Retirement plan

NORWALK VISION CENTER, LLC EMPLOYEES RETIREMENT PLAN

Name: NORWALK VISION CENTER, LLC - NORWALK VISION CENTER, LLC EMPLOYEES RETIREMENT PLAN (2023) Form 5500
Creator: NORWALK VISION CENTER, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORWALK VISION CENTER, LLC EMPLOYEES RETIREMENT PLAN, NORWALK VISION CENTER, LLC

NORWALK VISION CENTER, LLCEIN 85-3566808Plan #001PY 2023

148 EAST AVENUE - STE 3C - NORWALK, CT 06851203-866-3280norwalkvisioncenter.comLinkedIn1-10 employeesmedical practice

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$82K

-9.9% from 2022

Total participants

-25.0% from 2022

Average account balance

$27,190

+20.2% from 2022

Annual return

11.93%

+20.68 pp from 2022

Benchmarks

See 107,994 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort107,994 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$93K

Not enough data

1 years with asset history on file

Average account balance

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

$46K

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.

50.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$11K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+9.77%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4396

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

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

$32K

$10827 / participant

Other / not subdivided$32K100.0%

% of EOY assets

39.819%

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

$27,190

$175,231-84.5%

$149,696-81.8%

$139,466-80.5%

Participation rate

100.0%

83.4%+16.6pp

78.8%+21.2pp

80.3%+19.7pp

Annual return

11.93%

166.77%-154.8pp

134.46%-122.5pp

373.66%-361.7pp

Employer contribution / active EE

$5,478-100.0%

$4,821-100.0%

$4,754-100.0%

Participant deferral / active EE

$3,900

$6,521-40.2%

$5,682-31.4%

$6,712-41.9%

Admin fee / account holder

$10,827

$16,155-33.0%

$13,212-18.1%

$11,409-5.1%

NORWALK VISION CENTER, LLC EMPLOYEES RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORWALK VISION CENTER, LLC EMPLOYEES 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