Retirement plan

BERMAN FAMILY CHIROPRACTIC, INC. 401(K) PROFIT SHARING PLAN

Name: BERMAN FAMILY CHIROPRACTIC, INC. - BERMAN FAMILY CHIROPRACTIC, INC. 401(K) PROFIT SHARING PLAN (2019) Form 5500
Creator: BERMAN FAMILY CHIROPRACTIC, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BERMAN FAMILY CHIROPRACTIC, INC. 401(K) PROFIT SHARING PLAN, BERMAN FAMILY CHIROPRACTIC, INC.

BERMAN FAMILY CHIROPRACTIC, INC.EIN 54-1855608Plan #002PY 2019

869 JOHN MARSHALL HWY. STE. B - FRONT ROYAL, VA 22630540-636-8770LinkedIn1-10 employeesmedical practice

Prospect flagsLow returnsHigh feesHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$1.5M

-0.5% from 2018

Total participants

-20.0% from 2018

Average account balance

$378,245

+24.3% from 2018

Annual return

-2.97%

-6.45 pp from 2018

Benchmarks

See 104,307 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort104,307 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.66M

Not enough data

1 years with asset history on file

Average account balance

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

$664K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$116K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$29K

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

+10.40%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5846

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 codes2E2J2F2G3D2T

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

4 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$14K

$3614 / participant

Other / not subdivided$14K100.0%

% of EOY assets

0.955%

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

$378,245

$202,342+86.9%

$172,752+119.0%

$152,897+147.4%

Participation rate

100.0%

87.1%+12.9pp

82.6%+17.4pp

82.5%+17.5pp

Annual return

-2.97%

1029.83%-1032.8pp

802.97%-805.9pp

345.43%-348.4pp

Employer contribution / active EE

$1,723

$5,858-70.6%

$5,144-66.5%

$4,764-63.8%

Participant deferral / active EE

$8,367

$5,948+40.7%

$5,198+61.0%

$5,851+43.0%

Admin fee / account holder

$3,614

$17,111-78.9%

$13,955-74.1%

$11,599-68.8%

BERMAN FAMILY CHIROPRACTIC, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BERMAN FAMILY CHIROPRACTIC, INC. 401(K) PROFIT SHARING 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