Retirement plan

OPTIMA ENGINEERING, P.A. 401(K) PROFIT SHARING PLAN

Name: OPTIMA ENGINEERING, P.A. - OPTIMA ENGINEERING, P.A. 401(K) PROFIT SHARING PLAN (2019) Form 5500
Creator: OPTIMA ENGINEERING, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OPTIMA ENGINEERING, P.A. 401(K) PROFIT SHARING PLAN, OPTIMA ENGINEERING, P.A.

OPTIMA ENGINEERING, P.A.EIN 56-1784686Plan #001PY 2019

1927 SOUTH TRYON STREET, SUITE 300 - CHARLOTTE, NC 28203704-338-1292optimapa.comLinkedIn51-200 employeesinformation technology and services

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$9.3M

+9.8% from 2018

Total participants

+6.4% from 2018

Average account balance

$116,256

-1.2% from 2018

Annual return

4.13%

-6.55 pp from 2018

Benchmarks

See 25,909 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort25,909 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$22.54M

Not enough data

1 years with asset history on file

Average account balance

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

$219K

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.

103

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

$1.27M

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

+12.36%

Not enough data

1 years with return on file

Admin fee / account holder

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

$7611

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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$321K

$4863 / participant

Other / not subdivided$321K100.0%

% of EOY assets

3.451%

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

$116,256

$89,370+30.1%

$141,197-17.7%

$72,976+59.3%

Participation rate

95.5%

75.1%+20.3pp

82.5%+13.0pp

69.5%+26.0pp

Annual return

4.13%

111.88%-107.7pp

71.41%-67.3pp

81.02%-76.9pp

Employer contribution / active EE

$5,625

$3,115+80.6%

$4,736+18.8%

$2,440+130.5%

Participant deferral / active EE

$6,458

$5,419+19.2%

$6,710-3.8%

$3,608+79.0%

Admin fee / account holder

$4,012

$5,957-32.7%

$10,265-60.9%

$5,124-21.7%

OPTIMA ENGINEERING, P.A. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OPTIMA ENGINEERING, P.A. 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