Retirement plan

SOUTHERN SHORES EYE CENTER, P.A. 401(K) PLAN

Name: SOUTHERN SHORES EYE CENTER, P.A. - SOUTHERN SHORES EYE CENTER, P.A. 401(K) PLAN (2023) Form 5500
Creator: SOUTHERN SHORES EYE CENTER, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOUTHERN SHORES EYE CENTER, P.A. 401(K) PLAN, SOUTHERN SHORES EYE CENTER, P.A.

SOUTHERN SHORES EYE CENTER, P.A.EIN 22-2626489Plan #001PY 2023

1206 ROUTE 72 WEST - MANAHAWKIN, NJ 08050609-597-8087southernshoreseyecenter.comLinkedIn11-50 employeesmedical practice

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$9.3M

+17.9% from 2022

Total participants

0.0% from 2022

Average account balance

$344,540

+13.5% from 2022

Annual return

15.99%

+27.50 pp from 2022

Benchmarks

See 20,804 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort20,804 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.16M

Not enough data

1 years with asset history on file

Average account balance

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

$366K

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.

125.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$204K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+14.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$68315

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.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$70K

$2789 / participant

Other / not subdivided$70K100.0%

% of EOY assets

0.750%

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

$344,540

$77,901+342.3%

$149,717+130.1%

$75,181+358.3%

Participation rate

84.0%

65.6%+18.4pp

78.8%+5.2pp

67.2%+16.8pp

Annual return

15.99%

31.73%-15.7pp

134.41%-118.4pp

160.69%-144.7pp

Employer contribution / active EE

$2,137

$3,137-31.9%

$4,820-55.7%

$2,671-20.0%

Participant deferral / active EE

$6,560

$3,411+92.3%

$5,682+15.5%

$4,126+59.0%

Admin fee / account holder

$2,583

$5,949-56.6%

$13,213-80.5%

$5,650-54.3%

SOUTHERN SHORES EYE CENTER, P.A. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOUTHERN SHORES EYE CENTER, P.A. 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