Retirement plan

MICHIGAN KIDNEY CONSULTANTS, P.C. 401(K) PROFIT SHARING PLAN & TRUST

Name: MICHIGAN KIDNEY CONSULTANTS, P.C. - MICHIGAN KIDNEY CONSULTANTS, P.C. 401(K) PROFIT SHARING PLAN & TRUST (2022) Form 5500
Creator: MICHIGAN KIDNEY CONSULTANTS, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MICHIGAN KIDNEY CONSULTANTS, P.C. 401(K) PROFIT SHARING PLAN & TRUST, MICHIGAN KIDNEY CONSULTANTS, P.C.

MICHIGAN KIDNEY CONSULTANTS, P.C.EIN 38-2393492Plan #002PY 2022

5280 METROPOLITAN PARKWAY - STERLING HEIGHTS, MI 48310248-290-3111michigankidney.comLinkedIn11-50 employeesmedical practice

Prospect flagsHigh feesHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$25.2M

-14.9% from 2021

Total participants

100

+6.4% from 2021

Average account balance

$268,040

-17.6% from 2021

Annual return

-18.49%

-36.52 pp from 2021

Benchmarks

See 19,701 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort19,701 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$37.59M

Not enough data

1 years with asset history on file

Average account balance

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

$392K

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.

124.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.86M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$24K

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

+17.47%

Not enough data

1 years with return on file

Admin fee / account holder

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

$17674

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 codes2E2H2J3D2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$705K

$9795 / participant

Other / not subdivided$705K100.0%

% of EOY assets

2.799%

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

$268,040

$73,863+262.9%

$143,797+86.4%

$68,490+291.4%

Participation rate

91.7%

66.7%+25.0pp

80.3%+11.3pp

67.9%+23.8pp

Annual return

-18.49%

0.91%-19.4pp

-0.04%-18.4pp

-7.85%-10.6pp

Employer contribution / active EE

$15,275

$3,185+379.6%

$4,952+208.4%

$2,597+488.2%

Participant deferral / active EE

$8,201

$3,385+142.3%

$5,638+45.4%

$4,028+103.6%

Admin fee / account holder

$7,503

$5,756+30.3%

$14,679-48.9%

$5,403+38.9%

MICHIGAN KIDNEY CONSULTANTS, P.C. 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MICHIGAN KIDNEY CONSULTANTS, P.C. 401(K) PROFIT SHARING PLAN & TRUST

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