Retirement plan

SPRINGFIELD CLINIC, LLP 401(K) EES' BENEFIT AND RETIREMENT PLAN

Name: SPRINGFIELD CLINIC, LLP - SPRINGFIELD CLINIC, LLP 401(K) EES' BENEFIT AND RETIREMENT PLAN (2022) Form 5500
Creator: SPRINGFIELD CLINIC, LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPRINGFIELD CLINIC, LLP 401(K) EES' BENEFIT AND RETIREMENT PLAN, SPRINGFIELD CLINIC, LLP

SPRINGFIELD CLINIC, LLPEIN 37-0701328Plan #003PY 2022

1025 SOUTH SIXTH STREET, PO BOX 19248 - SPRINGFIELD, IL 62703217-528-7541springfieldclinic.comLinkedIn1001-5000 employeeshospital & health care

Prospect flagsCorrective distributions

Top hat statement on fileNQDC

Filed July 1, 2022 (most recent of 3 filings on file)

Plan administrator

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1025 South Sixth Street

Springfield, IL 62703

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Plans declared (1)

Plan name not on file1 emp

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Total assets (EOY)

$373.2M

-10.3% from 2021

Total participants

4,081

+6.6% from 2021

Average account balance

$91,443

-18.4% from 2021

Annual return

-13.57%

-27.23 pp from 2021

Benchmarks

See 1,377 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,377 peers

Snapshot2022

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

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Analytics

Total assets (EOY)

Plan-year ending balance

$516.73M

Not enough data

1 years with asset history on file

Average account balance

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

$114K

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.

4,547

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.

89.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$47.72M

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

+17.52%

Not enough data

1 years with return on file

Admin fee / account holder

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

$71

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

See the 10-year trajectory. $4.99 for your first month.

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
PRUDENTIAL RETIREMENT INSURANCE AND4 years Service code 13 · EIN 06-1050034	Contract Administrator	$184,778
THE ASCENT GROUP, LLC2 years Service code 27 · EIN 86-3001816	Advisory (Plan)	$104,381
PRUDENTIAL RETIREMENT INSURANCE AND4 years Filed as: PRUDENTIAL INVESTMENT MANAGEMENT SE Service code 63 · EIN 13-4122960	12b-1 Fees	$2,786

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$289K

$83 / participant

Investment mgmt$104K36.1%
Contract admin$184K63.6%
Other / not subdivided$8700.3%

% of EOY assets

0.078%

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: CROWE LLP
Auditor EIN: 350921680
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$91,443

$45,000+103.2%

$143,757-36.4%

$77,904+17.4%

Participation rate

100.0%

66.8%+33.2pp

80.3%+19.7pp

73.7%+26.3pp

Annual return

-13.57%

29.03%-42.6pp

-0.04%-13.5pp

12.21%-25.8pp

Employer contribution / active EE

$4,880

$1,870+161.1%

$4,951-1.4%

$2,848+71.4%

Participant deferral / active EE

$6,089

$3,157+92.9%

$5,637+8.0%

$4,806+26.7%

Admin fee / account holder

$71

$98-28.0%

$14,673-99.5%

$133-46.5%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND4 years

Service code 13 · EIN 06-1050034

Contract Administrator

$184,778

THE ASCENT GROUP, LLC2 years

Service code 27 · EIN 86-3001816

Advisory (Plan)

$104,381

PRUDENTIAL RETIREMENT INSURANCE AND4 years

Filed as: PRUDENTIAL INVESTMENT MANAGEMENT SE

Service code 63 · EIN 13-4122960

12b-1 Fees

$2,786

SPRINGFIELD CLINIC, LLP 401(K) EES' BENEFIT AND RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPRINGFIELD CLINIC, LLP 401(K) EES' BENEFIT AND RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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