Retirement plan

BRETT FARNHAM DDS 401(K) PLAN

Name: BRETT FARNHAM DDS, PROFESSIONAL LLC - BRETT FARNHAM DDS 401(K) PLAN (2021) Form 5500
Creator: BRETT FARNHAM DDS, PROFESSIONAL LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BRETT FARNHAM DDS 401(K) PLAN, BRETT FARNHAM DDS, PROFESSIONAL LLC

BRETT FARNHAM DDS, PROFESSIONAL LLCEIN 46-0462941Plan #001PY 2021

2110 NORTH MINNESOTA STREET - MITCHELL, SD 57301605-996-9944

Other plans on this EIN

1 filing

#002Retirement-$2.1M assets

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$2M

+24.3% from 2020

Total participants

+18.8% from 2020

Average account balance

$117,550

+17.0% from 2020

Annual return

14.27%

+2.06 pp from 2020

Benchmarks

See 37,642 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort37,642 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.36M

Not enough data

1 years with asset history on file

Average account balance

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

$102K

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.

135.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$147K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+12.74%

Not enough data

1 years with return on file

Admin fee / account holder

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

$860

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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$7K

$425 / participant

Other / not subdivided$7K100.0%

% of EOY assets

0.361%

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

$117,550

$109,863+7.0%

$98,477+19.4%

$167,518-29.8%

Participation rate

88.2%

75.8%+12.4pp

73.3%+14.9pp

82.1%+6.1pp

Annual return

14.27%

1958.09%-1943.8pp

1493.59%-1479.3pp

478.71%-464.4pp

Employer contribution / active EE

$6,228

$3,225+93.1%

$2,961+110.4%

$4,838+28.7%

Participant deferral / active EE

$3,289

$4,673-29.6%

$4,276-23.1%

$6,342-48.1%

Admin fee / account holder

$425

$6,755-93.7%

$5,951-92.9%

$12,312-96.6%

BRETT FARNHAM DDS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BRETT FARNHAM DDS 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