Retirement plan

METROPOLITAN ANESTHESIA NETWORK PROFIT SHARING PLAN

Name: METROPOLITAN ANESTHESIA NETWORK, LLP - METROPOLITAN ANESTHESIA NETWORK PROFIT SHARING PLAN (2022) Form 5500
Creator: METROPOLITAN ANESTHESIA NETWORK, LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, METROPOLITAN ANESTHESIA NETWORK PROFIT SHARING PLAN, METROPOLITAN ANESTHESIA NETWORK, LLP

METROPOLITAN ANESTHESIA NETWORK, LLPEIN 41-1524692Plan #001PY 2022

14700 28TH AVENUE NORTH, SUITE 20 - PLYMOUTH, MN 55447763-559-3779LinkedIn201-500 employeesmedical practice

Prospect flagsLow returnsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$274M

-7.8% from 2016

Total participants

638

-27.8% from 2016

Average account balance

$443,414

+19.3% from 2016

Annual return

-17.75%

-6.65 pp from 2016

Benchmarks

See 3,874 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort3,874 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$391.11M

Not enough data

1 years with asset history on file

Average account balance

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

$595K

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.

657

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.

94.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$23.36M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$42K

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

+18.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$466

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 10 of 15 by compensation

Provider	Service type	Compensation
PUNCH & ASSOCIATES2 years Filed as: PUNCH & ASSOC INVESTMENT MANAG Service code 26 · EIN 82-0566501	Advisory (Participants)	$94,906
MURPHY POHLAD ASSET MANAGEMENT2 years Service code 26 · EIN 41-1962811	Advisory (Participants)	$40,463
CHARLES SCHWAB & CO., INC.2 years Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$36,093
PLANNERS FINANCIAL SERVICES2 years Service code 26 · EIN 41-0984446	Advisory (Participants)	$21,121
KOVITZ INVESTMENT GROUP2 years Filed as: KOVITZ INVESTMENT GROUP PARTNE Service code 26 · EIN 47-5657416	Advisory (Participants)	$20,399
LMCG INVESTMENTS LLC2 years Service code 26 · EIN 27-0282607	Advisory (Participants)	$19,679
AMERICAN FUNDS2 years Filed as: ADVANCED CAPITAL GROUP INC Service code 26 · EIN 41-1921960	Advisory (Participants)	$18,355
COMPASS CAPITAL MANAGEMENT INC2 years Service code 26 · EIN 41-1611668	Advisory (Participants)	$13,803
BANNERSTONE CAPITAL MANAGEMENT8+ years Service code 26 · EIN 26-2360041	Advisory (Participants)	$13,576
DUVAL INVESTMENT GROUP LLC2 years Service code 26 · EIN 46-2046525	Advisory (Participants)	$9,082

Plan features & details

Pension benefit codes2E2F2G2J2K2R2T3D3F3H

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.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$318K

$600 / participant

Investment mgmt$282K88.6%
Other / not subdivided$36K11.4%

% of EOY assets

0.116%

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: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$443,414

$46,339+856.9%

$143,801+208.4%

$64,829+584.0%

Participation rate

96.2%

64.3%+32.0pp

80.3%+15.9pp

71.5%+24.7pp

Annual return

-17.75%

-10.05%-7.7pp

-0.04%-17.7pp

32.85%-50.6pp

Employer contribution / active EE

$20,901

$1,911+993.6%

$4,952+322.0%

$2,507+733.6%

Participant deferral / active EE

$17,076

$2,648+544.9%

$5,639+202.8%

$4,312+296.1%

Admin fee / account holder

$514

$154+234.0%

$14,680-96.5%

$188+173.6%

Provider

Service type

Compensation

PUNCH & ASSOCIATES2 years

Filed as: PUNCH & ASSOC INVESTMENT MANAG

Service code 26 · EIN 82-0566501

Advisory (Participants)

$94,906

MURPHY POHLAD ASSET MANAGEMENT2 years

Service code 26 · EIN 41-1962811

Advisory (Participants)

$40,463

CHARLES SCHWAB & CO., INC.2 years

Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$36,093

PLANNERS FINANCIAL SERVICES2 years

Service code 26 · EIN 41-0984446

Advisory (Participants)

$21,121

KOVITZ INVESTMENT GROUP2 years

Filed as: KOVITZ INVESTMENT GROUP PARTNE

Service code 26 · EIN 47-5657416

Advisory (Participants)

$20,399

LMCG INVESTMENTS LLC2 years

Service code 26 · EIN 27-0282607

Advisory (Participants)

$19,679

AMERICAN FUNDS2 years

Filed as: ADVANCED CAPITAL GROUP INC

Service code 26 · EIN 41-1921960

Advisory (Participants)

$18,355

COMPASS CAPITAL MANAGEMENT INC2 years

Service code 26 · EIN 41-1611668

Advisory (Participants)

$13,803

BANNERSTONE CAPITAL MANAGEMENT8+ years

Service code 26 · EIN 26-2360041

Advisory (Participants)

$13,576

DUVAL INVESTMENT GROUP LLC2 years

Service code 26 · EIN 46-2046525

Advisory (Participants)

$9,082

METROPOLITAN ANESTHESIA NETWORK PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

METROPOLITAN ANESTHESIA NETWORK 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