Retirement plan

PRIVIA MEDICAL GROUP 401(K) PLAN

Name: HEALTH FIRST PRIVIA MEDICAL GROUP, LLC - PRIVIA MEDICAL GROUP 401(K) PLAN (2024) Form 5500
Creator: HEALTH FIRST PRIVIA MEDICAL GROUP, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PRIVIA MEDICAL GROUP 401(K) PLAN, HEALTH FIRST PRIVIA MEDICAL GROUP, LLC

HEALTH FIRST PRIVIA MEDICAL GROUP, LLCEIN 32-0602652Plan #001PY 2024

3550 N. HARBOUR CITY BLVD. - MELBOURNE, FL 32935321-434-3629

Prospect flagsLow assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$8.6M

+103.8% from 2023

Total participants

796

+46.6% from 2023

Average account balance

$12,487

+47.1% from 2023

Annual return

50.39%

-580.50 pp from 2023

Benchmarks

See 4,134 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,134 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.57M

Not enough data

1 years with asset history on file

Average account balance

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

$12K

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.

686

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.

84.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.62M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+50.39%

Not enough data

1 years with return on file

Admin fee / account holder

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

$158

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 3 by compensation

Provider	Service type	Compensation
MILLIMAN, INC.1 year Service code 15 · EIN 91-0675641	Recordkeeping	$108,607
CHARLES SCHWAB & CO., INC.1 year Filed as: CHARLES SCHWAB TRUST BANK Service code 19 · EIN 82-3967259	Securities Custodian	$13
CHARLES SCHWAB & CO., INC.1 year Service code 19 · EIN 94-1737782	Securities Custodian	$0

Plan features & details

Pension benefit codes2E2F2G2J2R3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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 assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$109K

$151 / participant

Recordkeeping$109K99.9%
Other / not subdivided$930.1%

% of EOY assets

1.269%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAKER TILLY US, LLP
Auditor EIN: 301413443
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$12,487

$50,820-75.4%

$155,567-92.0%

$77,671-83.9%

Participation rate

84.7%

63.1%+21.5pp

78.2%+6.5pp

70.6%+14.1pp

Annual return

50.39%

34.85%+15.5pp

64.74%-14.3pp

31.21%+19.2pp

Employer contribution / active EE

$1,462

$1,993-26.7%

$4,674-68.7%

$2,726-46.4%

Participant deferral / active EE

$2,180

$2,823-22.8%

$5,628-61.3%

$4,648-53.1%

Admin fee / account holder

$158

$436-63.7%

$15,916-99.0%

$430-63.2%

Provider

Service type

Compensation

MILLIMAN, INC.1 year

Service code 15 · EIN 91-0675641

Recordkeeping

$108,607

CHARLES SCHWAB & CO., INC.1 year

Filed as: CHARLES SCHWAB TRUST BANK

Service code 19 · EIN 82-3967259

Securities Custodian

$13

CHARLES SCHWAB & CO., INC.1 year

Service code 19 · EIN 94-1737782

Securities Custodian

PRIVIA MEDICAL GROUP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PRIVIA MEDICAL GROUP 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