Retirement plan

RACI 401(K) PLAN

Name: RETINA ASSOCIATES OF CLEVELAND, INC - RACI 401(K) PLAN (2020) Form 5500
Creator: RETINA ASSOCIATES OF CLEVELAND, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RACI 401(K) PLAN, RETINA ASSOCIATES OF CLEVELAND, INC

RETINA ASSOCIATES OF CLEVELAND, INCEIN 34-1411937Plan #003PY 2020

24075 COMMERCE PARK - BEACHWOOD, OH 44122216-831-5700retina-assoc.comLinkedIn1-10 employeesmedical practice

Other plans on this EIN

1 filing

#002Retirement-$7.3M assets

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$14.7M

+14.1% from 2019

Total participants

235

+16.9% from 2019

Average account balance

$65,735

-8.4% from 2019

Annual return

21.61%

+0.76 pp from 2019

Benchmarks

See 5,416 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,416 peers

Snapshot2020

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$18.32M

Not enough data

1 years with asset history on file

Average account balance

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

$83K

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.

220

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.

69.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.95M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+11.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$586

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
PENSION ASSURANCE LLP4 years Filed as: PENSION ADVISORS Service code 27 28601 CHAGRIN BLVD #550 · CLEVELAND, OH 44122	Advisory (Plan)	$43,736
GREAT-WEST LIFE & ANNUITY INSURANCE4 years Filed as: GREAT WEST LIFE AND ANNUITY Service code 64 · EIN 84-0467907 8515 EAST ORCHARD RD · GREENWOOD VILLAGE, OH 80111	Recordkeeping Fees	$18,137
BREWSTER & BREWSTER, INC.1 year Service code 13 · EIN 34-1842059 370 BLACKBROOK RD. · PAINESVILLE, OH 44077	Contract Administrator	$2,250

Plan features & details

Pension benefit codes2A2E2G2J3D2F2T

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.
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.)
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

$108K

$557 / participant

Investment mgmt$44K40.5%
Contract admin$64K59.5%

% of EOY assets

0.737%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BARNES WENDLING CPAS, INC.
Auditor EIN: 341463411
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$65,735

$58,879+11.6%

$178,490-63.2%

$73,488-10.6%

Participation rate

93.8%

66.2%+27.6pp

81.9%+11.9pp

70.7%+23.1pp

Annual return

21.61%

24.86%-3.3pp

151.07%-129.5pp

28.51%-6.9pp

Employer contribution / active EE

$4,043

$2,236+80.8%

$5,011-19.3%

$2,270+78.1%

Participant deferral / active EE

$2,712

$2,567+5.6%

$5,202-47.9%

$3,740-27.5%

Admin fee / account holder

$485

$400+21.1%

$13,984-96.5%

$513-5.5%

Provider

Service type

Compensation

PENSION ASSURANCE LLP4 years

Filed as: PENSION ADVISORS

Service code 27

28601 CHAGRIN BLVD #550 · CLEVELAND, OH 44122

Advisory (Plan)

$43,736

GREAT-WEST LIFE & ANNUITY INSURANCE4 years

Filed as: GREAT WEST LIFE AND ANNUITY

Service code 64 · EIN 84-0467907

8515 EAST ORCHARD RD · GREENWOOD VILLAGE, OH 80111

Recordkeeping Fees

$18,137

BREWSTER & BREWSTER, INC.1 year

Service code 13 · EIN 34-1842059

370 BLACKBROOK RD. · PAINESVILLE, OH 44077

Contract Administrator

$2,250

RACI 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RACI 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