Retirement plan

WEST CHESTER CARDIOLOGY PC 401(K) PROFIT SHARING PLAN & TRUST

Name: WEST CHESTER CARDIOLOGY PC - WEST CHESTER CARDIOLOGY PC 401(K) PROFIT SHARING PLAN & TRUST (2023) Form 5500
Creator: WEST CHESTER CARDIOLOGY PC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WEST CHESTER CARDIOLOGY PC 401(K) PROFIT SHARING PLAN & TRUST, WEST CHESTER CARDIOLOGY PC

WEST CHESTER CARDIOLOGY PCEIN 23-2076675Plan #001PY 2023

531 MAPLE AVE - WEST CHESTER, PA 19380610-692-4382westchestercardiology.comLinkedIn11-50 employeesmedical practice

Prospect flagsHigh feesLow assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$511K

+31.2% from 2022

Total participants

+20.0% from 2022

Average account balance

$15,033

+8.0% from 2022

Annual return

12.61%

+27.84 pp from 2022

Benchmarks

See 108,045 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort108,045 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$840K

Not enough data

1 years with asset history on file

Average account balance

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

$20K

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.

178.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$122K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+14.22%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1200

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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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

$46K

$2195 / participant

Other / not subdivided$46K100.0%

% of EOY assets

9.018%

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

$15,033

$175,257-91.4%

$149,717-90.0%

$139,456-89.2%

Participation rate

90.5%

83.4%+7.1pp

78.8%+11.7pp

80.3%+10.1pp

Annual return

12.61%

166.70%-154.1pp

134.41%-121.8pp

373.45%-360.8pp

Employer contribution / active EE

$2,346

$5,477-57.2%

$4,820-51.3%

$4,753-50.6%

Participant deferral / active EE

$2,907

$6,521-55.4%

$5,682-48.8%

$6,711-56.7%

Admin fee / account holder

$1,356

$16,156-91.6%

$13,213-89.7%

$11,407-88.1%

WEST CHESTER CARDIOLOGY PC 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WEST CHESTER CARDIOLOGY PC 401(K) PROFIT SHARING PLAN & TRUST

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