Retirement plan

THE ORTHOPAEDIC NETWORK, INC. PROFIT SHARING & 401(K) PLAN

Name: THE ORTHOPAEDIC NETWORK, INC. - THE ORTHOPAEDIC NETWORK, INC. PROFIT SHARING & 401(K) PLAN (2022) Form 5500
Creator: THE ORTHOPAEDIC NETWORK, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE ORTHOPAEDIC NETWORK, INC. PROFIT SHARING & 401(K) PLAN, THE ORTHOPAEDIC NETWORK, INC.

THE ORTHOPAEDIC NETWORK, INC.EIN 34-1927192Plan #001PY 2022

7630 KINGS POINTE RD. - TOLDEO, OH 43617419-517-7505

Prospect flagsHigh retiree %High fees

How to read this page

Total assets (EOY)

$7.5M

-36.5% from 2021

Total participants

-30.4% from 2021

Average account balance

$242,117

-9.8% from 2021

Annual return

-8.16%

-20.61 pp from 2021

Benchmarks

See 105,966 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort105,966 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.00M

Not enough data

1 years with asset history on file

Average account balance

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

$136K

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.

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.

157.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$163K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+16.73%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1302

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

0 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
HUNTINGTON NATIONAL BANK2 years Filed as: THE HUNTINGTON NATIONAL BANK Service code 27 · EIN 31-0966785	Advisory (Plan)	$5,828
NEWPORT GROUP, INC.2 years Service code 15 · EIN 27-2037969	Recordkeeping	$975
TRANSAMERICA RETIREMENT SOLUTIONS6 years Filed as: TRANSAMERICA LIFE INSURANCE COMPANY Service code 15 · EIN 39-0989781	Recordkeeping	$953

Plan features & details

Pension benefit codes2A2E2F2G2J2R3D

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.
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.)
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$3.5M

$315114 / participant

Other / not subdivided$3M100.0%

% of EOY assets

46.182%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$242,117

$167,352+44.7%

$143,788+68.4%

$134,509+80.0%

Participation rate

90.9%

84.8%+6.1pp

80.3%+10.6pp

81.2%+9.7pp

Annual return

-8.16%

0.47%-8.6pp

-0.03%-8.1pp

418.13%-426.3pp

Employer contribution / active EE

$4,787

$5,620-14.8%

$4,952-3.3%

$4,741+1.0%

Participant deferral / active EE

$3,927

$6,447-39.1%

$5,638-30.3%

$6,400-38.6%

Admin fee / account holder

$111,815

$18,091+518.1%

$14,675+661.9%

$11,427+878.5%

Provider

Service type

Compensation

HUNTINGTON NATIONAL BANK2 years

Filed as: THE HUNTINGTON NATIONAL BANK

Service code 27 · EIN 31-0966785

Advisory (Plan)

$5,828

NEWPORT GROUP, INC.2 years

Service code 15 · EIN 27-2037969

Recordkeeping

$975

TRANSAMERICA RETIREMENT SOLUTIONS6 years

Filed as: TRANSAMERICA LIFE INSURANCE COMPANY

Service code 15 · EIN 39-0989781

Recordkeeping

$953

THE ORTHOPAEDIC NETWORK, INC. PROFIT SHARING & 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE ORTHOPAEDIC NETWORK, 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