Retirement plan

MEDICAL HEALTHCARE SPECIALISTS, P.C. RETIREMENT PLAN

Name: MEDICAL HEALTHCARE SPECIALISTS, P.C. - MEDICAL HEALTHCARE SPECIALISTS, P.C. RETIREMENT PLAN (2023) Form 5500
Creator: MEDICAL HEALTHCARE SPECIALISTS, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MEDICAL HEALTHCARE SPECIALISTS, P.C. RETIREMENT PLAN, MEDICAL HEALTHCARE SPECIALISTS, P.C.

MEDICAL HEALTHCARE SPECIALISTS, P.C.EIN 04-3338782Plan #002PY 2023

4 COURTHOUSE LANE STE. 9 - CHELMSFORD, MA 01824978-459-8400mhcspecialists.comLinkedIn11-50 employeeshospital & health care

Other plans on this EIN

1 filing

#003Retirement--

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$4.9M

+22.0% from 2022

Total participants

+14.3% from 2022

Average account balance

$305,098

+6.8% from 2022

Annual return

21.13%

+31.85 pp from 2022

Benchmarks

See 108,045 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort108,045 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.31M

Not enough data

1 years with asset history on file

Average account balance

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

$332K

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.

228.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$103K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+7.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3354

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 codes2D2E2G2J3D

Plan features

2D
Offset plan
Plan benefits are subject to offset for retirement benefits provided in another plan or arrangement of the employer.
2E
Profit-sharing
Profit-sharing plan.
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.
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.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$75K

$8357 / participant

Other / not subdivided$75K100.0%

% of EOY assets

1.541%

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

$305,098

$175,257+74.1%

$149,717+103.8%

$139,456+118.8%

Participation rate

100.0%

83.4%+16.6pp

78.8%+21.2pp

80.3%+19.7pp

Annual return

21.13%

166.70%-145.6pp

134.41%-113.3pp

373.45%-352.3pp

Employer contribution / active EE

$2,785

$5,477-49.1%

$4,820-42.2%

$4,753-41.4%

Participant deferral / active EE

$9,479

$6,521+45.4%

$5,682+66.8%

$6,711+41.2%

Admin fee / account holder

$4,701

$16,156-70.9%

$13,213-64.4%

$11,407-58.8%

MEDICAL HEALTHCARE SPECIALISTS, P.C. RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MEDICAL HEALTHCARE SPECIALISTS, P.C. 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