Retirement plan

FORT WAYNE MEDICAL EDUCATION PROGRAM 403(B) PLAN

Name: FORT WAYNE MEDICAL EDUCATION PROGRAM - FORT WAYNE MEDICAL EDUCATION PROGRAM 403(B) PLAN (2023) Form 5500
Creator: FORT WAYNE MEDICAL EDUCATION PROGRAM
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FORT WAYNE MEDICAL EDUCATION PROGRAM 403(B) PLAN, FORT WAYNE MEDICAL EDUCATION PROGRAM

FORT WAYNE MEDICAL EDUCATION PROGRAMEIN 35-6049685Plan #001PY 2023

750 BROADWAY, SUITE 250 - FORT WAYNE, IN 46802260-422-6573

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$8M

+13.3% from 2022

Total participants

124

-12.1% from 2022

Average account balance

$66,279

+29.2% from 2022

Annual return

18.72%

+35.40 pp from 2022

Benchmarks

See 20,797 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort20,797 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.10M

Not enough data

1 years with asset history on file

Average account balance

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

$70K

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.

115

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.

95.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$480K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+14.65%

Not enough data

1 years with return on file

Admin fee / account holder

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

$376

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 2 by compensation

Provider	Service type	Compensation
SAGEVIEW ADVISORY GROUP, LLC1 year Service code 26 4000 MACARTHUR BLVD · NEWPORT BEACH, CA 92612	Advisory (Participants)	$18,919
NEWPORT GROUP, INC.8 years Service code 15 · EIN 27-2037969	Recordkeeping	$10,946

Plan features & details

Pension benefit codes2A2F2G2L2M2S3D

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).
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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$33K

$487 / participant

Recordkeeping$10K32.0%
Trustee / custodial$3K8.4%
Investment mgmt$19K58.0%
Contract admin$5201.6%

% of EOY assets

0.407%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HAINES, ISENBARGER & SKIBA, LLC.
Auditor EIN: 522127371
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$66,279

$77,920-14.9%

$149,723-55.7%

$75,177-11.8%

Participation rate

95.5%

65.6%+29.9pp

78.8%+16.7pp

67.2%+28.3pp

Annual return

18.72%

31.72%-13.0pp

134.50%-115.8pp

160.75%-142.0pp

Employer contribution / active EE

$4,242

$3,138+35.2%

$4,821-12.0%

$2,671+58.8%

Participant deferral / active EE

$6,144

$3,411+80.1%

$5,682+8.1%

$4,126+48.9%

Admin fee / account holder

$269

$5,951-95.5%

$13,215-98.0%

$5,651-95.2%

Provider

Service type

Compensation

SAGEVIEW ADVISORY GROUP, LLC1 year

Service code 26

4000 MACARTHUR BLVD · NEWPORT BEACH, CA 92612

Advisory (Participants)

$18,919

NEWPORT GROUP, INC.8 years

Service code 15 · EIN 27-2037969

Recordkeeping

$10,946

FORT WAYNE MEDICAL EDUCATION PROGRAM 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FORT WAYNE MEDICAL EDUCATION PROGRAM 403(B) 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