Retirement plan

MY COMMUNITY DENTAL CENTERS, INC. 403(B) PLAN

Name: MY COMMUNITY DENTAL CENTERS, INC. - MY COMMUNITY DENTAL CENTERS, INC. 403(B) PLAN (2023) Form 5500
Creator: MY COMMUNITY DENTAL CENTERS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MY COMMUNITY DENTAL CENTERS, INC. 403(B) PLAN, MY COMMUNITY DENTAL CENTERS, INC.

MY COMMUNITY DENTAL CENTERS, INC.EIN 30-0393232Plan #001PY 2023

3890 CHARLEVOIX AVE, SUITE 300 - PETOSKEY, MI 497708423231-437-4760mydental.orgLinkedIn201-500 employeeshospital & health care

Prospect flagsLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$18.9M

+18.4% from 2022

Total participants

497

+3.1% from 2022

Average account balance

$58,799

+17.7% from 2022

Annual return

15.00%

+28.89 pp from 2022

Benchmarks

See 4,038 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,038 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$21.04M

Not enough data

1 years with asset history on file

Average account balance

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

$68K

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.

308

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.

61.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.60M

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

+11.64%

Not enough data

1 years with return on file

Admin fee / account holder

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

$360

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
PRINCIPAL LIFE INSURANCE COMPANY7 years Service code 13 · EIN 42-0127290	Contract Administrator	$50,574
CAPFINANCIAL PARTNERS LLC3 years Filed as: CAPFINANCIAL PARTNERS Service code 27 · EIN 26-0058143	Advisory (Plan)	$44,103

Plan features & details

Pension benefit codes2F2G2L2M2T3D

Plan features

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll 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

$95K

$222 / participant

Investment mgmt$44K46.6%
Contract admin$51K53.4%

% of EOY assets

0.502%

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: CROWE LLP
Auditor EIN: 350921680
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$58,799

$47,163+24.7%

$149,696-60.7%

$74,460-21.0%

Participation rate

58.8%

63.4%-4.6pp

78.8%-20.0pp

70.7%-12.0pp

Annual return

15.00%

22.75%-7.8pp

134.46%-119.5pp

34.38%-19.4pp

Employer contribution / active EE

$1,789

$1,907-6.2%

$4,821-62.9%

$2,638-32.2%

Participant deferral / active EE

$3,786

$2,730+38.7%

$5,682-33.4%

$4,530-16.4%

Admin fee / account holder

$295

$343-14.0%

$13,212-97.8%

$348-15.2%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY7 years

Service code 13 · EIN 42-0127290

Contract Administrator

$50,574

CAPFINANCIAL PARTNERS LLC3 years

Filed as: CAPFINANCIAL PARTNERS

Service code 27 · EIN 26-0058143

Advisory (Plan)

$44,103

MY COMMUNITY DENTAL CENTERS, INC. 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MY COMMUNITY DENTAL CENTERS, INC. 403(B) 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