Retirement plan

HAWTHORN MEDICAL ASSOCIATES, LLC PROFIT SHARING PLAN

Name: HAWTHORN MEDICAL ASSOCIATES, LLC - HAWTHORN MEDICAL ASSOCIATES, LLC PROFIT SHARING PLAN (2022) Form 5500
Creator: HAWTHORN MEDICAL ASSOCIATES, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HAWTHORN MEDICAL ASSOCIATES, LLC PROFIT SHARING PLAN, HAWTHORN MEDICAL ASSOCIATES, LLC

HAWTHORN MEDICAL ASSOCIATES, LLCEIN 04-3436165Plan #002PY 2022

535 FAUNCE CORNER ROAD - NORTH DARTMOUTH, MA 02747508-996-3991hawthornmed.comLinkedIn501-1000 employeeshospital & health care

Prospect flagsLow returnsHigh feesHigh assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$106M

-19.3% from 2021

Total participants

203

+9.1% from 2021

Average account balance

$538,102

-24.2% from 2021

Annual return

-19.07%

-33.86 pp from 2021

Benchmarks

See 5,354 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,354 peers

Snapshot2022

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$134.90M

Not enough data

1 years with asset history on file

Average account balance

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

$674K

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.

200

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.

95.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$7.04M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$49K

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

+15.55%

Not enough data

1 years with return on file

Admin fee / account holder

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

$444

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
NATIONWIDE8+ years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$426,589
THE ANGELL PENSION GROUP, INC.8+ years Service code 13 88 BOYD AVENUE · EAST PROVIDENCE, RI 02914	Contract Administrator	$51,870
MORGAN STANLEY SMITH BARNEY7 years Filed as: MORGAN STANLEY SMITH BARNEY LLC Service code 27 1 NEW YORK PLAZA, 12TH FL · NEW YORK, NY 10004	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2F2H2J2K2A2R2G3D

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.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.

Opportunity flags

4 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$292K

$1935 / participant

Other / not subdivided$292K100.0%

% of EOY assets

0.276%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: KAHN, LITWIN, RENZA & CO., LTD.
Auditor EIN: 050409384
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$538,102

$65,061+727.1%

$143,757+274.3%

$66,914+704.2%

Participation rate

96.0%

65.2%+30.8pp

80.3%+15.7pp

69.8%+26.2pp

Annual return

-19.07%

-11.14%-7.9pp

-0.04%-19.0pp

1.58%-20.7pp

Employer contribution / active EE

$25,167

$2,361+966.1%

$4,951+408.3%

$2,544+889.2%

Participant deferral / active EE

$17,864

$2,919+512.0%

$5,637+216.9%

$4,237+321.6%

Admin fee / account holder

$1,483

$502+195.5%

$14,673-89.9%

$593+150.0%

Provider

Service type

Compensation

NATIONWIDE8+ years

Service code 15

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$426,589

THE ANGELL PENSION GROUP, INC.8+ years

Service code 13

88 BOYD AVENUE · EAST PROVIDENCE, RI 02914

Contract Administrator

$51,870

MORGAN STANLEY SMITH BARNEY7 years

Filed as: MORGAN STANLEY SMITH BARNEY LLC

Service code 27

1 NEW YORK PLAZA, 12TH FL · NEW YORK, NY 10004

Advisory (Plan)

HAWTHORN MEDICAL ASSOCIATES, LLC PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HAWTHORN MEDICAL ASSOCIATES, LLC 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