Retirement plan

THE EYE CENTER OF CENTRAL PA, LLP 401K PROFIT SHARING PLAN

Name: THE EYE CENTER OF CENTRAL PA, LLP - THE EYE CENTER OF CENTRAL PA, LLP 401K PROFIT SHARING PLAN (2023) Form 5500
Creator: THE EYE CENTER OF CENTRAL PA, LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE EYE CENTER OF CENTRAL PA, LLP 401K PROFIT SHARING PLAN, THE EYE CENTER OF CENTRAL PA, LLP

THE EYE CENTER OF CENTRAL PA, LLPEIN 23-2196399Plan #001PY 2023

88 HARDEES DRIVE - MIFFLINBURG, PA 17844570-966-5581theeyecenterofpa.comLinkedIn51-200 employeesmedical practice

Prospect flagsHigh retiree %High fees

How to read this page

Total assets (EOY)

$13.3M

+20.4% from 2022

Total participants

137

0.0% from 2022

Average account balance

$97,225

+20.4% from 2022

Annual return

17.57%

+33.53 pp from 2022

Benchmarks

See 20,797 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort20,797 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.35M

Not enough data

1 years with asset history on file

Average account balance

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

$120K

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.

128

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

$651K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+13.62%

Not enough data

1 years with return on file

Admin fee / account holder

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

$524

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 1 by compensation

Provider	Service type	Compensation
ALERUS FINANCIAL, N.A.9+ years Filed as: ALERUS FINANCIAL Service code 15 · EIN 45-6062081 TWO PINE TREE DRIVE, SUITE 400 · ARDEN HILLS, MN 55112	Recordkeeping	$57,252

Plan features & details

Pension benefit codes2E2F2G2J2A3B3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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.)
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$57K

$718 / participant

Investment mgmt$52K92.5%
Contract admin$4K7.5%

% of EOY assets

0.426%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAKER TILLY US, LLP
Auditor EIN: 301413443
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$97,225

$77,920+24.8%

$149,723-35.1%

$75,177+29.3%

Participation rate

100.0%

65.6%+34.4pp

78.8%+21.2pp

67.2%+32.8pp

Annual return

17.57%

31.72%-14.2pp

134.50%-116.9pp

160.75%-143.2pp

Employer contribution / active EE

$4,092

$3,138+30.4%

$4,821-15.1%

$2,671+53.2%

Participant deferral / active EE

$5,058

$3,411+48.3%

$5,682-11.0%

$4,126+22.6%

Admin fee / account holder

$414

$5,951-93.0%

$13,215-96.9%

$5,651-92.7%

Provider

Service type

Compensation

ALERUS FINANCIAL, N.A.9+ years

Filed as: ALERUS FINANCIAL

Service code 15 · EIN 45-6062081

TWO PINE TREE DRIVE, SUITE 400 · ARDEN HILLS, MN 55112

Recordkeeping

$57,252

THE EYE CENTER OF CENTRAL PA, LLP 401K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE EYE CENTER OF CENTRAL PA, LLP 401K 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