Retirement plan

ACTON MEDICAL ASSOCIATES, P.C. 401(K) PROFIT SHARING PLAN

Name: ACTON MEDICAL ASSOCIATES, P.C. - ACTON MEDICAL ASSOCIATES, P.C. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: ACTON MEDICAL ASSOCIATES, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ACTON MEDICAL ASSOCIATES, P.C. 401(K) PROFIT SHARING PLAN, ACTON MEDICAL ASSOCIATES, P.C.

ACTON MEDICAL ASSOCIATES, P.C.EIN 04-3038356Plan #001PY 2023

321 MAIN STREET - ACTON, MA 01720978-635-8800actonmedical.comLinkedIn201-500 employeeshospital & health care

Prospect flagsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$37.9M

+3.5% from 2022

Total participants

295

+6.9% from 2022

Average account balance

$142,097

-11.6% from 2022

Annual return

15.93%

+33.53 pp from 2022

Benchmarks

See 5,710 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,710 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$44.06M

Not enough data

1 years with asset history on file

Average account balance

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

$160K

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.

275

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.

87.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.70M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+15.40%

Not enough data

1 years with return on file

Admin fee / account holder

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

$411

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 4 by compensation

Provider	Service type	Compensation
GLOBAL RETIREMENT PARTNERS LLC8+ years Filed as: GLOBAL RETIREMENT PARTNERS Service code 27 4340 REDWOOD HWY STE B60 · SAN RAFAEL, CA 94903	Advisory (Plan)	$33,590
THE ANGELL PENSION GROUP, INC.9+ years Service code 13 88 BOYD AVENUE · EAST PROVIDENCE, RI 02914	Contract Administrator	$20,441
CARON & BLETZER, PLLC8+ years Service code 10 51 CHURCH STREET · KINGSTON, NH 03848	Accounting	$8,075
JOHN HANCOCK LIFE INSURANCE COMPANY2 years Filed as: JOHN HANCOCK RETIREMENT PLAN SERVIC Service code 15 · EIN 01-0233346	Recordkeeping	$1,593

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$143K

$751 / participant

Other / not subdivided$143K100.0%

% of EOY assets

0.376%

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: CARON & BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$142,097

$61,338+131.7%

$149,717-5.1%

$71,495+98.8%

Participation rate

85.3%

62.5%+22.7pp

78.8%+6.5pp

67.9%+17.3pp

Annual return

15.93%

35.86%-19.9pp

134.41%-118.5pp

28.85%-12.9pp

Employer contribution / active EE

$2,869

$2,381+20.5%

$4,820-40.5%

$2,589+10.8%

Participant deferral / active EE

$6,226

$2,919+113.3%

$5,682+9.6%

$4,291+45.1%

Admin fee / account holder

$534

$1,263-57.7%

$13,213-96.0%

$1,588-66.4%

Provider

Service type

Compensation

GLOBAL RETIREMENT PARTNERS LLC8+ years

Filed as: GLOBAL RETIREMENT PARTNERS

Service code 27

4340 REDWOOD HWY STE B60 · SAN RAFAEL, CA 94903

Advisory (Plan)

$33,590

THE ANGELL PENSION GROUP, INC.9+ years

Service code 13

88 BOYD AVENUE · EAST PROVIDENCE, RI 02914

Contract Administrator

$20,441

CARON & BLETZER, PLLC8+ years

Service code 10

51 CHURCH STREET · KINGSTON, NH 03848

Accounting

$8,075

JOHN HANCOCK LIFE INSURANCE COMPANY2 years

Filed as: JOHN HANCOCK RETIREMENT PLAN SERVIC

Service code 15 · EIN 01-0233346

Recordkeeping

$1,593

ACTON MEDICAL ASSOCIATES, P.C. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ACTON MEDICAL ASSOCIATES, P.C. 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