Retirement plan

PALMER ORTHODONTICS 401(K) PLAN

Name: MICHELLE A. PALMER, DMD, P.A. - PALMER ORTHODONTICS 401(K) PLAN (2021) Form 5500
Creator: MICHELLE A. PALMER, DMD, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PALMER ORTHODONTICS 401(K) PLAN, MICHELLE A. PALMER, DMD, P.A.

MICHELLE A. PALMER, DMD, P.A.EIN 45-5528879Plan #001PY 2021

7270 BOYNTON BEACH BLVD, SUITE B2 - BOYNTON BEACH, FL 33437561-732-7666

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$513K

+23.1% from 2020

Total participants

+28.6% from 2020

Average account balance

$64,130

-7.7% from 2020

Annual return

14.03%

-0.89 pp from 2020

Benchmarks

See 103,200 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort103,200 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$606K

Not enough data

1 years with asset history on file

Average account balance

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

$76K

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.

200.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$31K

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

+11.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$9935

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 codes2E2G2J3D

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.
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

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$190

$27 / participant

Other / not subdivided$190100.0%

% of EOY assets

0.037%

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

$64,130

$217,427-70.5%

$185,837-65.5%

$167,518-61.7%

Participation rate

85.7%

86.0%-0.3pp

81.7%+4.0pp

82.1%+3.6pp

Annual return

14.03%

148.39%-134.4pp

122.08%-108.0pp

478.71%-464.7pp

Employer contribution / active EE

$1,644

$5,874-72.0%

$5,168-68.2%

$4,838-66.0%

Participant deferral / active EE

$3,739

$6,357-41.2%

$5,568-32.9%

$6,342-41.1%

Admin fee / account holder

$24

$19,816-99.9%

$16,241-99.9%

$12,312-99.8%

PALMER ORTHODONTICS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PALMER ORTHODONTICS 401(K) 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