Retirement plan

CASSOPOLIS FAMILY CLINIC NETWORK 401(K) PLAN

Name: LAKELAND IMMEDIATE CARE CENTER, - CASSOPOLIS FAMILY CLINIC NETWORK 401(K) PLAN (2024) Form 5500
Creator: LAKELAND IMMEDIATE CARE CENTER,
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CASSOPOLIS FAMILY CLINIC NETWORK 401(K) PLAN, LAKELAND IMMEDIATE CARE CENTER,

LAKELAND IMMEDIATE CARE CENTER,dba DBA CASSOPOLIS FAMILY CLINIC NETWORKEIN 38-3082107Plan #001PY 2024

261 M-62 - CASSOPOLIS, MI 490311034269-445-3874LinkedIn51-200 employeesmedical practice

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$4.8M

+24.7% from 2023

Total participants

145

+5.8% from 2023

Average account balance

$43,568

+28.1% from 2023

Annual return

17.11%

-1.08 pp from 2023

Benchmarks

See 5,998 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,998 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.84M

Not enough data

1 years with asset history on file

Average account balance

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

$44K

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.

111

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.

73.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$996K

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

+17.11%

Not enough data

1 years with return on file

Admin fee / account holder

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

$328

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 3 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY7+ years Service code 13 · EIN 42-0127290	Contract Administrator	$18,382
M HOLDINGS SECURITIES INC1 year Filed as: M HOLDINGS SECURITIES, INC Service code 27 · EIN 91-1802259	Advisory (Plan)	$11,450
JOHN HANCOCK LIFE INSURANCE COMPANY1 year Filed as: JOHN HANCOCK Service code 15 · EIN 01-0233346	Recordkeeping	$5,954

Plan features & details

Pension benefit codes2J2K2T3D

Plan features

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.
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

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

$36K

$287 / participant

Investment mgmt$11K31.4%
Contract admin$25K68.6%

% of EOY assets

0.753%

all-in expense ratio

Categories reported

2 / 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

$43,568

$55,437-21.4%

$155,534-72.0%

$74,459-41.5%

Participation rate

73.2%

61.9%+11.3pp

78.2%-5.0pp

67.2%+6.0pp

Annual return

17.11%

269.58%-252.5pp

64.92%-47.8pp

1369.70%-1352.6pp

Employer contribution / active EE

$2,629

$2,266+16.0%

$4,675-43.8%

$2,626+0.1%

Participant deferral / active EE

$5,213

$2,837+83.7%

$5,630-7.4%

$4,350+19.8%

Admin fee / account holder

$328

$1,742-81.2%

$15,900-97.9%

$1,945-83.1%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY7+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$18,382

M HOLDINGS SECURITIES INC1 year

Filed as: M HOLDINGS SECURITIES, INC

Service code 27 · EIN 91-1802259

Advisory (Plan)

$11,450

JOHN HANCOCK LIFE INSURANCE COMPANY1 year

Filed as: JOHN HANCOCK

Service code 15 · EIN 01-0233346

Recordkeeping

$5,954

CASSOPOLIS FAMILY CLINIC NETWORK 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CASSOPOLIS FAMILY CLINIC NETWORK 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