Retirement plan

MEDICAL WEIGHT LOSS CLINIC, INC. 401(K) PLAN

Name: MEDICAL WEIGHT LOSS CLINIC, INC. - MEDICAL WEIGHT LOSS CLINIC, INC. 401(K) PLAN (2016) Form 5500
Creator: MEDICAL WEIGHT LOSS CLINIC, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MEDICAL WEIGHT LOSS CLINIC, INC. 401(K) PLAN, MEDICAL WEIGHT LOSS CLINIC, INC.

MEDICAL WEIGHT LOSS CLINIC, INC.EIN 38-2663227Plan #001PY 2016

23625 NORTHWESTERN HWY - SOUTHFIELD, MI 48075248-353-8446mwlc.comLinkedIn51-200 employeeshealth, wellness and fitness

Prospect flagsLow participationLow employer contributionLow fidelity bond

How to read this page

Total assets (EOY)

$1.4M

+19.9% from 2015

Total participants

0.0% from 2015

Average account balance

$53,412

+29.1% from 2015

Annual return

12.91%

+16.72 pp from 2015

Benchmarks

See 7,815 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort7,815 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.24M

Not enough data

1 years with asset history on file

Average account balance

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

$64K

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.

53.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$202K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+12.67%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5650

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

Top 1 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290	Contract Administrator	$352

Plan features & details

Pension benefit codes2A2E2G2J2K3D

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).
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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$652

$7 / participant

Contract admin$652100.0%

% of EOY assets

0.047%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: FENNER,MELSTROM, & DOOLING PLC
Auditor EIN: 381402622
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$53,412

$48,078+11.1%

$78,676-32.1%

$62,881-15.1%

Participation rate

25.0%

65.2%-40.2pp

73.6%-48.6pp

69.3%-44.3pp

Annual return

12.91%

31.36%-18.4pp

62.19%-49.3pp

20.14%-7.2pp

Employer contribution / active EE

$2,015-100.0%

$2,850-100.0%

$2,281-100.0%

Participant deferral / active EE

$899

$2,587-65.3%

$3,517-74.4%

$3,203-71.9%

Admin fee / account holder

$25

$3,206-99.2%

$4,510-99.4%

$4,296-99.4%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY2+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$352

MEDICAL WEIGHT LOSS CLINIC, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MEDICAL WEIGHT LOSS CLINIC, INC. 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