Retirement plan

STERLING OPTICAL 401K PLAN

Name: STERLING OPTICAL - STERLING OPTICAL 401K PLAN (2022) Form 5500
Creator: STERLING OPTICAL
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, STERLING OPTICAL 401K PLAN, STERLING OPTICAL

STERLING OPTICALEIN 27-1114261Plan #001PY 2022

3338 CHOPTANK AVE - BALTIMORE, MD 21220410-916-3261LinkedIn1-10 employeesmedical practice

Prospect flagsLow assets / participant

How to read this page

Total assets (EOY)

$42K

+20.7% from 2021

Total participants

+75.0% from 2021

Average account balance

$6,947

-19.5% from 2021

Annual return

-19.67%

-36.52 pp from 2021

Benchmarks

See 21,416 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants<25

Cohort21,416 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$50K

Not enough data

1 years with asset history on file

Average account balance

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

$12K

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.

80.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$11K

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

+14.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3026

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 codes2E2F2G2J2T3B3D

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

1 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$958

$137 / participant

Other / not subdivided$958100.0%

% of EOY assets

2.299%

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

$6,947

$95,895-92.8%

$79,576-91.3%

$134,509-94.8%

Participation rate

85.7%

75.0%+10.7pp

69.5%+16.2pp

81.2%+4.5pp

Annual return

-19.67%

-2.72%-17.0pp

0.15%-19.8pp

418.13%-437.8pp

Employer contribution / active EE

$553

$3,128-82.3%

$2,413-77.1%

$4,741-88.3%

Participant deferral / active EE

$1,494

$4,693-68.2%

$3,985-62.5%

$6,400-76.7%

Admin fee / account holder

$160

$9,129-98.3%

$6,834-97.7%

$11,427-98.6%

STERLING OPTICAL 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

STERLING OPTICAL 401K 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