Retirement plan

MICHAEL D. CUMMINGS, DMD 401(K) PROFIT SHARING PLAN

Name: MICHAEL D. CUMMINGS, DMD - MICHAEL D. CUMMINGS, DMD 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: MICHAEL D. CUMMINGS, DMD
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MICHAEL D. CUMMINGS, DMD 401(K) PROFIT SHARING PLAN, MICHAEL D. CUMMINGS, DMD

MICHAEL D. CUMMINGS, DMDEIN 61-1142852Plan #001PY 2024

2465 DIXIE HIGHWAY - FT. MITCHELL, KY 410172116859-341-5300LinkedIn1-10 employeeshospital & health care

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.3M

+20.3% from 2023

Total participants

+7.1% from 2023

Average account balance

$84,117

+12.3% from 2023

Annual return

10.28%

-0.49 pp from 2023

Benchmarks

See 109,510 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort109,510 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.26M

Not enough data

1 years with asset history on file

Average account balance

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

$84K

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.

136.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$105K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+10.28%

Not enough data

1 years with return on file

Admin fee / account holder

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

$720

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 codes2E2J3B3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$11K

$982 / participant

Other / not subdivided$11K100.0%

% of EOY assets

0.856%

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

$84,117

$183,627-54.2%

$155,602-45.9%

$145,978-42.4%

Participation rate

100.0%

82.7%+17.3pp

78.2%+21.8pp

80.3%+19.7pp

Annual return

10.28%

61.32%-51.0pp

64.81%-54.5pp

550.52%-540.2pp

Employer contribution / active EE

$1,992

$5,316-62.5%

$4,675-57.4%

$4,662-57.3%

Participant deferral / active EE

$7,551

$6,466+16.8%

$5,629+34.2%

$6,690+12.9%

Admin fee / account holder

$720

$19,327-96.3%

$15,923-95.5%

$13,400-94.6%

MICHAEL D. CUMMINGS, DMD 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MICHAEL D. CUMMINGS, DMD 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