Retirement plan

RACI 401K PLAN

Name: RETINA ASSOCIATES OF CLEVELAND, INC - RACI 401K PLAN (2023) Form 5500
Creator: RETINA ASSOCIATES OF CLEVELAND, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RACI 401K PLAN, RETINA ASSOCIATES OF CLEVELAND, INC

RETINA ASSOCIATES OF CLEVELAND, INCEIN 34-1411937Plan #003PY 2023

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

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$17.4M

+13.9% from 2022

Total participants

282

-14.5% from 2022

Average account balance

$76,470

+16.9% from 2022

Annual return

15.28%

+33.39 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

$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

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
NFP RETIREMENT INC3 years Service code 27 120 VANTIS STE 400 · ALISO VIEJO, CA 92656	Advisory (Plan)	$50,663
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$24,492
DEFINITI LLC3 years Service code 13 2201 TIMBERLOCH PL STE 150 · THE WOODLANDS, TX 77380	Contract Administrator	$6,084

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$133K

$531 / participant

Investment mgmt$51K38.2%
Contract admin$82K61.8%

% of EOY assets

0.764%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$76,470

$47,163+62.1%

$149,696-48.9%

$74,460+2.7%

Participation rate

78.0%

63.4%+14.6pp

78.8%-0.8pp

70.7%+7.3pp

Annual return

15.28%

22.75%-7.5pp

134.46%-119.2pp

34.38%-19.1pp

Employer contribution / active EE

$3,557

$1,907+86.6%

$4,821-26.2%

$2,638+34.8%

Participant deferral / active EE

$3,372

$2,730+23.5%

$5,682-40.6%

$4,530-25.6%

Admin fee / account holder

$584

$343+70.4%

$13,212-95.6%

$348+68.0%

Provider

Service type

Compensation

NFP RETIREMENT INC3 years

Service code 27

120 VANTIS STE 400 · ALISO VIEJO, CA 92656

Advisory (Plan)

$50,663

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$24,492

DEFINITI LLC3 years

Service code 13

2201 TIMBERLOCH PL STE 150 · THE WOODLANDS, TX 77380

Contract Administrator

$6,084

RACI 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RACI 401K 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