Retirement plan

RAYMOND A. BANNAN, M.D. 401(K) PROFIT SHARING PLAN

Name: RAYMOND A. BANNAN, M.D. - RAYMOND A. BANNAN, M.D. 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: RAYMOND A. BANNAN, M.D.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RAYMOND A. BANNAN, M.D. 401(K) PROFIT SHARING PLAN, RAYMOND A. BANNAN, M.D.

RAYMOND A. BANNAN, M.D.EIN 72-1182225Plan #001PY 2020

300 WHARTON CIRCLE, SUITE 120 - TRIDELPHIA, WV 26059304-242-9245LinkedIn1-10 employeesmedical practice

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$3.6M

+9.7% from 2019

Total participants

+15.4% from 2019

Average account balance

$240,703

-4.9% from 2019

Annual return

6.96%

-3.24 pp from 2019

Benchmarks

See 102,105 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort102,105 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.94M

Not enough data

1 years with asset history on file

Average account balance

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

$226K

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

$146K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+5.37%

Not enough data

1 years with return on file

Admin fee / account holder

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

$55274

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 codes2E2G2J2R3B3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

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

$30K

$2280 / participant

Other / not subdivided$30K100.0%

% of EOY assets

0.821%

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

$240,703

$209,428+14.9%

$178,498+34.8%

$158,950+51.4%

Participation rate

100.0%

86.4%+13.6pp

81.9%+18.1pp

82.0%+18.0pp

Annual return

6.96%

188.78%-181.8pp

151.09%-144.1pp

302.91%-295.9pp

Employer contribution / active EE

$5,038

$5,707-11.7%

$5,011+0.5%

$4,762+5.8%

Participant deferral / active EE

$4,106

$5,955-31.1%

$5,202-21.1%

$5,983-31.4%

Admin fee / account holder

$1,976

$17,077-88.4%

$13,985-85.9%

$11,248-82.4%

RAYMOND A. BANNAN, M.D. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RAYMOND A. BANNAN, M.D. 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