Retirement plan

MINNESOTA UROLOGY P. A. 401(K) PROFIT SHARING PLAN

Name: MINNESOTA UROLOGY P.A. - MINNESOTA UROLOGY P. A. 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: MINNESOTA UROLOGY P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MINNESOTA UROLOGY P. A. 401(K) PROFIT SHARING PLAN, MINNESOTA UROLOGY P.A.

MINNESOTA UROLOGY P.A.EIN 41-0960332Plan #002PY 2022

3001 METRO DRIVE, SUITE 460 - BLOOMINGTON, MN 55425651-999-2727mnurology.comLinkedIn201-500 employeeshospital & health care

Prospect flagsHigh feesFailed to transmit contributions

Top hat statement on fileNQDC

Filed November 16, 2004

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$47M

-16.6% from 2021

Total participants

404

+15.1% from 2021

Average account balance

$116,237

-27.5% from 2021

Annual return

-17.31%

-31.32 pp from 2021

Benchmarks

See 5,349 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,349 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$54.16M

Not enough data

1 years with asset history on file

Average account balance

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

$123K

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.

440

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.

98.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.67M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+12.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

$492

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

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
ALERUS FINANCIAL, N.A.8+ years Service code 21 · EIN 45-0140105	Bank Trustee	$62,922
UBS FINANCIAL SERVICES INC6 years Filed as: UBS FINANCIAL SERVICES, INC. Service code 33 444 CEDAR STREET · ST. PAUL, MN 55101	Direct payment from the plan; Securit...	$42,718
SAGE ADVISORY SERVICES6 years Filed as: SAGE POINT FINANCIAL INC. Service code 33 2800 N. CENTRAL AVENUE · PHOENIX, AZ 85004	Securities brokerage; Direct payment ...	$41,595
PARATUS WEALTH MANAGEMENT LLC6 years Service code 33 10800 LYNDALE AVE S · MINNEAPOLIS, MN 55420	Direct payment from the plan; Securit...	$37,142
BOULAY PLLP1 year Filed as: BOULAY FINANCIAL ADVISORS LLC Service code 33 11095 VIKING DRIVE #500 · EDEN PRAIRIE, MN 553443740	Direct payment from the plan; Securit...	$16,932
KESTRA INVESTMENT SERVICES LLC7 years Service code 33 · EIN 35-2552359	Securities brokerage; Direct payment ...	$10,323

Plan features & details

Pension benefit codes2A2E2F2G2J2K2R2T3D

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.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$212K

$1047 / participant

Contract admin$212K100.0%

% of EOY assets

0.452%

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: DS&B, LTD.
Auditor EIN: 411475695
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$116,237

$65,092+78.6%

$143,799-19.2%

$66,938+73.6%

Participation rate

100.0%

65.2%+34.8pp

80.3%+19.7pp

69.8%+30.2pp

Annual return

-17.31%

-11.14%-6.2pp

-0.04%-17.3pp

1.58%-18.9pp

Employer contribution / active EE

$9,208

$2,362+289.9%

$4,952+85.9%

$2,545+261.8%

Participant deferral / active EE

$5,955

$2,920+103.9%

$5,638+5.6%

$4,238+40.5%

Admin fee / account holder

$526

$502+4.7%

$14,677-96.4%

$594-11.4%

Provider

Service type

Compensation

ALERUS FINANCIAL, N.A.8+ years

Service code 21 · EIN 45-0140105

Bank Trustee

$62,922

UBS FINANCIAL SERVICES INC6 years

Filed as: UBS FINANCIAL SERVICES, INC.

Service code 33

444 CEDAR STREET · ST. PAUL, MN 55101

Direct payment from the plan; Securit...

$42,718

SAGE ADVISORY SERVICES6 years

Filed as: SAGE POINT FINANCIAL INC.

Service code 33

2800 N. CENTRAL AVENUE · PHOENIX, AZ 85004

Securities brokerage; Direct payment ...

$41,595

PARATUS WEALTH MANAGEMENT LLC6 years

Service code 33

10800 LYNDALE AVE S · MINNEAPOLIS, MN 55420

Direct payment from the plan; Securit...

$37,142

BOULAY PLLP1 year

Filed as: BOULAY FINANCIAL ADVISORS LLC

Service code 33

11095 VIKING DRIVE #500 · EDEN PRAIRIE, MN 553443740

Direct payment from the plan; Securit...

$16,932

KESTRA INVESTMENT SERVICES LLC7 years

Service code 33 · EIN 35-2552359

Securities brokerage; Direct payment ...

$10,323

MINNESOTA UROLOGY P. A. 401(K) PROFIT SHARING PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MINNESOTA UROLOGY P. A. 401(K) PROFIT SHARING PLAN

Top hat statement on fileNQDC

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