Retirement plan

PALMER EYECARE CENTER, LLC 401K PLAN

Name: PALMER EYECARE CENTER, LLC - PALMER EYECARE CENTER, LLC 401K PLAN (2023) Form 5500
Creator: PALMER EYECARE CENTER, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PALMER EYECARE CENTER, LLC 401K PLAN, PALMER EYECARE CENTER, LLC

PALMER EYECARE CENTER, LLCEIN 45-5017504Plan #001PY 2023

240 MIDDLETOWN AVE - EAST HAMPTON, CT 064242120860-638-7873palmereyecare.comLinkedIn1-10 employeeshospital & health care

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.8M

+27.1% from 2022

Total participants

0.0% from 2022

Average account balance

$220,838

+27.1% from 2022

Annual return

21.46%

+42.26 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

$2.62M

Not enough data

1 years with asset history on file

Average account balance

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

$524K

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

$102K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+17.36%

Not enough data

1 years with return on file

Admin fee / account holder

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

$20458

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 codes2E2F2G2J2T3D

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.
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

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

$37K

$4155 / participant

Other / not subdivided$37K100.0%

% of EOY assets

2.116%

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

$220,838

$175,257+26.0%

$149,717+47.5%

$139,456+58.4%

Participation rate

77.8%

83.4%-5.6pp

78.8%-1.0pp

80.3%-2.5pp

Annual return

21.46%

166.70%-145.2pp

134.41%-112.9pp

373.45%-352.0pp

Employer contribution / active EE

$2,187

$5,477-60.1%

$4,820-54.6%

$4,753-54.0%

Participant deferral / active EE

$8,748

$6,521+34.1%

$5,682+54.0%

$6,711+30.3%

Admin fee / account holder

$4,674

$16,156-71.1%

$13,213-64.6%

$11,407-59.0%

PALMER EYECARE CENTER, LLC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PALMER EYECARE CENTER, LLC 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