Retirement plan

NORTHERN VIRGINIA OPHTHALMOLOGY ASSOC, PC PSP

Name: NORTHERN VIRGINIA OPHTHAMOLOGY ASSOC., P.C. - NORTHERN VIRGINIA OPHTHALMOLOGY ASSOC, PC PSP (2023) Form 5500
Creator: NORTHERN VIRGINIA OPHTHAMOLOGY ASSOC., P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORTHERN VIRGINIA OPHTHALMOLOGY ASSOC, PC PSP, NORTHERN VIRGINIA OPHTHAMOLOGY ASSOC., P.C.

NORTHERN VIRGINIA OPHTHAMOLOGY ASSOC., P.C.EIN 54-0947196Plan #001PY 2023

6565 ARLINGTON BLVD, SUITE 250 - FALLS CHURCH, VA 22042703-534-3900nvoaeyes.comLinkedIn51-200 employeesmedical practice

Prospect flagsHigh feesRecently reached 100 employees

How to read this page

Total assets (EOY)

$12M

+1.4% from 2022

Total participants

107

+1.9% from 2022

Average account balance

$117,505

-7.6% from 2022

Annual return

14.18%

+27.51 pp from 2022

Benchmarks

See 20,797 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort20,797 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.76M

Not enough data

1 years with asset history on file

Average account balance

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

$103K

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.

114

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.

181.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$750K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+12.20%

Not enough data

1 years with return on file

Admin fee / account holder

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

$21631

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 codes2E3D2G2J2F2T

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.)
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$2.3M

$40889 / participant

Other / not subdivided$2M100.0%

% of EOY assets

19.105%

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

$117,505

$77,920+50.8%

$149,723-21.5%

$75,177+56.3%

Participation rate

91.1%

65.6%+25.5pp

78.8%+12.3pp

67.2%+23.9pp

Annual return

14.18%

31.72%-17.5pp

134.50%-120.3pp

160.75%-146.6pp

Employer contribution / active EE

$3,335

$3,138+6.3%

$4,821-30.8%

$2,671+24.9%

Participant deferral / active EE

$9,990

$3,411+192.8%

$5,682+75.8%

$4,126+142.1%

Admin fee / account holder

$22,449

$5,951+277.3%

$13,215+69.9%

$5,651+297.2%

NORTHERN VIRGINIA OPHTHALMOLOGY ASSOC, PC PSP

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORTHERN VIRGINIA OPHTHALMOLOGY ASSOC, PC PSP

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