Retirement plan

DERMATOLOGY ASSOCIATES 401(K) AND PROFIT SHARING PLAN

Name: DERMATOLOGY ASSOCIATES OF MORRIS - DERMATOLOGY ASSOCIATES 401(K) AND PROFIT SHARING PLAN (2022) Form 5500
Creator: DERMATOLOGY ASSOCIATES OF MORRIS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DERMATOLOGY ASSOCIATES 401(K) AND PROFIT SHARING PLAN, DERMATOLOGY ASSOCIATES OF MORRIS

DERMATOLOGY ASSOCIATES OF MORRISEIN 22-3094130Plan #002PY 2022

199 BALDWIN RD - PARSIPPANY, NJ 07054973-335-2560dermatologyassociatesofmorris.comLinkedIn11-50 employeesmedical practice

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$7.3M

-15.1% from 2021

Total participants

+4.7% from 2021

Average account balance

$170,224

-17.1% from 2021

Annual return

-19.03%

-31.15 pp from 2021

Benchmarks

See 19,701 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort19,701 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.76M

Not enough data

1 years with asset history on file

Average account balance

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

$317K

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.

125.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$495K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

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

+13.86%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1254

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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$88K

$3252 / participant

Other / not subdivided$88K100.0%

% of EOY assets

1.200%

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

$170,224

$73,863+130.5%

$143,797+18.4%

$68,490+148.5%

Participation rate

92.6%

66.7%+25.9pp

80.3%+12.3pp

67.9%+24.7pp

Annual return

-19.03%

0.91%-19.9pp

-0.04%-19.0pp

-7.85%-11.2pp

Employer contribution / active EE

$7,088

$3,185+122.6%

$4,952+43.1%

$2,597+173.0%

Participant deferral / active EE

$8,249

$3,385+143.7%

$5,638+46.3%

$4,028+104.8%

Admin fee / account holder

$2,042

$5,756-64.5%

$14,679-86.1%

$5,403-62.2%

DERMATOLOGY ASSOCIATES 401(K) AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DERMATOLOGY ASSOCIATES 401(K) AND PROFIT SHARING 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