Retirement plan

DRS. SHANNON AND SHANNON, INC., P.C. PROFIT SHARING PLAN

Name: DRS. SHANNON AND SHANNON, INC. P.C. - DRS. SHANNON AND SHANNON, INC., P.C. PROFIT SHARING PLAN (2023) Form 5500
Creator: DRS. SHANNON AND SHANNON, INC. P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DRS. SHANNON AND SHANNON, INC., P.C. PROFIT SHARING PLAN, DRS. SHANNON AND SHANNON, INC. P.C.

DRS. SHANNON AND SHANNON, INC. P.C.EIN 73-0798580Plan #001PY 2023

3516 E. 31ST STREET, SUITE C - TULSA, OK 74135918-743-2321LinkedIn11-50 employeesmedical practice

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$557K

+18.7% from 2022

Total participants

+18.2% from 2022

Average account balance

$42,864

+0.5% from 2022

Annual return

3.76%

+4.78 pp from 2022

Benchmarks

See 107,959 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort107,959 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$721K

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.

160.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$92K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+12.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$201

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 codes2E2F2G2R2T3D

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

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.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$6K

$725 / participant

Other / not subdivided$6K100.0%

% of EOY assets

1.041%

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

$42,864

$175,259-75.5%

$149,723-71.4%

$139,487-69.3%

Participation rate

100.0%

83.4%+16.6pp

78.8%+21.2pp

80.3%+19.7pp

Annual return

3.76%

166.82%-163.1pp

134.50%-130.7pp

373.84%-370.1pp

Employer contribution / active EE

$1,917

$5,478-65.0%

$4,821-60.2%

$4,755-59.7%

Participant deferral / active EE

$7,597

$6,522+16.5%

$5,682+33.7%

$6,713+13.2%

Admin fee / account holder

$446

$16,158-97.2%

$13,215-96.6%

$11,407-96.1%

DRS. SHANNON AND SHANNON, INC., P.C. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DRS. SHANNON AND SHANNON, INC., P.C. 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