Retirement plan

OPTIMA DERMATOLOGY PARTNERS RETIREMENT PLAN

Name: OPTIMA DERMATOLOGY PARTNERS, LLC - OPTIMA DERMATOLOGY PARTNERS RETIREMENT PLAN (2022) Form 5500
Creator: OPTIMA DERMATOLOGY PARTNERS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OPTIMA DERMATOLOGY PARTNERS RETIREMENT PLAN, OPTIMA DERMATOLOGY PARTNERS, LLC

OPTIMA DERMATOLOGY PARTNERS, LLCEIN 82-4641383Plan #001PY 2022

290 HERITAGE AVE., SUITE 102 - PORTSMOUTH, NH 03081561-714-7807optimadermatology.comLinkedIn51-200 employeeshospital & health care

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$10M

-11.3% from 2021

Total participants

347

+24.8% from 2021

Average account balance

$45,225

-36.1% from 2021

Annual return

-14.74%

-30.18 pp from 2021

Benchmarks

See 3,876 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort3,876 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$16.15M

Not enough data

1 years with asset history on file

Average account balance

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

$50K

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.

321

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.

56.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.43M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+13.57%

Not enough data

1 years with return on file

Admin fee / account holder

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

$165

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
ASCENSUS LLC2 years Service code 15 · EIN 11-3665754	Recordkeeping	$17,366
LPL FINANCIAL2 years Filed as: LPL FINANCIAL RPCP Service code 26 · EIN 04-3046611	Advisory (Participants)	$12,000

Plan features & details

Pension benefit codes2E2F2G2J2K2R3D3H

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$26K

$85 / participant

Other / not subdivided$26K100.0%

% of EOY assets

0.258%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAKER NEWMAN & NOYES
Auditor EIN: 010494526
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$45,225

$46,325-2.4%

$143,788-68.5%

$64,814-30.2%

Participation rate

59.2%

64.2%-5.1pp

80.3%-21.2pp

71.5%-12.3pp

Annual return

-14.74%

-10.05%-4.7pp

-0.03%-14.7pp

32.84%-47.6pp

Employer contribution / active EE

$1,285

$1,911-32.8%

$4,952-74.1%

$2,507-48.7%

Participant deferral / active EE

$3,013

$2,647+13.9%

$5,638-46.6%

$4,310-30.1%

Admin fee / account holder

$117

$154-24.2%

$14,675-99.2%

$188-37.9%

Provider

Service type

Compensation

ASCENSUS LLC2 years

Service code 15 · EIN 11-3665754

Recordkeeping

$17,366

LPL FINANCIAL2 years

Filed as: LPL FINANCIAL RPCP

Service code 26 · EIN 04-3046611

Advisory (Participants)

$12,000

OPTIMA DERMATOLOGY PARTNERS RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OPTIMA DERMATOLOGY PARTNERS RETIREMENT 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