Retirement plan

AVORS MEDICAL GROUP 401(K) PROFIT SHARING PLAN

Name: AVORS MEDICAL GROUP - AVORS MEDICAL GROUP 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: AVORS MEDICAL GROUP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AVORS MEDICAL GROUP 401(K) PROFIT SHARING PLAN, AVORS MEDICAL GROUP

AVORS MEDICAL GROUPEIN 26-1250331Plan #001PY 2024

42135 10TH STREET W, SUITE 101 - LANCASTER, CA 93534661-726-5005avorsmedgroup.comLinkedIn1-10 employeesmedical practice

Other plans on this EIN

1 filing

#003Retirement-$2.5M assets

Prospect flagsHigh retiree %Low returnsHigh feesLow participationLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$1.4M

+11.0% from 2023

Total participants

-29.9% from 2023

Average account balance

$20,502

+72.1% from 2023

Annual return

1.95%

-13.68 pp from 2023

Benchmarks

See 574 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants25-99

Cohort574 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.41M

Not enough data

1 years with asset history on file

Average account balance

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

$21K

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.

67.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$241K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+1.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1456

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
SOREN MCADAM1 year Filed as: SOREN MCADAM LLP Service code 10 · EIN 77-0549163	Accounting	$30,083
STANCORP FINANCIAL GROUP2 years Service code 12 · EIN 93-1253576	Claims processing; Recordkeeping and ...	$29,969
DYNAMIC WEALTH ADVISORS2 years Service code 27 · EIN 26-3945512	Advisory (Plan)	$23,674
THE RYDING COMPANY2 years Service code 17 · EIN 95-3497679	Pension Consulting	$11,281
RELIANCE TRUST COMPANY2 years Filed as: RELIANCE CUSTODY FEES Service code 19 · EIN 25-1838406	Securities Custodian	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D3B

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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

6 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$100K

$1620 / participant

Recordkeeping$30K29.8%
Investment mgmt$24K23.6%
Contract admin$11K10.7%
Other / not subdivided$36K35.9%

% of EOY assets

7.102%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SOREN MCADAM LLP
Auditor EIN: 770549163
Audit fees: $30,083
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$20,502

$96,236-78.7%

$133,698-84.7%

$80,959-74.7%

Participation rate

67.7%

71.2%-3.5pp

76.4%-8.7pp

67.7%+0.1pp

Annual return

1.95%

28.74%-26.8pp

580.90%-578.9pp

35.67%-33.7pp

Employer contribution / active EE

$3,234

$3,350-3.5%

$4,218-23.3%

$2,757+17.3%

Participant deferral / active EE

$654

$5,709-88.5%

$7,016-90.7%

$4,300-84.8%

Admin fee / account holder

$1,456

$8,250-82.4%

$6,703-78.3%

$6,925-79.0%

Provider

Service type

Compensation

SOREN MCADAM1 year

Filed as: SOREN MCADAM LLP

Service code 10 · EIN 77-0549163

Accounting

$30,083

STANCORP FINANCIAL GROUP2 years

Service code 12 · EIN 93-1253576

Claims processing; Recordkeeping and ...

$29,969

DYNAMIC WEALTH ADVISORS2 years

Service code 27 · EIN 26-3945512

Advisory (Plan)

$23,674

THE RYDING COMPANY2 years

Service code 17 · EIN 95-3497679

Pension Consulting

$11,281

RELIANCE TRUST COMPANY2 years

Filed as: RELIANCE CUSTODY FEES

Service code 19 · EIN 25-1838406

Securities Custodian

AVORS MEDICAL GROUP 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AVORS MEDICAL GROUP 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