Retirement plan

SHORE FAMILY EYECARE, P.A. PROFIT SHARING PLAN

Name: SHORE FAMILY EYECARE, P.A. - SHORE FAMILY EYECARE, P.A. PROFIT SHARING PLAN (2023) Form 5500
Creator: SHORE FAMILY EYECARE, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHORE FAMILY EYECARE, P.A. PROFIT SHARING PLAN, SHORE FAMILY EYECARE, P.A.

SHORE FAMILY EYECARE, P.A.EIN 22-3474554Plan #001PY 2023

136 MAIN STREET - MANASQUAN, NJ 08736732-223-0202lowvision-nj.comLinkedIn1-10 employeesmedical practice

Prospect flagsHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$3.3M

+36.9% from 2022

Total participants

+12.5% from 2022

Average account balance

$367,797

+21.7% from 2022

Annual return

31.79%

+59.82 pp from 2022

Benchmarks

See 107,994 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort107,994 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.15M

Not enough data

1 years with asset history on file

Average account balance

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

$515K

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

$144K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+17.97%

Not enough data

1 years with return on file

Admin fee / account holder

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

$100

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 codes2E2G2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

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

$180

$20 / participant

Other / not subdivided$180100.0%

% of EOY assets

0.005%

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

$367,797

$175,231+109.9%

$149,696+145.7%

$139,466+163.7%

Participation rate

100.0%

83.4%+16.6pp

78.8%+21.2pp

80.3%+19.7pp

Annual return

31.79%

166.77%-135.0pp

134.46%-102.7pp

373.66%-341.9pp

Employer contribution / active EE

$1,941

$5,478-64.6%

$4,821-59.7%

$4,754-59.2%

Participant deferral / active EE

$11,670

$6,521+79.0%

$5,682+105.4%

$6,712+73.9%

Admin fee / account holder

$20

$16,155-99.9%

$13,212-99.8%

$11,409-99.8%

SHORE FAMILY EYECARE, P.A. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHORE FAMILY EYECARE, P.A. 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