Retirement plan

KENTWOOD FAMILY PHYSICIANS PC EMPLOYEE 401(K) PROFIT SHARING PLAN

Name: KENTWOOD FAMILY PHYSICIANS, PC - KENTWOOD FAMILY PHYSICIANS PC EMPLOYEE 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: KENTWOOD FAMILY PHYSICIANS, PC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KENTWOOD FAMILY PHYSICIANS PC EMPLOYEE 401(K) PROFIT SHARING PLAN, KENTWOOD FAMILY PHYSICIANS, PC

KENTWOOD FAMILY PHYSICIANS, PCEIN 38-3297400Plan #001PY 2024

5070 CASCADE ROAD, SE - GRAND RAPIDS, MI 49546616-281-9066kentwoodfamily.comLinkedIn1-10 employeesmedical devices

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.5M

+15.0% from 2023

Total participants

0.0% from 2023

Average account balance

$220,490

+15.0% from 2023

Annual return

11.97%

-1.71 pp from 2023

Benchmarks

See 109,298 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort109,298 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.54M

Not enough data

1 years with asset history on file

Average account balance

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

$220K

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.

116.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$41K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+11.97%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1880

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 codes2E3D2J2H

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.
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

$13K

$2194 / participant

Other / not subdivided$13K100.0%

% of EOY assets

0.853%

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

$220,490

$183,516+20.1%

$155,534+41.8%

$145,884+51.1%

Participation rate

100.0%

82.7%+17.3pp

78.2%+21.8pp

80.3%+19.7pp

Annual return

11.97%

61.43%-49.5pp

64.92%-52.9pp

551.85%-539.9pp

Employer contribution / active EE

$2,432

$5,315-54.2%

$4,675-48.0%

$4,662-47.8%

Participant deferral / active EE

$4,425

$6,467-31.6%

$5,630-21.4%

$6,690-33.9%

Admin fee / account holder

$1,880

$19,293-90.3%

$15,900-88.2%

$13,392-86.0%

KENTWOOD FAMILY PHYSICIANS PC EMPLOYEE 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KENTWOOD FAMILY PHYSICIANS PC EMPLOYEE 401(K) PROFIT SHARING 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