Retirement plan

NORTHCOAST DERMATOLOGY ASSOCIATES, INC. PROFIT SHARING TRUST

Name: NORTHCOAST DERMATOLOGY ASSOCIATES, INC. - NORTHCOAST DERMATOLOGY ASSOCIATES, INC. PROFIT SHARING TRUST (2023) Form 5500
Creator: NORTHCOAST DERMATOLOGY ASSOCIATES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORTHCOAST DERMATOLOGY ASSOCIATES, INC. PROFIT SHARING TRUST, NORTHCOAST DERMATOLOGY ASSOCIATES, INC.

NORTHCOAST DERMATOLOGY ASSOCIATES, INC.EIN 34-1834531Plan #001PY 2023

ONE INDEPENDENCE PLACE, 4807 ROCKSIDE ROAD, SUITE 100 - INDEPENDENCE, OH 44131216-524-4009northcoastdermatology.comLinkedIn11-50 employeesmedical practice

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$4.7M

+16.0% from 2022

Total participants

+10.5% from 2022

Average account balance

$235,272

+10.2% from 2022

Annual return

14.16%

+30.62 pp from 2022

Benchmarks

See 108,045 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort108,045 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.45M

Not enough data

1 years with asset history on file

Average account balance

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

$307K

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.

140.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$280K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$19K

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

+15.97%

Not enough data

1 years with return on file

Admin fee / account holder

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

$875

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 codes2E2T2J3D2F

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).
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

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

$202K

$11196 / participant

Other / not subdivided$202K100.0%

% of EOY assets

4.283%

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

$235,272

$175,257+34.2%

$149,717+57.1%

$139,456+68.7%

Participation rate

94.4%

83.4%+11.1pp

78.8%+15.7pp

80.3%+14.1pp

Annual return

14.16%

166.70%-152.5pp

134.41%-120.3pp

373.45%-359.3pp

Employer contribution / active EE

$8,903

$5,477+62.6%

$4,820+84.7%

$4,753+87.3%

Participant deferral / active EE

$6,418

$6,521-1.6%

$5,682+12.9%

$6,711-4.4%

Admin fee / account holder

$10,076

$16,156-37.6%

$13,213-23.7%

$11,407-11.7%

NORTHCOAST DERMATOLOGY ASSOCIATES, INC. PROFIT SHARING TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORTHCOAST DERMATOLOGY ASSOCIATES, INC. PROFIT SHARING 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