Retirement plan

PROFESSIONAL HEALTH CARE NETWORK 401(K) PLAN

Name: PROFESSIONAL HEALTH CARE NETWORK - PROFESSIONAL HEALTH CARE NETWORK 401(K) PLAN (2023) 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 2023

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

Prospect flagsLow assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$2.1M

+93.9% from 2022

Total participants

212

+1.4% from 2022

Average account balance

$10,609

+80.1% from 2022

Annual return

29.92%

+25.04 pp from 2022

Benchmarks

See 5,708 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,708 peers

Snapshot2023

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 PA1 year Service code 10 1414 RALEIGH RD · CHAPEL HILL, NC 27517	Accounting	$16,650
PCS RETIREMENT, LLC2 years Filed as: PCS RETIREMENT LLC Service code 13 · EIN 23-3038464	Contract Administrator	$12,013

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

2 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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

$33K

$167 / participant

Investment mgmt$4K13.4%
Contract admin$12K36.3%
Other / not subdivided$17K50.3%

% of EOY assets

1.584%

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: $16,650
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$10,609

$61,356-82.7%

$149,696-92.9%

$71,511-85.2%

Participation rate

92.4%

62.5%+29.9pp

78.8%+13.6pp

67.9%+24.5pp

Annual return

29.92%

35.86%-5.9pp

134.46%-104.5pp

28.86%+1.1pp

Employer contribution / active EE

$1,605

$2,382-32.6%

$4,821-66.7%

$2,589-38.0%

Participant deferral / active EE

$3,616

$2,920+23.9%

$5,682-36.4%

$4,291-15.7%

Admin fee / account holder

$168

$1,263-86.7%

$13,212-98.7%

$1,588-89.4%

Provider

Service type

Compensation

BACKMAN & SLOOP, CPA'S PA1 year

Service code 10

1414 RALEIGH RD · CHAPEL HILL, NC 27517

Accounting

$16,650

PCS RETIREMENT, LLC2 years

Filed as: PCS RETIREMENT LLC

Service code 13 · EIN 23-3038464

Contract Administrator

$12,013

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