Retirement plan

MAYFIELD CLINIC, INC. PROFIT SHARING/401(K) PLAN

Name: MAYFIELD CLINIC, INC. - MAYFIELD CLINIC, INC. PROFIT SHARING/401(K) PLAN (2023) Form 5500
Creator: MAYFIELD CLINIC, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MAYFIELD CLINIC, INC. PROFIT SHARING/401(K) PLAN, MAYFIELD CLINIC, INC.

MAYFIELD CLINIC, INC.EIN 31-0588183Plan #001PY 2023

3825 EDWARDS ROAD, SUITE 300 - CINCINNATI, OH 45209513-221-1100

Prospect flagsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$64.6M

+18.9% from 2022

Total participants

329

+4.8% from 2022

Average account balance

$201,155

+14.5% from 2022

Annual return

16.16%

+31.35 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

$72.96M

Not enough data

1 years with asset history on file

Average account balance

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

$202K

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.

361

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.

97.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.61M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+12.42%

Not enough data

1 years with return on file

Admin fee / account holder

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

$422

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 6 by compensation

Provider	Service type	Compensation
CHARLES SCHWAB & CO., INC.6 years Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$70,553
FOSTER & MOTLEY INC7 years Service code 26 · EIN 31-1482336	Advisory (Participants)	$27,786
FOURTH STREET PERFORMANCE PARTNERS5 years Filed as: FOURTH STREET PERFORMANCE PART Service code 28 · EIN 20-4400532	Investment Management	$25,000
MARINER LLC5 years Service code 26 · EIN 20-4553256	Advisory (Participants)	$16,880
CHARLES SCHWAB & CO., INC.7 years Service code 33 · EIN 94-1737782	Securities brokerage; Securities brok...	$939
CHARLES SCHWAB & CO., INC.7 years Filed as: CHARLES SCHWAB & CO INC AND AFFILIA Service code 59	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2R2S2T3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$140K

$533 / participant

Recordkeeping$59K42.1%
Investment mgmt$81K57.9%

% of EOY assets

0.217%

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: SCROGGINSGREAR, INC.
Auditor EIN: 310795487
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$201,155

$47,163+326.5%

$149,696+34.4%

$74,460+170.2%

Participation rate

97.0%

63.4%+33.5pp

78.8%+18.2pp

70.7%+26.2pp

Annual return

16.16%

22.75%-6.6pp

134.46%-118.3pp

34.38%-18.2pp

Employer contribution / active EE

$7,890

$1,907+313.8%

$4,821+63.7%

$2,638+199.1%

Participant deferral / active EE

$8,293

$2,730+203.7%

$5,682+45.9%

$4,530+83.1%

Admin fee / account holder

$437

$343+27.4%

$13,212-96.7%

$348+25.6%

Provider

Service type

Compensation

CHARLES SCHWAB & CO., INC.6 years

Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$70,553

FOSTER & MOTLEY INC7 years

Service code 26 · EIN 31-1482336

Advisory (Participants)

$27,786

FOURTH STREET PERFORMANCE PARTNERS5 years

Filed as: FOURTH STREET PERFORMANCE PART

Service code 28 · EIN 20-4400532

Investment Management

$25,000

MARINER LLC5 years

Service code 26 · EIN 20-4553256

Advisory (Participants)

$16,880

CHARLES SCHWAB & CO., INC.7 years

Service code 33 · EIN 94-1737782

Securities brokerage; Securities brok...

$939

CHARLES SCHWAB & CO., INC.7 years

Filed as: CHARLES SCHWAB & CO INC AND AFFILIA

Service code 59

Shareholder Servicing

MAYFIELD CLINIC, INC. PROFIT SHARING/401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MAYFIELD CLINIC, INC. PROFIT SHARING/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