Retirement plan

BEACH EYE MEDICAL GROUP 401(K) PLAN

Name: BEACH EYE MEDICAL GROUP - BEACH EYE MEDICAL GROUP 401(K) PLAN (2024) Form 5500
Creator: BEACH EYE MEDICAL GROUP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BEACH EYE MEDICAL GROUP 401(K) PLAN, BEACH EYE MEDICAL GROUP

BEACH EYE MEDICAL GROUPEIN 27-2936708Plan #001PY 2024

18582 MAIN STREET - HUNTINGTON BEACH, CA 92648714-965-9696beacheye.comLinkedIn11-50 employeesmedical practice

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$705K

+27.4% from 2023

Total participants

+52.2% from 2023

Average account balance

$23,514

-15.1% from 2023

Annual return

16.26%

-4.26 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

$705K

Not enough data

1 years with asset history on file

Average account balance

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

$24K

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.

130.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$101K

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

+16.26%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1339

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 codes2F2G2J2T3D3H

Plan features

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$40K

$1746 / participant

Other / not subdivided$40K100.0%

% of EOY assets

5.694%

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

$23,514

$183,516-87.2%

$155,534-84.9%

$145,884-83.9%

Participation rate

78.3%

82.7%-4.4pp

78.2%0pp

80.3%-2.0pp

Annual return

16.26%

61.43%-45.2pp

64.92%-48.7pp

551.85%-535.6pp

Employer contribution / active EE

$1,570

$5,315-70.5%

$4,675-66.4%

$4,662-66.3%

Participant deferral / active EE

$2,801

$6,467-56.7%

$5,630-50.3%

$6,690-58.1%

Admin fee / account holder

$1,339

$19,293-93.1%

$15,900-91.6%

$13,392-90.0%

BEACH EYE MEDICAL GROUP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BEACH EYE MEDICAL GROUP 401(K) 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