Retirement plan

RICHARD AND MICHELLE LIPSHULTZ DMD PROFIT SHARING PLAN

Name: RICHARD AND MICHELLE LIPSHULTZ DMD - RICHARD AND MICHELLE LIPSHULTZ DMD PROFIT SHARING PLAN (2022) Form 5500
Creator: RICHARD AND MICHELLE LIPSHULTZ DMD
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RICHARD AND MICHELLE LIPSHULTZ DMD PROFIT SHARING PLAN, RICHARD AND MICHELLE LIPSHULTZ DMD

RICHARD AND MICHELLE LIPSHULTZ DMDEIN 22-3267445Plan #001PY 2022

586 KNICKERBOCKER ROAD - CRESSKILL, NJ 07626201-568-2823

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.5M

-8.6% from 2021

Total participants

+30.0% from 2021

Average account balance

$117,779

-29.7% from 2021

Annual return

-7.68%

-15.09 pp from 2021

Benchmarks

See 105,930 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort105,930 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.08M

Not enough data

1 years with asset history on file

Average account balance

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

$160K

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.

118.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$24K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+17.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2858

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 codes3D3B2E2F2G2J2T

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$95K

$8653 / participant

Other / not subdivided$95K100.0%

% of EOY assets

6.216%

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

$117,779

$167,353-29.6%

$143,797-18.1%

$134,545-12.5%

Participation rate

100.0%

84.8%+15.2pp

80.3%+19.7pp

81.2%+18.8pp

Annual return

-7.68%

0.48%-8.2pp

-0.04%-7.6pp

418.37%-426.1pp

Employer contribution / active EE

$1,832

$5,620-67.4%

$4,952-63.0%

$4,742-61.4%

Participant deferral / active EE

$5,438

$6,447-15.7%

$5,638-3.6%

$6,401-15.1%

Admin fee / account holder

$7,321

$18,096-59.5%

$14,679-50.1%

$11,431-35.9%

RICHARD AND MICHELLE LIPSHULTZ DMD PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RICHARD AND MICHELLE LIPSHULTZ DMD 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