Retirement plan

MICHAEL P. BERNSTEIN, M. D. 401(K) RETIREMENT PLAN

Name: MICHAEL P. BERNSTEIN, M.D. - MICHAEL P. BERNSTEIN, M. D. 401(K) RETIREMENT PLAN (2020) Form 5500
Creator: MICHAEL P. BERNSTEIN, M.D.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MICHAEL P. BERNSTEIN, M. D. 401(K) RETIREMENT PLAN, MICHAEL P. BERNSTEIN, M.D.

MICHAEL P. BERNSTEIN, M.D.EIN 30-0826646Plan #001PY 2020

146 HAZARD AVE., SUITE 204 - ENFIELD, CT 06082860-763-3243michaelbernsteinmd.comLinkedIn1-10 employeesmedical practice

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$636K

+30.7% from 2019

Total participants

+33.3% from 2019

Average account balance

$159,114

-2.0% from 2019

Annual return

18.49%

-3.83 pp from 2019

Benchmarks

See 102,105 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort102,105 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.42M

Not enough data

1 years with asset history on file

Average account balance

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

$284K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$106K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$21K

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

+18.60%

Not enough data

1 years with return on file

Admin fee / account holder

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

$15

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 codes2E2F2G2J2T3D

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.
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

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

$130

$33 / participant

Other / not subdivided$130100.0%

% of EOY assets

0.020%

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

$159,114

$209,428-24.0%

$178,498-10.9%

$158,950+0.1%

Participation rate

100.0%

86.4%+13.6pp

81.9%+18.1pp

82.0%+18.0pp

Annual return

18.49%

188.78%-170.3pp

151.09%-132.6pp

302.91%-284.4pp

Employer contribution / active EE

$2,484

$5,707-56.5%

$5,011-50.4%

$4,762-47.8%

Participant deferral / active EE

$12,408

$5,955+108.4%

$5,202+138.5%

$5,983+107.4%

Admin fee / account holder

$33

$17,077-99.8%

$13,985-99.8%

$11,248-99.7%

MICHAEL P. BERNSTEIN, M. D. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MICHAEL P. BERNSTEIN, M. D. 401(K) RETIREMENT 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