Retirement plan

DAVID J. PATTON, M.D., INC. 401(K) AND PROFIT SHARING PLAN

Name: DAVID J. PATTON, M.D., INC. - DAVID J. PATTON, M.D., INC. 401(K) AND PROFIT SHARING PLAN (2023) Form 5500
Creator: DAVID J. PATTON, M.D., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DAVID J. PATTON, M.D., INC. 401(K) AND PROFIT SHARING PLAN, DAVID J. PATTON, M.D., INC.

DAVID J. PATTON, M.D., INC.EIN 26-3701675Plan #001PY 2023

108 WASHINGTON STREET WEST - CHARLESTON, WV 25302304-345-4525drpatton.comLinkedIn1-10 employees

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$549K

+40.1% from 2022

Total participants

+11.1% from 2022

Average account balance

$10,990

+26.0% from 2022

Annual return

12.81%

+21.09 pp from 2022

Benchmarks

See 20,801 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort20,801 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$815K

Not enough data

1 years with asset history on file

Average account balance

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

$14K

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.

129.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$154K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+21.29%

Not enough data

1 years with return on file

Admin fee / account holder

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

$111

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 codes2E2F2G2J3D

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.
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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$34K

$791 / participant

Other / not subdivided$34K100.0%

% of EOY assets

6.192%

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

$10,990

$77,908-85.9%

$149,696-92.7%

$75,173-85.4%

Participation rate

100.0%

65.6%+34.4pp

78.8%+21.2pp

67.2%+32.8pp

Annual return

12.81%

31.73%-18.9pp

134.46%-121.6pp

160.72%-147.9pp

Employer contribution / active EE

$2,050

$3,138-34.7%

$4,821-57.5%

$2,671-23.3%

Participant deferral / active EE

$1,227

$3,411-64.0%

$5,682-78.4%

$4,126-70.3%

Admin fee / account holder

$680

$5,950-88.6%

$13,212-94.8%

$5,651-88.0%

DAVID J. PATTON, M.D., INC. 401(K) AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DAVID J. PATTON, M.D., INC. 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