Retirement plan

VEENA NAYAK, M.D., S.C. PROFIT SHARING PLAN

Name: VEENA NAYAK, M.D., S.C. - VEENA NAYAK, M.D., S.C. PROFIT SHARING PLAN (2024) Form 5500
Creator: VEENA NAYAK, M.D., S.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VEENA NAYAK, M.D., S.C. PROFIT SHARING PLAN, VEENA NAYAK, M.D., S.C.

VEENA NAYAK, M.D., S.C.EIN 36-4142062Plan #001PY 2024

20060 GOVENORS DRIVE SUITE 300 - OLYMPIA FIELDS, IL 60461708-283-2600

Prospect flagsHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$6.1M

+66.2% from 2023

Total participants

+50.0% from 2023

Average account balance

$762,920

+24.7% from 2023

Annual return

65.10%

+2.65 pp from 2023

Benchmarks

See 109,510 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort109,510 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.10M

Not enough data

1 years with asset history on file

Average account balance

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

$763K

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

$41K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+65.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$16

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 codes2E2F2G2J3D3H

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.
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

2 tripped

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$125

$16 / participant

Other / not subdivided$125100.0%

% of EOY assets

0.002%

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

$762,920

$183,627+315.5%

$155,602+390.3%

$145,978+422.6%

Participation rate

87.5%

82.7%+4.8pp

78.2%+9.3pp

80.3%+7.2pp

Annual return

65.10%

61.32%+3.8pp

64.81%+0.3pp

550.52%-485.4pp

Employer contribution / active EE

$2,406

$5,316-54.7%

$4,675-48.5%

$4,662-48.4%

Participant deferral / active EE

$2,728

$6,466-57.8%

$5,629-51.5%

$6,690-59.2%

Admin fee / account holder

$16

$19,327-99.9%

$15,923-99.9%

$13,400-99.9%

VEENA NAYAK, M.D., S.C. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VEENA NAYAK, M.D., S.C. 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