Retirement plan

LAKEWOOD CLINIC, P.A. PROFIT SHARING & 401(K) PLAN

Name: LAKEWOOD CLINIC, P.A. - LAKEWOOD CLINIC, P.A. PROFIT SHARING & 401(K) PLAN (2024) Form 5500
Creator: LAKEWOOD CLINIC, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LAKEWOOD CLINIC, P.A. PROFIT SHARING & 401(K) PLAN, LAKEWOOD CLINIC, P.A.

LAKEWOOD CLINIC, P.A.EIN 41-1322271Plan #001PY 2024

49725 COUNTY ROAD 83 - STAPLES, MN 56479218-894-8600

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$25.3M

+21.8% from 2023

Total participants

+21.4% from 2023

Average account balance

$745,398

+0.3% from 2023

Annual return

11.88%

-11.69 pp from 2023

Benchmarks

See 21,710 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort21,710 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$25.34M

Not enough data

1 years with asset history on file

Average account balance

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

$745K

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.

106.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.07M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$65K

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

+11.88%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1389

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 codes2E2G2J2R2T3D2F

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.
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.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$47K

$1476 / participant

Other / not subdivided$47K100.0%

% of EOY assets

0.186%

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

$745,398

$81,331+816.5%

$155,534+379.2%

$80,935+821.0%

Participation rate

100.0%

66.3%+33.7pp

78.2%+21.8pp

67.7%+32.3pp

Annual return

11.88%

33.37%-21.5pp

64.92%-53.0pp

35.66%-23.8pp

Employer contribution / active EE

$61,796

$3,105+1890.4%

$4,675+1221.9%

$2,757+2141.7%

Participant deferral / active EE

$2,873

$3,454-16.8%

$5,630-49.0%

$4,299-33.2%

Admin fee / account holder

$1,389

$7,999-82.6%

$15,900-91.3%

$6,924-79.9%

LAKEWOOD CLINIC, P.A. PROFIT SHARING & 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LAKEWOOD CLINIC, P.A. PROFIT SHARING & 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