Retirement plan

MICHAEL L. HAMANN, DDS PA PROFIT SHARING PLAN

Name: MICHAEL L. HAMANN, DDS, P.A. - MICHAEL L. HAMANN, DDS PA PROFIT SHARING PLAN (2022) Form 5500
Creator: MICHAEL L. HAMANN, DDS, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MICHAEL L. HAMANN, DDS PA PROFIT SHARING PLAN, MICHAEL L. HAMANN, DDS, P.A.

MICHAEL L. HAMANN, DDS, P.A.EIN 41-1319248Plan #001PY 2022

200 1ST AVE. SO. - PERHAM, MN 56573218-346-4775

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$3.8M

-17.4% from 2021

Total participants

0.0% from 2021

Average account balance

$341,188

-17.4% from 2021

Annual return

-16.00%

-26.92 pp from 2021

Benchmarks

See 105,966 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort105,966 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.58M

Not enough data

1 years with asset history on file

Average account balance

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

$458K

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.

111.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$70K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+10.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$15706

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 codes2E2F2G2J2T3B3D

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$180K

$20028 / participant

Other / not subdivided$180K100.0%

% of EOY assets

4.803%

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

$341,188

$167,352+103.9%

$143,788+137.3%

$134,509+153.7%

Participation rate

100.0%

84.8%+15.2pp

80.3%+19.7pp

81.2%+18.8pp

Annual return

-16.00%

0.47%-16.5pp

-0.03%-16.0pp

418.13%-434.1pp

Employer contribution / active EE

$1,629

$5,620-71.0%

$4,952-67.1%

$4,741-65.6%

Participant deferral / active EE

$7,701

$6,447+19.4%

$5,638+36.6%

$6,400+20.3%

Admin fee / account holder

$16,387

$18,091-9.4%

$14,675+11.7%

$11,427+43.4%

MICHAEL L. HAMANN, DDS PA PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MICHAEL L. HAMANN, DDS PA 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