Retirement plan

REGIONAL MEDICAL IMAGING PC 401K PLAN

Name: REGIONAL MEDICAL IMAGING PC - REGIONAL MEDICAL IMAGING PC 401K PLAN (2024) Form 5500
Creator: REGIONAL MEDICAL IMAGING PC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, REGIONAL MEDICAL IMAGING PC 401K PLAN, REGIONAL MEDICAL IMAGING PC

REGIONAL MEDICAL IMAGING PCEIN 38-2608391Plan #001PY 2024

3346 LENNON ROAD - FLINT, MI 485071082810-732-1994rmipc.netLinkedIn51-200 employeesmedical practice

Prospect flagsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$12.1M

+8.2% from 2023

Total participants

325

+9.8% from 2023

Average account balance

$37,432

-6.8% from 2023

Annual return

14.93%

-2.08 pp from 2023

Benchmarks

See 6,010 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort6,010 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.09M

Not enough data

1 years with asset history on file

Average account balance

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

$37K

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.

323

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.

99.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.12M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+14.93%

Not enough data

1 years with return on file

Admin fee / account holder

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

$77

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
BETTERMENT LLC8 years Service code 15 · EIN 90-0735456 61 WEST 23RD STREET · NEW YORK, NY 10010	Recordkeeping	$22,753
EPIC RETIREMENT PLAN SERVICES5 years Filed as: KDP RETIREMENT PLAN SERVICES Service code 13 3060 LAKE EASTBROOK BLVD SE · GRAND RAPIDS, MI 49512	Contract Administrator	$2,252

Plan features & details

Pension benefit codes2E2G2J2K3D2F

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.
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

2 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$25K

$104 / participant

Recordkeeping$25K100.0%

% of EOY assets

0.207%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: YEO & YEO PC
Auditor EIN: 382706146
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,432

$55,423-32.5%

$155,602-75.9%

$74,400-49.7%

Participation rate

99.2%

61.9%+37.3pp

78.2%+21.0pp

67.2%+32.0pp

Annual return

14.93%

269.07%-254.1pp

64.81%-49.9pp

1367.51%-1352.6pp

Employer contribution / active EE

$1,287

$2,266-43.2%

$4,675-72.5%

$2,624-51.0%

Participant deferral / active EE

$3,383

$2,835+19.4%

$5,629-39.9%

$4,348-22.2%

Admin fee / account holder

$77

$1,744-95.6%

$15,923-99.5%

$1,944-96.0%

Provider

Service type

Compensation

BETTERMENT LLC8 years

Service code 15 · EIN 90-0735456

61 WEST 23RD STREET · NEW YORK, NY 10010

Recordkeeping

$22,753

EPIC RETIREMENT PLAN SERVICES5 years

Filed as: KDP RETIREMENT PLAN SERVICES

Service code 13

3060 LAKE EASTBROOK BLVD SE · GRAND RAPIDS, MI 49512

Contract Administrator

$2,252

REGIONAL MEDICAL IMAGING PC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

REGIONAL MEDICAL IMAGING PC 401K 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