Retirement plan

METROPOLITAN ANESTHESIA NETWORK PROFIT SHARING PLAN

Name: METROPOLITAN ANESTHESIA NETWORK, LLP - METROPOLITAN ANESTHESIA NETWORK PROFIT SHARING PLAN (2023) 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 2023

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

Prospect flagsHigh feesHigh assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$330.2M

+20.5% from 2022

Total participants

660

+3.4% from 2022

Average account balance

$512,700

+15.6% from 2022

Annual return

18.21%

+35.96 pp from 2022

Benchmarks

See 4,038 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,038 peers

Snapshot2023

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

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

Service providers

Top 10 of 13 by compensation

Provider	Service type	Compensation
PUNCH & ASSOCIATES3 years Filed as: PUNCH & ASSOC INVESTMENT MANAG Service code 26 · EIN 82-0566501	Advisory (Participants)	$94,075
CHARLES SCHWAB & CO., INC.3 years Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$31,822
COMPASS CAPITAL MANAGEMENT INC3 years Service code 26 · EIN 41-1611668	Advisory (Participants)	$23,943
AMERICAN FUNDS3 years Filed as: ADVANCED CAPITAL GROUP INC Service code 26 · EIN 41-1921960	Advisory (Participants)	$23,754
MURPHY POHLAD ASSET MANAGEMENT3 years Service code 26 · EIN 41-1962811	Advisory (Participants)	$16,052
INTELLICENTS INVESTMENT SOLUTIONS I2 years Filed as: INTELLICENTS INVESTMENT Service code 26 · EIN 41-1812533	Advisory (Participants)	$14,583
KOVITZ INVESTMENT GROUP3 years Filed as: KOVITZ INVESTMENT GROUP PARTNE Service code 26 · EIN 47-5657416	Advisory (Participants)	$13,335
BANNERSTONE CAPITAL MANAGEMENT9+ years Service code 26 · EIN 26-2360041	Advisory (Participants)	$11,580
CAHILL FINANCIAL ADVISORS INC3 years Service code 26 · EIN 45-4112505	Advisory (Participants)	$7,269
CHARLES SCHWAB & CO., INC.4 years Service code 33 · EIN 94-1737782	Securities brokerage; Securities brok...	$6,719

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.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$260K

$488 / participant

Recordkeeping$30K11.7%
Investment mgmt$230K88.3%

% of EOY assets

0.079%

all-in expense ratio

Categories reported

2 / 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

$512,700

$47,163+987.1%

$149,696+242.5%

$74,460+588.6%

Participation rate

97.0%

63.4%+33.6pp

78.8%+18.2pp

70.7%+26.3pp

Annual return

18.21%

22.75%-4.5pp

134.46%-116.2pp

34.38%-16.2pp

Employer contribution / active EE

$23,620

$1,907+1138.8%

$4,821+390.0%

$2,638+795.3%

Participant deferral / active EE

$18,377

$2,730+573.1%

$5,682+223.4%

$4,530+305.7%

Admin fee / account holder

$404

$343+17.9%

$13,212-96.9%

$348+16.2%

Provider

Service type

Compensation

PUNCH & ASSOCIATES3 years

Filed as: PUNCH & ASSOC INVESTMENT MANAG

Service code 26 · EIN 82-0566501

Advisory (Participants)

$94,075

CHARLES SCHWAB & CO., INC.3 years

Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$31,822

COMPASS CAPITAL MANAGEMENT INC3 years

Service code 26 · EIN 41-1611668

Advisory (Participants)

$23,943

AMERICAN FUNDS3 years

Filed as: ADVANCED CAPITAL GROUP INC

Service code 26 · EIN 41-1921960

Advisory (Participants)

$23,754

MURPHY POHLAD ASSET MANAGEMENT3 years

Service code 26 · EIN 41-1962811

Advisory (Participants)

$16,052

INTELLICENTS INVESTMENT SOLUTIONS I2 years

Filed as: INTELLICENTS INVESTMENT

Service code 26 · EIN 41-1812533

Advisory (Participants)

$14,583

KOVITZ INVESTMENT GROUP3 years

Filed as: KOVITZ INVESTMENT GROUP PARTNE

Service code 26 · EIN 47-5657416

Advisory (Participants)

$13,335

BANNERSTONE CAPITAL MANAGEMENT9+ years

Service code 26 · EIN 26-2360041

Advisory (Participants)

$11,580

CAHILL FINANCIAL ADVISORS INC3 years

Service code 26 · EIN 45-4112505

Advisory (Participants)

$7,269

CHARLES SCHWAB & CO., INC.4 years

Service code 33 · EIN 94-1737782

Securities brokerage; Securities brok...

$6,719

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