Retirement plan

NORTHERN OHIO EYE CENTER, INC. 401K PROFIT SHARING PLAN

Name: NORTHERN OHIO EYE CENTER, INC. - NORTHERN OHIO EYE CENTER, INC. 401K PROFIT SHARING PLAN (2024) Form 5500
Creator: NORTHERN OHIO EYE CENTER, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORTHERN OHIO EYE CENTER, INC. 401K PROFIT SHARING PLAN, NORTHERN OHIO EYE CENTER, INC.

NORTHERN OHIO EYE CENTER, INC.EIN 34-1893855Plan #001PY 2024

6355 PEARL RD - PARMA HEIGHTS, OH 44130440-886-2020northernohioeye.comLinkedIn1-10 employeesmedical practice

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.6M

-25.2% from 2023

Total participants

0.0% from 2023

Average account balance

$106,991

-25.2% from 2023

Annual return

9.24%

+1.29 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

$1.60M

Not enough data

1 years with asset history on file

Average account balance

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

$107K

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.

115.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$76K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+9.24%

Not enough data

1 years with return on file

Admin fee / account holder

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

$54417

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 codes2E2J3D3H2T2F

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.
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

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

$816K

$62789 / participant

Other / not subdivided$816K100.0%

% of EOY assets

50.861%

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

$106,991

$183,516-41.7%

$155,534-31.2%

$145,884-26.7%

Participation rate

100.0%

82.7%+17.3pp

78.2%+21.8pp

80.3%+19.7pp

Annual return

9.24%

61.43%-52.2pp

64.92%-55.7pp

551.85%-542.6pp

Employer contribution / active EE

$2,805

$5,315-47.2%

$4,675-40.0%

$4,662-39.8%

Participant deferral / active EE

$3,043

$6,467-52.9%

$5,630-46.0%

$6,690-54.5%

Admin fee / account holder

$54,417

$19,293+182.1%

$15,900+242.2%

$13,392+306.3%

NORTHERN OHIO EYE CENTER, INC. 401K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORTHERN OHIO EYE CENTER, INC. 401K PROFIT SHARING 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