Retirement plan

MINUTECLINIC 401(K) PLAN

Name: MINUTECLINIC, LLC - MINUTECLINIC 401(K) PLAN (2021) Form 5500
Creator: MINUTECLINIC, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MINUTECLINIC 401(K) PLAN, MINUTECLINIC, LLC

MINUTECLINIC, LLCEIN 41-1939629Plan #001PY 2021

ONE CVS DRIVE, HR RETIREMENT BENEFITS - MC1110 - WOONSOCKET, RI 028956146888-694-7287LinkedIn1001-5000 employeesmedical practice

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$280.9M

-21.3% from 2016

Total participants

4,865

-14.5% from 2016

Average account balance

$75,382

-8.0% from 2016

Annual return

17.66%

-10.81 pp from 2016

Benchmarks

See 1,316 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,316 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$350.04M

Not enough data

1 years with asset history on file

Average account balance

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

$83K

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.

4,242

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.

65.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$31.26M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+15.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$41

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 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY7+ years Service code 13 · EIN 42-0127290	Contract Administrator	$313,767
BUCK GLOBAL, LLC3 years Filed as: BUCK GLOBAL LLC Service code 26 · EIN 13-3954297	Advisory (Participants)	$35,300
MOSS ADAMS LLP7+ years Service code 10 · EIN 91-0189318	Accounting	$23,050
MORNINGSTAR6 years Filed as: MORNINGSTAR INVESTMENT MGMT LLC Service code 26 · EIN 36-4317381	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3H

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.
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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$373K

$100 / participant

Investment mgmt$35K9.5%
Contract admin$314K84.1%
Other / not subdivided$24K6.5%

% of EOY assets

0.133%

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: MOSS ADAMS, LLP
Auditor EIN: 910189318
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$75,382

$67,512+11.7%

$185,854-59.4%

$93,010-19.0%

Participation rate

69.5%

67.1%+2.4pp

81.7%-12.2pp

73.9%-4.4pp

Annual return

17.66%

21.04%-3.4pp

122.12%-104.5pp

158.70%-141.0pp

Employer contribution / active EE

$2,543

$1,783+42.6%

$5,169-50.8%

$2,705-6.0%

Participant deferral / active EE

$5,691

$3,035+87.5%

$5,569+2.2%

$4,561+24.8%

Admin fee / account holder

$100

$318-68.5%

$16,246-99.4%

$152-33.9%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY7+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$313,767

BUCK GLOBAL, LLC3 years

Filed as: BUCK GLOBAL LLC

Service code 26 · EIN 13-3954297

Advisory (Participants)

$35,300

MOSS ADAMS LLP7+ years

Service code 10 · EIN 91-0189318

Accounting

$23,050

MORNINGSTAR6 years

Filed as: MORNINGSTAR INVESTMENT MGMT LLC

Service code 26 · EIN 36-4317381

Advisory (Participants)

MINUTECLINIC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MINUTECLINIC 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