Retirement plan

SHERI L. WATKINS, D.M.D., P.A. 401(K) PROFIT SHARING PLAN

Name: SHERI L. WATKINS, D.M.D., P.A. - SHERI L. WATKINS, D.M.D., P.A. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: SHERI L. WATKINS, D.M.D., P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHERI L. WATKINS, D.M.D., P.A. 401(K) PROFIT SHARING PLAN, SHERI L. WATKINS, D.M.D., P.A.

SHERI L. WATKINS, D.M.D., P.A.EIN 65-0820768Plan #001PY 2023

P.O. BOX 1290 - LABELLE, FL 339751290863-674-0799drsheriwatkins.comLinkedIn1-10 employeesmedical practice

Prospect flagsLow returnsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$1.3M

+15.5% from 2022

Total participants

0.0% from 2022

Average account balance

$250,165

+15.5% from 2022

Annual return

9.94%

+24.01 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

$1.43M

Not enough data

1 years with asset history on file

Average account balance

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

$286K

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

$61K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+9.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2003

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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$8K

$1681 / participant

Other / not subdivided$8K100.0%

% of EOY assets

0.672%

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

$250,165

$175,231+42.8%

$149,696+67.1%

$139,466+79.4%

Participation rate

100.0%

83.4%+16.6pp

78.8%+21.2pp

80.3%+19.7pp

Annual return

9.94%

166.77%-156.8pp

134.46%-124.5pp

373.66%-363.7pp

Employer contribution / active EE

$2,261

$5,478-58.7%

$4,821-53.1%

$4,754-52.4%

Participant deferral / active EE

$9,884

$6,521+51.6%

$5,682+74.0%

$6,712+47.3%

Admin fee / account holder

$1,681

$16,155-89.6%

$13,212-87.3%

$11,409-85.3%

SHERI L. WATKINS, D.M.D., P.A. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHERI L. WATKINS, D.M.D., P.A. 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