Retirement plan

MICHIGAN ACADEMY OF FAMILY PHYSICIANS 401K PLAN

Name: MICHIGAN ACADEMY OF FAMILY PHYSI - MICHIGAN ACADEMY OF FAMILY PHYSICIANS 401K PLAN (2020) Form 5500
Creator: MICHIGAN ACADEMY OF FAMILY PHYSI
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MICHIGAN ACADEMY OF FAMILY PHYSICIANS 401K PLAN, MICHIGAN ACADEMY OF FAMILY PHYSI

MICHIGAN ACADEMY OF FAMILY PHYSIEIN 38-2970886Plan #001PY 2020

2164 COMMONS PARKWAY - OKEMOS, MI 48864517-347-0098mafp.comLinkedIn1-10 employeeshospital & health care

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$366K

+18.2% from 2019

Total participants

0.0% from 2019

Average account balance

$45,812

+18.2% from 2019

Annual return

9.81%

-17.01 pp from 2019

Benchmarks

See 36,228 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort36,228 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$465K

Not enough data

1 years with asset history on file

Average account balance

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

$66K

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.

233.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$24K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+8.20%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2057

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 codes2E2F2G2J2T3D

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.
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

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

$2K

$466 / participant

Other / not subdivided$2K100.0%

% of EOY assets

0.509%

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

$45,812

$100,895-54.6%

$90,430-49.3%

$158,950-71.2%

Participation rate

100.0%

75.0%+25.0pp

72.7%+27.3pp

82.0%+18.0pp

Annual return

9.81%

1725.54%-1715.7pp

1293.73%-1283.9pp

302.91%-293.1pp

Employer contribution / active EE

$2,408

$3,689-34.7%

$3,262-26.2%

$4,762-49.4%

Participant deferral / active EE

$4,123

$4,347-5.2%

$3,963+4.1%

$5,983-31.1%

Admin fee / account holder

$233

$6,505-96.4%

$5,613-95.8%

$11,248-97.9%

MICHIGAN ACADEMY OF FAMILY PHYSICIANS 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MICHIGAN ACADEMY OF FAMILY PHYSICIANS 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