Retirement plan

WELLS FAMILY PRACTICE, L.L.C. 401(K) PROFIT SHARING PLAN

Name: WELLS FAMILY PRACTICE, L.L.C. - WELLS FAMILY PRACTICE, L.L.C. 401(K) PROFIT SHARING PLAN (2019) Form 5500
Creator: WELLS FAMILY PRACTICE, L.L.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WELLS FAMILY PRACTICE, L.L.C. 401(K) PROFIT SHARING PLAN, WELLS FAMILY PRACTICE, L.L.C.

WELLS FAMILY PRACTICE, L.L.C.EIN 10-0009224Plan #001PY 2019

P.O. BOX 1089 - WELLS, ME 04090207-646-0676wellsfamilypractice.comLinkedIn1-10 employeesmedical practice

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$2.1M

+27.4% from 2018

Total participants

+28.6% from 2018

Average account balance

$231,995

-0.9% from 2018

Annual return

23.06%

+25.72 pp from 2018

Benchmarks

See 104,307 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort104,307 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.71M

Not enough data

1 years with asset history on file

Average account balance

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

$285K

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.

144.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$120K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+15.05%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2279

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 codes2F2G2J2R3D

Plan features

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$17K

$2101 / participant

Other / not subdivided$17K100.0%

% of EOY assets

0.805%

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

$231,995

$202,342+14.7%

$172,752+34.3%

$152,897+51.7%

Participation rate

100.0%

87.1%+12.9pp

82.6%+17.4pp

82.5%+17.5pp

Annual return

23.06%

1029.83%-1006.8pp

802.97%-779.9pp

345.43%-322.4pp

Employer contribution / active EE

$1,971

$5,858-66.4%

$5,144-61.7%

$4,764-58.6%

Participant deferral / active EE

$7,011

$5,948+17.9%

$5,198+34.9%

$5,851+19.8%

Admin fee / account holder

$1,867

$17,111-89.1%

$13,955-86.6%

$11,599-83.9%

WELLS FAMILY PRACTICE, L.L.C. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WELLS FAMILY PRACTICE, L.L.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