Retirement plan

FAMILY MEDICINE ASSOCIATES 401(K)

Name: FAMILY MEDICINE ASSOCIATES OF LINCOLN COUNTY - FAMILY MEDICINE ASSOCIATES 401(K) (2023) Form 5500
Creator: FAMILY MEDICINE ASSOCIATES OF LINCOLN COUNTY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FAMILY MEDICINE ASSOCIATES 401(K), FAMILY MEDICINE ASSOCIATES OF LINCOLN COUNTY

FAMILY MEDICINE ASSOCIATES OF LINCOLN COUNTYEIN 20-0326467Plan #001PY 2023

1531 N. ASPEN STREET - LINCOLNTON, NC 28092704-732-8736

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$2.4M

+26.4% from 2022

Total participants

0.0% from 2022

Average account balance

$67,571

+30.0% from 2022

Annual return

18.20%

+36.27 pp from 2022

Benchmarks

See 20,797 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort20,797 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.80M

Not enough data

1 years with asset history on file

Average account balance

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

$82K

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.

154.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$191K

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

+11.73%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1242

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 codes2E3D2G2J2F2T3B

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.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

$35K

$1310 / participant

Other / not subdivided$35K100.0%

% of EOY assets

1.496%

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

$67,571

$77,920-13.3%

$149,723-54.9%

$75,177-10.1%

Participation rate

92.6%

65.6%+27.0pp

78.8%+13.8pp

67.2%+25.4pp

Annual return

18.20%

31.72%-13.5pp

134.50%-116.3pp

160.75%-142.5pp

Employer contribution / active EE

$1,958

$3,138-37.6%

$4,821-59.4%

$2,671-26.7%

Participant deferral / active EE

$4,740

$3,411+38.9%

$5,682-16.6%

$4,126+14.9%

Admin fee / account holder

$1,011

$5,951-83.0%

$13,215-92.4%

$5,651-82.1%

FAMILY MEDICINE ASSOCIATES 401(K)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FAMILY MEDICINE ASSOCIATES 401(K)

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