Retirement plan

MIKE ENICH DENTAL, PLCC 401K PLAN

Name: MIKE ENICH DENTAL, PLCC - MIKE ENICH DENTAL, PLCC 401K PLAN (2024) Form 5500
Creator: MIKE ENICH DENTAL, PLCC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIKE ENICH DENTAL, PLCC 401K PLAN, MIKE ENICH DENTAL, PLCC

MIKE ENICH DENTAL, PLCCEIN 47-1132757Plan #001PY 2024

2005 8TH AVENUE EAST - HIBBING, MN 55746218-263-8348LinkedIn1-10 employeesmedical practice

Prospect flagsLow returnsLow fidelity bond

How to read this page

Total assets (EOY)

$491K

+21.1% from 2023

Total participants

+12.5% from 2023

Average account balance

$54,576

+7.6% from 2023

Annual return

7.34%

-7.29 pp from 2023

Benchmarks

See 109,298 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort109,298 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$491K

Not enough data

1 years with asset history on file

Average account balance

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

$55K

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.

112.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$56K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+7.34%

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 codes2E2F2G2J3D

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.
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

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

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

$54,576

$183,516-70.3%

$155,534-64.9%

$145,884-62.6%

Participation rate

100.0%

82.7%+17.3pp

78.2%+21.8pp

80.3%+19.7pp

Annual return

7.34%

61.43%-54.1pp

64.92%-57.6pp

551.85%-544.5pp

Employer contribution / active EE

$1,699

$5,315-68.0%

$4,675-63.7%

$4,662-63.6%

Participant deferral / active EE

$5,255

$6,467-18.7%

$5,630-6.7%

$6,690-21.4%

Admin fee / account holder

$19,293-100.0%

$15,900-100.0%

$13,392-100.0%

MIKE ENICH DENTAL, PLCC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

MIKE ENICH DENTAL, PLCC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion