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 (2021) 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 2021

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

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$870K

+31.9% from 2020

Total participants

0.0% from 2020

Average account balance

$72,459

+31.9% from 2020

Annual return

18.70%

+12.61 pp from 2020

Benchmarks

See 103,200 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort103,200 peers

Snapshot2021

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

2 tripped

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).

Expense breakdown

Schedule H Part II

Admin total

$8K

$770 / participant

Other / not subdivided$8K100.0%

% of EOY assets

0.886%

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

$72,459

$217,427-66.7%

$185,837-61.0%

$167,518-56.7%

Participation rate

100.0%

86.0%+14.0pp

81.7%+18.3pp

82.1%+17.9pp

Annual return

18.70%

148.39%-129.7pp

122.08%-103.4pp

478.71%-460.0pp

Employer contribution / active EE

$3,000

$5,874-48.9%

$5,168-42.0%

$4,838-38.0%

Participant deferral / active EE

$5,672

$6,357-10.8%

$5,568+1.9%

$6,342-10.6%

Admin fee / account holder

$642

$19,816-96.8%

$16,241-96.0%

$12,312-94.8%

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