Retirement plan

RACHEL NESS, M.D., PLLC SAFE HARBOR 401(K) PLAN

Name: RACHEL NESS, M.D., PLLC - RACHEL NESS, M.D., PLLC SAFE HARBOR 401(K) PLAN (2021) Form 5500
Creator: RACHEL NESS, M.D., PLLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RACHEL NESS, M.D., PLLC SAFE HARBOR 401(K) PLAN, RACHEL NESS, M.D., PLLC

RACHEL NESS, M.D., PLLCEIN 30-0476402Plan #001PY 2021

3173 43RD STREET SOUTH, SUITE A - FARGO, ND 58104701-478-8780LinkedIn1-10 employeesmedical practice

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.3M

+30.2% from 2020

Total participants

+64.3% from 2020

Average account balance

$79,187

-8.1% from 2020

Annual return

18.25%

-1.25 pp from 2020

Benchmarks

See 103,184 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort103,184 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.03M

Not enough data

1 years with asset history on file

Average account balance

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

$92K

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.

89.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$282K

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

+23.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$931

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

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

$22K

$1059 / participant

Other / not subdivided$22K100.0%

% of EOY assets

1.652%

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

$79,187

$217,432-63.6%

$185,849-57.4%

$167,536-52.7%

Participation rate

71.4%

86.1%-14.6pp

81.7%-10.3pp

82.1%-10.7pp

Annual return

18.25%

148.42%-130.2pp

122.10%-103.8pp

478.82%-460.6pp

Employer contribution / active EE

$3,322

$5,875-43.4%

$5,169-35.7%

$4,839-31.3%

Participant deferral / active EE

$3,371

$6,357-47.0%

$5,569-39.5%

$6,342-46.8%

Admin fee / account holder

$1,308

$19,818-93.4%

$16,244-91.9%

$12,315-89.4%

RACHEL NESS, M.D., PLLC SAFE HARBOR 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RACHEL NESS, M.D., PLLC SAFE HARBOR 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