Retirement plan

SONICARE SOLUTIONS INC. 401(K) PROFIT SHARING PLAN AND TRUST

Name: SONICARE SOLUTIONS, INC. - SONICARE SOLUTIONS INC. 401(K) PROFIT SHARING PLAN AND TRUST (2021) Form 5500
Creator: SONICARE SOLUTIONS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SONICARE SOLUTIONS INC. 401(K) PROFIT SHARING PLAN AND TRUST, SONICARE SOLUTIONS, INC.

SONICARE SOLUTIONS, INC.EIN 65-1056426Plan #002PY 2021

111 COMMERCE RD. - BOYNTON BEACH, FL 33426561-202-9700LinkedIn11-50 employeeswholesale

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$3.4M

+39.8% from 2019

Total participants

-3.2% from 2019

Average account balance

$116,147

+49.4% from 2019

Annual return

15.55%

+15.55 pp from 2019

Benchmarks

See 126,102 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort126,102 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.84M

Not enough data

1 years with asset history on file

Average account balance

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

$156K

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.

114.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$204K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+13.71%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4765

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 codes2E2F2G2J2T3D

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.
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

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

$292K

$13897 / participant

Other / not subdivided$292K100.0%

% of EOY assets

8.664%

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

$116,147

$176,105-34.0%

$159,474-27.2%

$167,536-30.7%

Participation rate

95.2%

85.0%+10.3pp

82.8%+12.4pp

82.1%+13.1pp

Annual return

15.55%

331.91%-316.4pp

263.68%-248.1pp

478.82%-463.3pp

Employer contribution / active EE

$3,132

$5,299-40.9%

$4,831-35.2%

$4,839-35.3%

Participant deferral / active EE

$6,461

$7,751-16.6%

$7,353-12.1%

$6,342+1.9%

Admin fee / account holder

$10,063

$12,559-19.9%

$10,802-6.8%

$12,315-18.3%

SONICARE SOLUTIONS INC. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SONICARE SOLUTIONS INC. 401(K) PROFIT SHARING PLAN AND TRUST

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