Retirement plan

PROFESSIONAL HEALTH CARE NETWORK 401(K) PLAN

Name: PROFESSIONAL HEALTH CARE NETWORK - PROFESSIONAL HEALTH CARE NETWORK 401(K) PLAN (2024) Form 5500
Creator: PROFESSIONAL HEALTH CARE NETWORK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PROFESSIONAL HEALTH CARE NETWORK 401(K) PLAN, PROFESSIONAL HEALTH CARE NETWORK

PROFESSIONAL HEALTH CARE NETWORKEIN 27-0935640Plan #001PY 2024

7600 N. 16TH ST. 140 - PHOENIX, AZ 85020602-395-5125

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$3M

+45.6% from 2023

Total participants

224

+5.7% from 2023

Average account balance

$14,493

+36.6% from 2023

Annual return

14.78%

-15.14 pp from 2023

Benchmarks

See 5,993 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,993 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.04M

Not enough data

1 years with asset history on file

Average account balance

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

$14K

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.

210

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.

92.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.24M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+14.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$293

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 2 by compensation

Provider	Service type	Compensation
BACKMAN & SLOOP, CPA'S PA2 years Service code 10 1414 RALEIGH RD · CHAPEL HILL, NC 27517	Accounting	$41,321
PCS RETIREMENT, LLC3 years Filed as: PCS RETIREMENT LLC Service code 13 · EIN 23-3038464	Contract Administrator	$12,585

Plan features & details

Pension benefit codes2E2J2F2G3D3H

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.
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

1 tripped

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

$61K

$336 / participant

Investment mgmt$8K12.3%
Contract admin$13K20.5%
Other / not subdivided$41K67.2%

% of EOY assets

2.020%

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: BALANCE & STRATEGY ADVISORS, CPAS,
Auditor EIN: 992359763
Audit fees: $13,200
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$14,493

$55,470-73.9%

$155,556-90.7%

$74,478-80.5%

Participation rate

92.3%

61.9%+30.4pp

78.2%+14.1pp

67.2%+25.1pp

Annual return

14.78%

269.80%-255.0pp

64.84%-50.1pp

1370.56%-1355.8pp

Employer contribution / active EE

$2,264

$2,267-0.1%

$4,675-51.6%

$2,626-13.8%

Participant deferral / active EE

$4,506

$2,838+58.8%

$5,631-20.0%

$4,350+3.6%

Admin fee / account holder

$293

$1,744-83.2%

$15,885-98.2%

$1,946-85.0%

Provider

Service type

Compensation

BACKMAN & SLOOP, CPA'S PA2 years

Service code 10

1414 RALEIGH RD · CHAPEL HILL, NC 27517

Accounting

$41,321

PCS RETIREMENT, LLC3 years

Filed as: PCS RETIREMENT LLC

Service code 13 · EIN 23-3038464

Contract Administrator

$12,585

PROFESSIONAL HEALTH CARE NETWORK 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PROFESSIONAL HEALTH CARE NETWORK 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