Retirement plan

INTERNAL MEDICINE OF WEST MICHIGAN PLLC PROFIT SHARING AND 401(K) PLAN

Name: INTERNAL MEDICINE OF WEST MICHIGAN, P.L.L.C. - INTERNAL MEDICINE OF WEST MICHIGAN PLLC PROFIT SHARING AND 401(K) PLAN (2024) Form 5500
Creator: INTERNAL MEDICINE OF WEST MICHIGAN, P.L.L.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INTERNAL MEDICINE OF WEST MICHIGAN PLLC PROFIT SHARING AND 401(K) PLAN, INTERNAL MEDICINE OF WEST MICHIGAN, P.L.L.C.

INTERNAL MEDICINE OF WEST MICHIGAN, P.L.L.C.EIN 38-1792592Plan #003PY 2024

3200 EAGLE PARK DR., N.E., STE.102 - GRAND RAPIDS, MI 49525616-285-9090imwm.healthcareLinkedIn11-50 employeesmedical practice

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2M

+14.1% from 2023

Total participants

+5.3% from 2023

Average account balance

$101,050

+8.4% from 2023

Annual return

15.92%

+3.44 pp from 2023

Benchmarks

See 109,389 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort109,389 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.02M

Not enough data

1 years with asset history on file

Average account balance

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

$101K

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.

133.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$105K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+15.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6815

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

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2G2J3B3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

$136K

$9087 / participant

Other / not subdivided$136K100.0%

% of EOY assets

6.744%

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

$101,050

$183,592-45.0%

$155,574-35.0%

$145,877-30.7%

Participation rate

100.0%

82.7%+17.3pp

78.2%+21.8pp

80.3%+19.7pp

Annual return

15.92%

61.37%-45.5pp

64.87%-48.9pp

551.28%-535.4pp

Employer contribution / active EE

$2,215

$5,317-58.3%

$4,676-52.6%

$4,663-52.5%

Participant deferral / active EE

$4,777

$6,466-26.1%

$5,629-15.1%

$6,691-28.6%

Admin fee / account holder

$6,815

$19,316-64.7%

$15,914-57.2%

$13,402-49.1%

INTERNAL MEDICINE OF WEST MICHIGAN PLLC PROFIT SHARING AND 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INTERNAL MEDICINE OF WEST MICHIGAN PLLC PROFIT SHARING AND 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