Retirement plan

GRAND RIVER MEDICAL GROUP RETIREMENT PLAN

Name: DUBUQUE INTERNAL MEDICINE PC DBA GRAND RIVER MEDICAL GROUP - GRAND RIVER MEDICAL GROUP RETIREMENT PLAN (2024) Form 5500
Creator: DUBUQUE INTERNAL MEDICINE PC DBA GRAND RIVER MEDICAL GROUP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GRAND RIVER MEDICAL GROUP RETIREMENT PLAN, DUBUQUE INTERNAL MEDICINE PC DBA GRAND RIVER MEDICAL GROUP

DUBUQUE INTERNAL MEDICINE PC DBA GRAND RIVER MEDICAL GROUPEIN 42-0848123Plan #001PY 2024

1515 DELHI STREET, STE 100 - DUBUQUE, IA 52001563-557-9111

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$91.3M

-4.9% from 2023

Total participants

491

-12.3% from 2023

Average account balance

$193,340

+8.0% from 2023

Annual return

12.01%

-5.06 pp from 2023

Benchmarks

See 4,134 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,134 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$91.26M

Not enough data

1 years with asset history on file

Average account balance

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

$193K

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.

472

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.

94.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.45M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+12.01%

Not enough data

1 years with return on file

Admin fee / account holder

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

$450

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 5 by compensation

Provider	Service type	Compensation
RETIRERIGHT LLC6 years Service code 16 2201 WESTOWN PARKWAY · WEST DES MOINES, IA 50265	Consulting	$75,000
T ROWE PRICE RPS INC10+ years Service code 15 1307 POINT STREET · BALTIMORE, MD 21231	Recordkeeping	$35,496
STEELE CAPITAL MANAGEMENT, INC.5 years Filed as: STEELE CAPITAL MANAGEMENT INC Service code 26 · EIN 42-1460565	Advisory (Participants)	$17,200
OLSEN THIELEN & CO., LTD.7 years Filed as: OLSEN THIELEN & CO., LTD Service code 10 2675 LONG LAKE RD · ROSEVILLE, MN 55113	Accounting	$14,300
CHARLES SCHWAB & CO., INC.7 years Service code 33 · EIN 94-1737782	Direct payment from the plan; Securit...	$88

Plan features & details

Pension benefit codes2E2F2G2J2R2S2T3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

$212K

$639 / participant

Recordkeeping$36K17.1%
Other trustee fees$85K39.8%
Other / not subdivided$92K43.1%

% of EOY assets

0.233%

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: OLSEN THIELEN & CO., LTD
Auditor EIN: 411360831
Audit fees: $14,300
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$193,340

$50,820+280.4%

$155,567+24.3%

$77,671+148.9%

Participation rate

94.3%

63.1%+31.1pp

78.2%+16.1pp

70.6%+23.7pp

Annual return

12.01%

34.85%-22.8pp

64.74%-52.7pp

31.21%-19.2pp

Employer contribution / active EE

$1,993-100.0%

$4,674-100.0%

$2,726-100.0%

Participant deferral / active EE

$7,383

$2,823+161.5%

$5,628+31.2%

$4,648+58.8%

Admin fee / account holder

$450

$436+3.2%

$15,916-97.2%

$430+4.5%

Provider

Service type

Compensation

RETIRERIGHT LLC6 years

Service code 16

2201 WESTOWN PARKWAY · WEST DES MOINES, IA 50265

Consulting

$75,000

T ROWE PRICE RPS INC10+ years

Service code 15

1307 POINT STREET · BALTIMORE, MD 21231

Recordkeeping

$35,496

STEELE CAPITAL MANAGEMENT, INC.5 years

Filed as: STEELE CAPITAL MANAGEMENT INC

Service code 26 · EIN 42-1460565

Advisory (Participants)

$17,200

OLSEN THIELEN & CO., LTD.7 years

Filed as: OLSEN THIELEN & CO., LTD

Service code 10

2675 LONG LAKE RD · ROSEVILLE, MN 55113

Accounting

$14,300

CHARLES SCHWAB & CO., INC.7 years

Service code 33 · EIN 94-1737782

Direct payment from the plan; Securit...

$88

GRAND RIVER MEDICAL GROUP RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GRAND RIVER MEDICAL GROUP RETIREMENT 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