Retirement plan

ELECTROSTIM MEDICAL SERVICES, INC. SAFE HARBOR 401(K) PLAN

Name: ELECTROSTIM MEDICAL SERVICES, INC. - ELECTROSTIM MEDICAL SERVICES, INC. SAFE HARBOR 401(K) PLAN (2020) Form 5500
Creator: ELECTROSTIM MEDICAL SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ELECTROSTIM MEDICAL SERVICES, INC. SAFE HARBOR 401(K) PLAN, ELECTROSTIM MEDICAL SERVICES, INC.

ELECTROSTIM MEDICAL SERVICES, INC.EIN 59-3323767Plan #001PY 2020

3504 CRAGMONT DRIVE, SUITE 100 - TAMPA, FL 33619813-931-2369

Prospect flagsHigh feesLow participationLow fidelity bondFailed to transmit contributions

How to read this page

Total assets (EOY)

$18.4M

+14.9% from 2019

Total participants

417

-4.8% from 2019

Average account balance

$71,710

+21.1% from 2019

Annual return

14.90%

-8.92 pp from 2019

Benchmarks

See 1,266 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants250-999

Cohort1,266 peers

Snapshot2020

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Analytics

Total assets (EOY)

Plan-year ending balance

$23.94M

Not enough data

1 years with asset history on file

Average account balance

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

$94K

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.

255

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.

76.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.55M

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

+13.63%

Not enough data

1 years with return on file

Admin fee / account holder

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

$400

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

1 years with F_SCH_H allocation on file

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 3937 TAMPA RD, SUITE 4 · OLDSMAR, FL 33467	Contract Administrator	$82,250
PSI ADVISORS LLC3 years Service code 27 · EIN 81-4230782	Advisory (Plan)	$19,741
JANET A. PANEBIANCO, CPA, PLLC3 years Service code 13 · EIN 71-1039549 17852 N US HWY 41 · LUTZ, FL 335494502	Contract Administrator	$125
PRINCIPAL LIFE INSURANCE COMPANY4 years Filed as: PRINCIPAL SECURITIES INC Service code 49 · EIN 42-0941553	Other Services	$0
WILSHIRE ASSOCIATES INCORPORATED6+ years Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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).
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$82K

$228 / participant

Contract admin$82K100.0%

% of EOY assets

0.447%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BELLA HERMIDA VALIENTE PA
Auditor EIN: 593258909
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$71,710

$78,419-8.6%

$133,956-46.5%

$73,409-2.3%

Participation rate

55.8%

78.6%-22.8pp

79.8%-24.0pp

72.2%-16.4pp

Annual return

14.90%

33.35%-18.4pp

45.09%-30.2pp

59.29%-44.4pp

Employer contribution / active EE

$1,528

$2,044-25.2%

$3,919-61.0%

$2,234-31.6%

Participant deferral / active EE

$2,858

$3,925-27.2%

$5,048-43.4%

$3,805-24.9%

Admin fee / account holder

$321

$161+98.7%

$8,927-96.4%

$158+103.0%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY6+ years

Service code 13 · EIN 42-0127290

3937 TAMPA RD, SUITE 4 · OLDSMAR, FL 33467

Contract Administrator

$82,250

PSI ADVISORS LLC3 years

Service code 27 · EIN 81-4230782

Advisory (Plan)

$19,741

JANET A. PANEBIANCO, CPA, PLLC3 years

Service code 13 · EIN 71-1039549

17852 N US HWY 41 · LUTZ, FL 335494502

Contract Administrator

$125

PRINCIPAL LIFE INSURANCE COMPANY4 years

Filed as: PRINCIPAL SECURITIES INC

Service code 49 · EIN 42-0941553

Other Services

WILSHIRE ASSOCIATES INCORPORATED6+ years

Service code 27 · EIN 95-2755361

Advisory (Plan)

ELECTROSTIM MEDICAL SERVICES, INC. SAFE HARBOR 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ELECTROSTIM MEDICAL SERVICES, INC. SAFE HARBOR 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