Retirement plan

MICHAEL L. NERO, D.M.D., LLC 401(K) PLAN AND TRUST

Name: MICHAEL L. NERO, D.M.D., LLC - MICHAEL L. NERO, D.M.D., LLC 401(K) PLAN AND TRUST (2022) Form 5500
Creator: MICHAEL L. NERO, D.M.D., LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MICHAEL L. NERO, D.M.D., LLC 401(K) PLAN AND TRUST, MICHAEL L. NERO, D.M.D., LLC

MICHAEL L. NERO, D.M.D., LLCEIN 32-0224072Plan #001PY 2022

646 MAIN STREET, P. O. BOX 506, P. O. BOX 506 - SOMERS, CT 06071860-749-9911

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.1M

-3.6% from 2021

Total participants

+20.0% from 2021

Average account balance

$176,155

-19.6% from 2021

Annual return

-12.61%

-18.58 pp from 2021

Benchmarks

See 105,930 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort105,930 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.78M

Not enough data

1 years with asset history on file

Average account balance

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

$356K

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.

55.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$125K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+23.18%

Not enough data

1 years with return on file

Admin fee / account holder

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

$10770

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 codes2E2J3B

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.

Opportunity flags

1 tripped

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

$4K

$787 / participant

Other / not subdivided$4K100.0%

% of EOY assets

0.372%

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

$176,155

$167,353+5.3%

$143,797+22.5%

$134,545+30.9%

Participation rate

100.0%

84.8%+15.2pp

80.3%+19.7pp

81.2%+18.8pp

Annual return

-12.61%

0.48%-13.1pp

-0.04%-12.6pp

418.37%-431.0pp

Employer contribution / active EE

$8,932

$5,620+58.9%

$4,952+80.4%

$4,742+88.4%

Participant deferral / active EE

$10,918

$6,447+69.3%

$5,638+93.6%

$6,401+70.6%

Admin fee / account holder

$656

$18,096-96.4%

$14,679-95.5%

$11,431-94.3%

MICHAEL L. NERO, D.M.D., LLC 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MICHAEL L. NERO, D.M.D., LLC 401(K) PLAN AND TRUST

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