Retirement plan

NORTH OCEAN MEDICAL GROUP, P.C. PROFIT SHARING 401K PLAN

Name: NORTH OCEAN MEDICAL GROUP, P.C. - NORTH OCEAN MEDICAL GROUP, P.C. PROFIT SHARING 401K PLAN (2024) Form 5500
Creator: NORTH OCEAN MEDICAL GROUP, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORTH OCEAN MEDICAL GROUP, P.C. PROFIT SHARING 401K PLAN, NORTH OCEAN MEDICAL GROUP, P.C.

NORTH OCEAN MEDICAL GROUP, P.C.EIN 45-4865297Plan #002PY 2024

152 NORTH OCEAN AVENUE - PATCHOGUE, NY 11772631-913-8239LinkedIn1-10 employeesmedical practice

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$108K

+223.4% from 2023

Total participants

0.0% from 2023

Average account balance

$27,018

+223.4% from 2023

Annual return

24.01%

+24.01 pp from 2023

Benchmarks

See 109,389 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort109,389 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$257K

Not enough data

1 years with asset history on file

Average account balance

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

$51K

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.

83.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$63K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+79.80%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2E2G2J2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$906

$302 / participant

Other / not subdivided$906100.0%

% of EOY assets

0.838%

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

$27,018

$183,592-85.3%

$155,574-82.6%

$145,877-81.5%

Participation rate

100.0%

82.7%+17.3pp

78.2%+21.8pp

80.3%+19.7pp

Annual return

24.01%

61.37%-37.4pp

64.87%-40.9pp

551.28%-527.3pp

Employer contribution / active EE

$6,621

$5,317+24.5%

$4,676+41.6%

$4,663+42.0%

Participant deferral / active EE

$15,851

$6,466+145.1%

$5,629+181.6%

$6,691+136.9%

Admin fee / account holder

$227

$19,316-98.8%

$15,914-98.6%

$13,402-98.3%

NORTH OCEAN MEDICAL GROUP, P.C. PROFIT SHARING 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORTH OCEAN MEDICAL GROUP, P.C. PROFIT SHARING 401K 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