Retirement plan

MASON CITY CLINIC, P.C. 401(K) PROFIT SHARING PLAN AND TRUST

Name: MASON CITY CLINIC, P.C. - MASON CITY CLINIC, P.C. 401(K) PROFIT SHARING PLAN AND TRUST (2021) Form 5500
Creator: MASON CITY CLINIC, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MASON CITY CLINIC, P.C. 401(K) PROFIT SHARING PLAN AND TRUST, MASON CITY CLINIC, P.C.

MASON CITY CLINIC, P.C.EIN 42-1009288Plan #002PY 2021

250 SOUTH CRESCENT DRIVE - MASON CITY, IA 50401641-494-5406mcclinic.comLinkedIn51-200 employeesmedical practice

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$155.5M

+9.9% from 2020

Total participants

322

-2.1% from 2020

Average account balance

$496,759

+12.4% from 2020

Annual return

14.02%

-1.66 pp from 2020

Benchmarks

See 5,353 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,353 peers

Snapshot2021

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Analytics

Total assets (EOY)

Plan-year ending balance

$180.01M

Not enough data

1 years with asset history on file

Average account balance

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

$564K

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.

319

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.

98.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.21M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$20K

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

+18.35%

Not enough data

1 years with return on file

Admin fee / account holder

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

$424

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 4 by compensation

Provider	Service type	Compensation
JP MORGAN INVESTMENT MANAGEMENT INC1 year Filed as: SEI INVESTMENT MANAGEMENT CORP Service code 21 · EIN 04-2452803	Bank Trustee	$93,386
PRINCIPAL LIFE INSURANCE COMPANY1 year Service code 13 · EIN 42-0127290	Contract Administrator	$67,183
WELLS FARGO BANK, N.A.1 year Service code 15 · EIN 94-1347393	Recordkeeping	$54,377
SEI INVESTMENTS1 year Filed as: SEI TRUST COMPANY Service code 21 · EIN 06-1271230	Bank Trustee	$24,945

Plan features & details

Pension benefit codes2A2E2F2G2J2R2S2T3D3F

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

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

$122K

$605 / participant

Contract admin$67K55.3%
Other / not subdivided$54K44.7%

% of EOY assets

0.078%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: HOGAN HANSEN, P.C.
Auditor EIN: 420991212
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$496,759

$61,156+712.3%

$185,823+167.3%

$79,386+525.7%

Participation rate

95.5%

66.6%+28.9pp

81.7%+13.8pp

70.7%+24.8pp

Annual return

14.02%

19.45%-5.4pp

122.05%-108.0pp

116.85%-102.8pp

Employer contribution / active EE

$9,094

$2,321+291.9%

$5,167+76.0%

$2,427+274.6%

Participant deferral / active EE

$6,444

$2,789+131.1%

$5,568+15.7%

$4,046+59.3%

Admin fee / account holder

$388

$710-45.3%

$16,237-97.6%

$626-38.0%

Provider

Service type

Compensation

JP MORGAN INVESTMENT MANAGEMENT INC1 year

Filed as: SEI INVESTMENT MANAGEMENT CORP

Service code 21 · EIN 04-2452803

Bank Trustee

$93,386

PRINCIPAL LIFE INSURANCE COMPANY1 year

Service code 13 · EIN 42-0127290

Contract Administrator

$67,183

WELLS FARGO BANK, N.A.1 year

Service code 15 · EIN 94-1347393

Recordkeeping

$54,377

SEI INVESTMENTS1 year

Filed as: SEI TRUST COMPANY

Service code 21 · EIN 06-1271230

Bank Trustee

$24,945

MASON CITY CLINIC, P.C. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MASON CITY CLINIC, P.C. 401(K) PROFIT SHARING PLAN AND TRUST

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