Retirement plan

SANOVA DERMATOLOGY 401(K) PROFIT SHARING PLAN

Name: SANOVA DERMATOLOGY MANAGEMENT, INC. - SANOVA DERMATOLOGY 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: SANOVA DERMATOLOGY MANAGEMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SANOVA DERMATOLOGY 401(K) PROFIT SHARING PLAN, SANOVA DERMATOLOGY MANAGEMENT, INC.

SANOVA DERMATOLOGY MANAGEMENT, INC.EIN 82-1439663Plan #001PY 2020

1601 E. PFLUGERVILLE PARKWAY, SUITE 1201 - PFLUGERVILLE, TX 78660512-492-8740sanovadermatology.comLinkedIn51-200 employeesmedical practice

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$6.5M

+42.3% from 2019

Total participants

247

+38.0% from 2019

Average account balance

$41,362

+6.3% from 2019

Annual return

33.21%

-75.77 pp from 2019

Benchmarks

See 5,415 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,415 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.85M

Not enough data

1 years with asset history on file

Average account balance

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

$64K

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.

186

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.

65.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.41M

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

+14.11%

Not enough data

1 years with return on file

Admin fee / account holder

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

$366

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 2 by compensation

Provider	Service type	Compensation
VOYA RETIREMENT INSURANCE & ANNUITY2 years Service code 64 · EIN 71-0294708	Recordkeeping Fees	$30,750
COMMONWEALTH FINANCIAL NETWORK2 years Service code 99 · EIN 04-2675571	Other Fees	$23,187

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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$31K

$151 / participant

Other / not subdivided$31K100.0%

% of EOY assets

0.471%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: PLANCHEC(K) CPAS
Auditor EIN: 842614035
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$41,362

$58,888-29.8%

$178,499-76.8%

$73,493-43.7%

Participation rate

56.2%

66.2%-10.1pp

81.9%-25.8pp

70.7%-14.5pp

Annual return

33.21%

24.86%+8.3pp

151.10%-117.9pp

28.51%+4.7pp

Employer contribution / active EE

$1,555

$2,236-30.5%

$5,011-69.0%

$2,270-31.5%

Participant deferral / active EE

$2,582

$2,568+0.6%

$5,202-50.4%

$3,740-30.9%

Admin fee / account holder

$195

$400-51.4%

$13,986-98.6%

$513-62.1%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY2 years

Service code 64 · EIN 71-0294708

Recordkeeping Fees

$30,750

COMMONWEALTH FINANCIAL NETWORK2 years

Service code 99 · EIN 04-2675571

Other Fees

$23,187

SANOVA DERMATOLOGY 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SANOVA DERMATOLOGY 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