Retirement plan

MEDICAL ASSOCIATES OF RHODE ISLAND, INC. THRIFT 401(K) PLAN AND TRUST

Name: MEDICAL ASSOCIATES OF RHODE ISLAND, INC. - MEDICAL ASSOCIATES OF RHODE ISLAND, INC. THRIFT 401(K) PLAN AND TRUST (2021) Form 5500
Creator: MEDICAL ASSOCIATES OF RHODE ISLAND, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MEDICAL ASSOCIATES OF RHODE ISLAND, INC. THRIFT 401(K) PLAN AND TRUST, MEDICAL ASSOCIATES OF RHODE ISLAND, INC.

MEDICAL ASSOCIATES OF RHODE ISLAND, INC.EIN 05-0340866Plan #004PY 2021

1180 HOPE STREET - BRISTOL, RI 02809401-253-8900medassociatesofri.comLinkedIn51-200 employeesmedical practice

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$21.7M

+16.9% from 2020

Total participants

156

+9.1% from 2020

Average account balance

$144,693

+5.2% from 2020

Annual return

14.14%

+6.46 pp from 2020

Benchmarks

See 5,350 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,350 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$23.87M

Not enough data

1 years with asset history on file

Average account balance

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

$167K

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.

143

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.

85.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.11M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+12.01%

Not enough data

1 years with return on file

Admin fee / account holder

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

$359

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 3 by compensation

Provider	Service type	Compensation
NEW ENGLAND PENSION CONSULTANTS4 years Filed as: NEW ENGLAND PENSION PLAN SYSTEMS, L Service code 13 · EIN 05-0515232	Contract Administrator	$47,947
SERGIO DECURTIS4 years Service code 28 · EIN 05-0515232	Investment Management	$32,271
MATRIX TRUST COMPANY2 years Service code 19 717 17TH STREET SUITE 1300 · DENVER, CO 80202	Securities Custodian	$21,514

Plan features & details

Pension benefit codes2E2G2F2J3D

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.
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

$102K

$947 / participant

Investment mgmt$32K31.5%
Contract admin$10K9.8%
Other / not subdivided$60K58.6%

% of EOY assets

0.471%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: JARDIM & MAROTTA, LLC
Auditor EIN: 475415574
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$144,693

$61,172+136.5%

$185,851-22.1%

$79,389+82.3%

Participation rate

94.4%

66.6%+27.8pp

81.7%+12.7pp

70.7%+23.7pp

Annual return

14.14%

19.45%-5.3pp

122.11%-108.0pp

116.89%-102.8pp

Employer contribution / active EE

$3,370

$2,321+45.2%

$5,168-34.8%

$2,428+38.8%

Participant deferral / active EE

$6,427

$2,788+130.5%

$5,569+15.4%

$4,046+58.8%

Admin fee / account holder

$682

$710-3.9%

$16,245-95.8%

$626+8.9%

Provider

Service type

Compensation

NEW ENGLAND PENSION CONSULTANTS4 years

Filed as: NEW ENGLAND PENSION PLAN SYSTEMS, L

Service code 13 · EIN 05-0515232

Contract Administrator

$47,947

SERGIO DECURTIS4 years

Service code 28 · EIN 05-0515232

Investment Management

$32,271

MATRIX TRUST COMPANY2 years

Service code 19

717 17TH STREET SUITE 1300 · DENVER, CO 80202

Securities Custodian

$21,514

MEDICAL ASSOCIATES OF RHODE ISLAND, INC. THRIFT 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MEDICAL ASSOCIATES OF RHODE ISLAND, INC. THRIFT 401(K) PLAN AND TRUST

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