Retirement plan

MEGHAL V. PARIKH, MD INC. 401(K) PROFIT SHARING PLAN

Name: MEGHAL V. PARIKH, MD INC. - MEGHAL V. PARIKH, MD INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: MEGHAL V. PARIKH, MD INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MEGHAL V. PARIKH, MD INC. 401(K) PROFIT SHARING PLAN, MEGHAL V. PARIKH, MD INC.

MEGHAL V. PARIKH, MD INC.EIN 27-1770819Plan #001PY 2024

2908 G STREET - MERCED, CA 95340760-881-6064

Other plans on this EIN

1 filing

#002Retirement-$1.9M assets

Prospect flagsHigh feesLow employer contribution

How to read this page

Total assets (EOY)

$1M

-20.0% from 2023

Total participants

+5.9% from 2023

Average account balance

$60,709

-20.0% from 2023

Annual return

9.33%

-4.59 pp from 2023

Benchmarks

See 109,298 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort109,298 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.03M

Not enough data

1 years with asset history on file

Average account balance

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

$61K

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.

242.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$65K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+9.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$26027

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 codes2E2H2J2R3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$442K

$63207 / participant

Other / not subdivided$442K100.0%

% of EOY assets

42.871%

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

$60,709

$183,516-66.9%

$155,534-61.0%

$145,884-58.4%

Participation rate

85.7%

82.7%+3.0pp

78.2%+7.5pp

80.3%+5.4pp

Annual return

9.33%

61.43%-52.1pp

64.92%-55.6pp

551.85%-542.5pp

Employer contribution / active EE

$570

$5,315-89.3%

$4,675-87.8%

$4,662-87.8%

Participant deferral / active EE

$8,714

$6,467+34.8%

$5,630+54.8%

$6,690+30.3%

Admin fee / account holder

$26,027

$19,293+34.9%

$15,900+63.7%

$13,392+94.3%

MEGHAL V. PARIKH, MD INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MEGHAL V. PARIKH, MD INC. 401(K) 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