Retirement plan

FREEDMAN & HAAS, P.A. PROFIT SHARING PLAN

Name: FREEDMAN & HAAS, P.A. - FREEDMAN & HAAS, P.A. PROFIT SHARING PLAN (2023) Form 5500
Creator: FREEDMAN & HAAS, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FREEDMAN & HAAS, P.A. PROFIT SHARING PLAN, FREEDMAN & HAAS, P.A.

FREEDMAN & HAAS, P.A.EIN 65-0340813Plan #001PY 2023

2424 S. DIXIE HIGHWAY - WEST PALM BEACH, FL 33401561-659-7660bracesbyfreedmanhaas.comLinkedIn11-50 employeesmedical practice

Prospect flagsLow participant contribution

How to read this page

Total assets (EOY)

$2.6M

+20.5% from 2022

Total participants

+36.4% from 2022

Average account balance

$187,820

-5.3% from 2022

Annual return

15.82%

+36.89 pp from 2022

Benchmarks

See 108,045 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort108,045 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$312K

Not enough data

1 years with asset history on file

Average account balance

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

$45K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$87K

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

+6.89%

Not enough data

1 years with return on file

Admin fee / account holder

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

$370111

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 codes2E2F2G2J3D

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.
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

OpportunityLow participant contribution
Participant 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

$187,820

$175,257+7.2%

$149,717+25.5%

$139,456+34.7%

Participation rate

87.5%

83.4%+4.1pp

78.8%+8.7pp

80.3%+7.2pp

Annual return

15.82%

166.70%-150.9pp

134.41%-118.6pp

373.45%-357.6pp

Employer contribution / active EE

$12,875

$5,477+135.1%

$4,820+167.1%

$4,753+170.9%

Participant deferral / active EE

$6,521-100.0%

$5,682-100.0%

$6,711-100.0%

Admin fee / account holder

$16,156-100.0%

$13,213-100.0%

$11,407-100.0%

FREEDMAN & HAAS, P.A. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

FREEDMAN & HAAS, P.A. PROFIT SHARING 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