Retirement plan

MCFARLAND CLINIC, P.C. 401(K) PROFIT SHARING PLAN

Name: MCFARLAND CLINIC, P.C. - MCFARLAND CLINIC, P.C. 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: MCFARLAND CLINIC, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MCFARLAND CLINIC, P.C. 401(K) PROFIT SHARING PLAN, MCFARLAND CLINIC, P.C.

MCFARLAND CLINIC, P.C.EIN 42-1089512Plan #002PY 2020

1215 DUFF AVE. - AMES, IA 50010515-239-4400mcfarlandclinic.comLinkedIn1001-5000 employeesmedical practice

Prospect flagsHigh feesLow participationHigh assets / participant

Top hat statement on fileNQDC

Filed December 22, 2003

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$439.1M

+10.6% from 2019

Total participants

1,823

+2.4% from 2019

Average account balance

$566,582

+148.5% from 2019

Annual return

13.89%

-7.41 pp from 2019

Benchmarks

See 1,342 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,342 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$487.87M

Not enough data

1 years with asset history on file

Average account balance

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

$271K

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.

1,797

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.

96.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$22.97M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+13.32%

Not enough data

1 years with return on file

Admin fee / account holder

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

$342

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 8 by compensation

Provider	Service type	Compensation
FOSTER GROUP2 years Filed as: FOSTER GROUP INC Service code 26 · EIN 42-1361385	Advisory (Participants)	$219,955
CHARLES SCHWAB & CO., INC.2 years Filed as: SCHWAB RETIREMENT PLAN SERVICES INC Service code 15 · EIN 34-1479833	Recordkeeping	$168,107
MARRS WEALTH MANAGEMENT LLC6+ years Service code 26 · EIN 27-1254344	Advisory (Participants)	$50,865
STEELE CAPITAL MANAGEMENT, INC.6+ years Filed as: STEELE CAPITAL MANAGEMENT INC Service code 26 · EIN 42-1460565	Advisory (Participants)	$17,558
IOWA WEALTH MANAGEMENT LLC2 years Service code 26 · EIN 27-1539233	Advisory (Participants)	$15,492
BISHOP & COMPANY INVESTMENT MA6+ years Service code 26 · EIN 74-3249075	Advisory (Participants)	$14,331
CHARLES SCHWAB & CO., INC.6+ years Service code 33 · EIN 94-1737782	Securities brokerage commissions and ...	$13,110
CHARLES SCHWAB & CO., INC.2 years Filed as: CHARLES SCHWAB & CO. INC. AND AFFIL Service code 59	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3D

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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$530K

$400 / participant

Investment mgmt$332K62.8%
Other / not subdivided$197K37.2%

% of EOY assets

0.121%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: LWBJ, LLP
Auditor EIN: 421462849
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$566,582

$56,095+910.0%

$178,499+217.4%

$90,274+527.6%

Participation rate

21.0%

65.6%-44.6pp

81.9%-61.0pp

73.4%-52.4pp

Annual return

13.89%

28.81%-14.9pp

151.10%-137.2pp

53.97%-40.1pp

Employer contribution / active EE

$7,597

$1,572+383.1%

$5,011+51.6%

$2,523+201.1%

Participant deferral / active EE

$6,144

$2,669+130.2%

$5,202+18.1%

$4,231+45.2%

Admin fee / account holder

$684

$101+579.3%

$13,986-95.1%

$114+499.4%

Provider

Service type

Compensation

FOSTER GROUP2 years

Filed as: FOSTER GROUP INC

Service code 26 · EIN 42-1361385

Advisory (Participants)

$219,955

CHARLES SCHWAB & CO., INC.2 years

Filed as: SCHWAB RETIREMENT PLAN SERVICES INC

Service code 15 · EIN 34-1479833

Recordkeeping

$168,107

MARRS WEALTH MANAGEMENT LLC6+ years

Service code 26 · EIN 27-1254344

Advisory (Participants)

$50,865

STEELE CAPITAL MANAGEMENT, INC.6+ years

Filed as: STEELE CAPITAL MANAGEMENT INC

Service code 26 · EIN 42-1460565

Advisory (Participants)

$17,558

IOWA WEALTH MANAGEMENT LLC2 years

Service code 26 · EIN 27-1539233

Advisory (Participants)

$15,492

BISHOP & COMPANY INVESTMENT MA6+ years

Service code 26 · EIN 74-3249075

Advisory (Participants)

$14,331

CHARLES SCHWAB & CO., INC.6+ years

Service code 33 · EIN 94-1737782

Securities brokerage commissions and ...

$13,110

CHARLES SCHWAB & CO., INC.2 years

Filed as: CHARLES SCHWAB & CO. INC. AND AFFIL

Service code 59

Shareholder Servicing

MCFARLAND CLINIC, P.C. 401(K) PROFIT SHARING PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MCFARLAND CLINIC, P.C. 401(K) PROFIT SHARING PLAN

Top hat statement on fileNQDC

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