Retirement plan

MEDCARE SOUTH 401(K) PLAN

Name: MEDCARE SOUTH, LLC - MEDCARE SOUTH 401(K) PLAN (2024) Form 5500
Creator: MEDCARE SOUTH, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MEDCARE SOUTH 401(K) PLAN, MEDCARE SOUTH, LLC

MEDCARE SOUTH, LLCEIN 20-1353960Plan #001PY 2024

900 CIRCLE 75 PARKWAY, SUITE 690 - ATLANTA, GA 30339770-933-7063

Prospect flagsLow returnsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$15.4M

+0.4% from 2023

Total participants

315

-23.9% from 2023

Average account balance

$49,573

+3.7% from 2023

Annual return

11.07%

-3.46 pp from 2023

Benchmarks

See 6,007 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort6,007 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.37M

Not enough data

1 years with asset history on file

Average account balance

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

$50K

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.

310

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.

97.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$306K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+11.07%

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 4 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS10+ years Service code 12 · EIN 13-3689044	Float revenue; Direct payment from th...	$56,890
PENSIONMARK FINANCIAL GROUP LLC9 years Filed as: PENSIONMARK FINANCIAL GROUP Service code 27 · EIN 61-1758632	Advisory (Plan)	$38,189
WINDHAM BRANNON5 years Filed as: WINDHAM BRANNON LLC Service code 10 · EIN 58-1763439	Accounting	$16,250
NATIONAL FINANCIAL SERVICES10+ years Service code 33 · EIN 04-3523567	Securities brokerage; Securities brok...	$0

Plan features & details

Pension benefit codes2F2G2J2K2T3D3H

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.
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.
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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 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.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$111K

$671 / participant

Recordkeeping$57K51.1%
Investment mgmt$38K34.3%
Other / not subdivided$16K14.6%

% of EOY assets

0.724%

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: WINDHAM BRANNON LLC
Auditor EIN: 581763439
Audit fees: $16,250
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$49,573

$55,446-10.6%

$155,574-68.1%

$74,429-33.4%

Participation rate

97.0%

61.9%+35.1pp

78.2%+18.8pp

67.2%+29.8pp

Annual return

11.07%

269.20%-258.1pp

64.87%-53.8pp

1368.38%-1357.3pp

Employer contribution / active EE

$2,266-100.0%

$4,676-100.0%

$2,625-100.0%

Participant deferral / active EE

$1,846

$2,836-34.9%

$5,629-67.2%

$4,348-57.5%

Admin fee / account holder

$359

$1,743-79.4%

$15,914-97.7%

$1,944-81.5%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS10+ years

Service code 12 · EIN 13-3689044

Float revenue; Direct payment from th...

$56,890

PENSIONMARK FINANCIAL GROUP LLC9 years

Filed as: PENSIONMARK FINANCIAL GROUP

Service code 27 · EIN 61-1758632

Advisory (Plan)

$38,189

WINDHAM BRANNON5 years

Filed as: WINDHAM BRANNON LLC

Service code 10 · EIN 58-1763439

Accounting

$16,250

NATIONAL FINANCIAL SERVICES10+ years

Service code 33 · EIN 04-3523567

Securities brokerage; Securities brok...

MEDCARE SOUTH 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MEDCARE SOUTH 401(K) 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