Retirement plan

SUMMIT RADIOLOGY, P.C. PROFIT SHARING PLAN

Name: SUMMIT RADIOLOGY, P.C. - SUMMIT RADIOLOGY, P.C. PROFIT SHARING PLAN (2019) Form 5500
Creator: SUMMIT RADIOLOGY, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SUMMIT RADIOLOGY, P.C. PROFIT SHARING PLAN, SUMMIT RADIOLOGY, P.C.

SUMMIT RADIOLOGY, P.C.EIN 35-1140337Plan #001PY 2019

5001 US HIGHWAY 30 W, SUITE #201, PO BOX 80070 - FORT WAYNE, IN 468980070260-432-1568summitradiology.comLinkedIn51-200 employeeshospital & health care

Prospect flagsHigh feesHigh assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$58.7M

+14.0% from 2018

Total participants

123

-8.9% from 2018

Average account balance

$484,975

+25.4% from 2018

Annual return

18.14%

+22.96 pp from 2018

Benchmarks

See 18,455 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort18,455 peers

Snapshot2019

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Analytics

Total assets (EOY)

Plan-year ending balance

$72.94M

Not enough data

1 years with asset history on file

Average account balance

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

$570K

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.

128

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.

89.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.30M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$29K

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

+10.18%

Not enough data

1 years with return on file

Admin fee / account holder

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

$756

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 6 by compensation

Provider	Service type	Compensation
CHARLES SCHWAB & CO., INC.2 years Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$66,048
OXFORD FINANCIAL GROUP, LTD3 years Filed as: OXFORD FINANCIAL ADVISORS CORPORATI Service code 28 · EIN 35-1588335	Investment Management	$34,408
GALECKI FINANCIAL3 years Filed as: GALECKI FINANCIAL MANAGEMENT I Service code 26 · EIN 20-3255637	Advisory (Participants)	$14,898
VALEO FINANCIAL ADVISORS LLC2 years Service code 26 · EIN 03-0519130	Advisory (Participants)	$10,406
CHARLES SCHWAB & CO., INC.5+ years Service code 33 · EIN 94-1737782	Shareholder servicing fees; Float rev...	$6,249
CHARLES SCHWAB & CO., INC.5+ years Filed as: CHARLES SCHWAB & CO. INC. AND AFFIL Service code 59	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2R2T3D3H

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 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).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$140K

$1574 / participant

Investment mgmt$68K48.4%
Other / not subdivided$72K51.6%

% of EOY assets

0.239%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: KATZ, SAPPER & MILLER, LLP
Auditor EIN: 351090346
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$484,975

$85,202+469.2%

$172,739+180.8%

$72,985+564.5%

Participation rate

97.8%

70.1%+27.7pp

82.6%+15.1pp

69.5%+28.3pp

Annual return

18.14%

27.32%-9.2pp

802.84%-784.7pp

81.00%-62.9pp

Employer contribution / active EE

$19,547

$3,324+488.0%

$5,143+280.1%

$2,440+701.2%

Participant deferral / active EE

$11,025

$3,260+238.2%

$5,198+112.1%

$3,607+205.6%

Admin fee / account holder

$1,158

$5,884-80.3%

$13,954-91.7%

$5,124-77.4%

Provider

Service type

Compensation

CHARLES SCHWAB & CO., INC.2 years

Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$66,048

OXFORD FINANCIAL GROUP, LTD3 years

Filed as: OXFORD FINANCIAL ADVISORS CORPORATI

Service code 28 · EIN 35-1588335

Investment Management

$34,408

GALECKI FINANCIAL3 years

Filed as: GALECKI FINANCIAL MANAGEMENT I

Service code 26 · EIN 20-3255637

Advisory (Participants)

$14,898

VALEO FINANCIAL ADVISORS LLC2 years

Service code 26 · EIN 03-0519130

Advisory (Participants)

$10,406

CHARLES SCHWAB & CO., INC.5+ years

Service code 33 · EIN 94-1737782

Shareholder servicing fees; Float rev...

$6,249

CHARLES SCHWAB & CO., INC.5+ years

Filed as: CHARLES SCHWAB & CO. INC. AND AFFIL

Service code 59

Shareholder Servicing

SUMMIT RADIOLOGY, P.C. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SUMMIT RADIOLOGY, P.C. PROFIT SHARING 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