Retirement plan

MTBC 401(K) PLAN

Name: MEDICAL TRANSCRIPTION BILLING CORP. - MTBC 401(K) PLAN (2019) Form 5500
Creator: MEDICAL TRANSCRIPTION BILLING CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MTBC 401(K) PLAN, MEDICAL TRANSCRIPTION BILLING CORP.

MEDICAL TRANSCRIPTION BILLING CORP.EIN 22-3832302Plan #001PY 2019

7 CLYDE ROAD - SOMERSET, NJ 08873972-675-7357carecloud.comLinkedIn1001-5000 employeesinformation technology and services

Prospect flagsLow returnsLow participation

How to read this page

Total assets (EOY)

$3.7M

+23.0% from 2018

Total participants

122

-11.6% from 2018

Average account balance

$64,262

+25.2% from 2018

Annual return

20.18%

+20.97 pp from 2018

Benchmarks

See 5,552 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,552 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$24.51M

Not enough data

1 years with asset history on file

Average account balance

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

$67K

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.

368

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.

68.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.36M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+18.47%

Not enough data

1 years with return on file

Admin fee / account holder

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

$248

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
KESTRA INVESTMENT SERVICES LLC2 years Filed as: KESTRA INVESTMENT SERVICES Service code 27 · EIN 74-2794194	Advisory (Plan)	$13,607
THE VANGUARD GROUP, INC.3 years Service code 15 · EIN 23-1945930	Recordkeeping	$2,319
TD AMERITRADE, INC.3 years Service code 33 · EIN 82-0543156	Securities brokerage; Direct payment ...	$35

Plan features & details

Pension benefit codes2E3D2G2J2K2R2F2T3H

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.
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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$16K

$143 / participant

Investment mgmt$14K85.3%
Contract admin$2K14.5%
Other / not subdivided$350.2%

% of EOY assets

0.436%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: VIRMANI, CPA, P.C.
Auditor EIN: 473704376
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$64,262

$89,652-28.3%

$141,191-54.5%

$65,185-1.4%

Participation rate

42.0%

74.7%-32.7pp

82.5%-40.5pp

70.2%-28.2pp

Annual return

20.18%

32.79%-12.6pp

71.41%-51.2pp

29.38%-9.2pp

Employer contribution / active EE

$1,394

$3,065-54.5%

$4,736-70.6%

$2,177-36.0%

Participant deferral / active EE

$2,696

$5,691-52.6%

$6,710-59.8%

$3,514-23.3%

Admin fee / account holder

$280

$569-50.7%

$10,264-97.3%

$847-66.9%

Provider

Service type

Compensation

KESTRA INVESTMENT SERVICES LLC2 years

Filed as: KESTRA INVESTMENT SERVICES

Service code 27 · EIN 74-2794194

Advisory (Plan)

$13,607

THE VANGUARD GROUP, INC.3 years

Service code 15 · EIN 23-1945930

Recordkeeping

$2,319

TD AMERITRADE, INC.3 years

Service code 33 · EIN 82-0543156

Securities brokerage; Direct payment ...

$35

MTBC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MTBC 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