Retirement plan

SOUTHERN MINNESOTA ORTHODONTICS, P.A. 401(K) PROFIT SHARING PLAN AND TRUST

Name: SOUTHERN MINNESOTA ORTHODONTICS, P.A. - SOUTHERN MINNESOTA ORTHODONTICS, P.A. 401(K) PROFIT SHARING PLAN AND TRUST (2024) Form 5500
Creator: SOUTHERN MINNESOTA ORTHODONTICS, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOUTHERN MINNESOTA ORTHODONTICS, P.A. 401(K) PROFIT SHARING PLAN AND TRUST, SOUTHERN MINNESOTA ORTHODONTICS, P.A.

SOUTHERN MINNESOTA ORTHODONTICS, P.A.EIN 41-0977374Plan #001PY 2024

1545 ADAMS ST - MANKATO, MN 56001507-388-2989smnortho.comLinkedIn11-50 employeesmedical practice

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$6.2M

+6.1% from 2023

Total participants

+3.8% from 2023

Average account balance

$249,098

+6.1% from 2023

Annual return

14.15%

-2.34 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

$6.23M

Not enough data

1 years with asset history on file

Average account balance

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

$249K

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.

113.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$327K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+14.15%

Not enough data

1 years with return on file

Admin fee / account holder

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

$32031

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 codes2E2F2H2J2T3D

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).
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.
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

$801K

$36399 / participant

Other / not subdivided$801K100.0%

% of EOY assets

12.859%

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

$249,098

$183,516+35.7%

$155,534+60.2%

$145,884+70.8%

Participation rate

90.9%

82.7%+8.2pp

78.2%+12.7pp

80.3%+10.6pp

Annual return

14.15%

61.43%-47.3pp

64.92%-50.8pp

551.85%-537.7pp

Employer contribution / active EE

$9,090

$5,315+71.0%

$4,675+94.5%

$4,662+95.0%

Participant deferral / active EE

$5,769

$6,467-10.8%

$5,630+2.5%

$6,690-13.8%

Admin fee / account holder

$32,031

$19,293+66.0%

$15,900+101.5%

$13,392+139.2%

SOUTHERN MINNESOTA ORTHODONTICS, P.A. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOUTHERN MINNESOTA ORTHODONTICS, P.A. 401(K) PROFIT SHARING PLAN AND TRUST

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