Retirement plan

MARK T. SKELTON, DMD, P.C. 401K PLAN

Name: MARK T. SKELTON, DMD - MARK T. SKELTON, DMD, P.C. 401K PLAN (2023) Form 5500
Creator: MARK T. SKELTON, DMD
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MARK T. SKELTON, DMD, P.C. 401K PLAN, MARK T. SKELTON, DMD

MARK T. SKELTON, DMDEIN 63-1277778Plan #001PY 2023

2101 GRAND AVENUE NW - FORT PAYNE, AL 35967256-845-9899LinkedIn1-10 employeesmedical practice

Prospect flagsLow participationLow employer contribution

How to read this page

Total assets (EOY)

$796K

+22.9% from 2022

Total participants

+7.7% from 2022

Average account balance

$88,484

+22.9% from 2022

Annual return

16.64%

+34.14 pp from 2022

Benchmarks

See 107,994 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort107,994 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$955K

Not enough data

1 years with asset history on file

Average account balance

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

$95K

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.

125.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$57K

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

+12.75%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2E2G2J2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

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

$88,484

$175,231-49.5%

$149,696-40.9%

$139,466-36.6%

Participation rate

44.4%

83.4%-38.9pp

78.8%-34.3pp

80.3%-35.9pp

Annual return

16.64%

166.77%-150.1pp

134.46%-117.8pp

373.66%-357.0pp

Employer contribution / active EE

$1,048

$5,478-80.9%

$4,821-78.3%

$4,754-78.0%

Participant deferral / active EE

$3,475

$6,521-46.7%

$5,682-38.8%

$6,712-48.2%

Admin fee / account holder

$16,155-100.0%

$13,212-100.0%

$11,409-100.0%

MARK T. SKELTON, DMD, P.C. 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

MARK T. SKELTON, DMD, P.C. 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion