Retirement plan

SHOALS PRIMARY CARE RETIREMENT PLAN

Name: SHOALS PRIMARY CARE, LLC - SHOALS PRIMARY CARE RETIREMENT PLAN (2023) Form 5500
Creator: SHOALS PRIMARY CARE, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHOALS PRIMARY CARE RETIREMENT PLAN, SHOALS PRIMARY CARE, LLC

SHOALS PRIMARY CARE, LLCEIN 27-0952681Plan #001PY 2023

342 COX BOULEVARD - SHEFFIELD, AL 35660256-383-4473shoalsprimarycarellc.comLinkedIn51-200 employeesmedical practice

Prospect flagsLow returnsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$1.4M

+22.7% from 2022

Total participants

128

-14.1% from 2022

Average account balance

$16,911

+59.0% from 2022

Annual return

10.68%

+32.34 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

$1.80M

Not enough data

1 years with asset history on file

Average account balance

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

$35K

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.

53.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$169K

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

+10.20%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2325

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

0 years with F_SCH_H allocation on file

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

Service providers

Top 1 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY2 years Filed as: JOHN HANCOCK LIFE INSURANCE CO USA Service code 15 · EIN 01-0233346	Recordkeeping	$962

Plan features & details

Pension benefit codes2E2J2K2F2G3D2T

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.
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.

Opportunity flags

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

Expense breakdown

Schedule H Part II

Admin total

$3K

$27 / participant

Other / not subdivided$3K100.0%

% of EOY assets

0.197%

all-in expense ratio

Categories reported

0 / 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: THE HIGHLANDS ACCOUNTING GROUP, INC
Auditor EIN: 823217974
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$16,911

$61,356-72.4%

$149,696-88.7%

$71,511-76.4%

Participation rate

53.0%

62.5%-9.5pp

78.8%-25.8pp

67.9%-14.9pp

Annual return

10.68%

35.86%-25.2pp

134.46%-123.8pp

28.86%-18.2pp

Employer contribution / active EE

$2,382-100.0%

$4,821-100.0%

$2,589-100.0%

Participant deferral / active EE

$1,589

$2,920-45.6%

$5,682-72.0%

$4,291-63.0%

Admin fee / account holder

$33

$1,263-97.4%

$13,212-99.7%

$1,588-97.9%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY2 years

Filed as: JOHN HANCOCK LIFE INSURANCE CO USA

Service code 15 · EIN 01-0233346

Recordkeeping

$962

SHOALS PRIMARY CARE RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHOALS PRIMARY CARE RETIREMENT 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