373.66%-355.8pp

Employer contribution / active EE

$13,526

$5,246+157.8%

$4,859+178.4%

$4,754+184.5%

Participant deferral / active EE

$18,678

$8,103+130.5%

$7,760+140.7%

$6,712+178.3%

Admin fee / account holder

$2,543

$12,406-79.5%

$10,767-76.4%

$11,409-77.7%

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